Data tagging using XBRL has been a part of SEC reporting since 2009, with Inline XBRL phasing in starting in 2018.  Several uses for XBRL have evolved over this period.  The SEC staff utilizes this information in many ways, including uncovering issues during the CorpFin review process.  Some service providers use the database to provide analysis and benchmarking tools.  Software is available to access XBRL data for tasks such as peer group analysis.

As use of XBRL data evolves, assuring the integrity of this information is key.  The Office of Structured Disclosure (OSD) within the Division of Economic and Risk Analysis oversees this process.  Even though tagging has been required for over 15 years OSD periodically discovers problems.

This May 30, 2024, Announcement addresses an EPS tagging problem discovered by DERA staff.  When a company’s basic and diluted EPS are the same and this information is presented in a single amount they should apply two tags, one for basic EPS and a second for diluted EPS, to this single amount.

You can find more of this kind of guidance from the Office of Structured Disclosure  on this webpage providing Staff Observations, Guidance, and Trends.

As always, your thoughts and comments are welcome!