SEC Climate Disclosure Rule 14-02(c): Rule 14-02(b)(1) and (c): expenditures expensed and losses from severe weather events and other natural conditions

What does 14-02(c) require?

Disclose the aggregate expenditures expensed as incurred and losses, excluding recoveries, incurred in the year as a result of severe weather events and other natural conditions (such as hurricanes, tornadoes, flooding, drought, wildfires, extreme temperatures and sea level rise), for example to restore or relocate operations, retire, repair or impair affected assets, identifying where they appear in the income statement. Required when the aggregate is at least one percent of the absolute value of income or loss before income tax, but not if it is below 100,000 US dollars for the year.