From time to time, the SEC will tie comments to a company’s SEC filings to information disclosed in the company’s quarterly earnings conference calls or press releases. To the extent that a company’s earnings conference calls or press releases disclose information that may be material, but that is not included in its periodic reports, it may receive an SEC comment asking why the information was not included in the 10-K or 10-Q. For example, in a recent comment letter, the SEC noted that an issuer discussed its decision to exit a particular line of business in its earnings call, but did not mention that decision in its most recent filing with the SEC. In practice, companies should ensure that material information they intend to disclose via a press release or conference call is appropriately reflected in the periodic report.