RR Donnelley Furnishes Financials to SEC in XBRL Pilot Program
Press release from the issuing company
CHICAGO and NEW YORK, April 4 -- R. R. Donnelley & Sons Company, an industry leader in financial print and compliance solutions, today voluntarily furnished eXtensible Business Reporting Language (XBRL) data to the Securities and Exchange Commission (SEC) electronically in an 8-K exhibit, as a supplement to its 2004 Annual Report on Form 10-K. Coinciding with start today of the SEC's new XBRL Voluntary Financial Reporting Program, and as part of RR Donnelley's continued leadership to help clients embrace the XBRL Global Reporting Standard, the financials were converted to industry-standard XBRL 2.1 format using Rivet Software's Dragon Tag(TM) XBRL enabler, assembled on RR Donnelley's ProFile proprietary composition system, and then filed with the SEC.
"RR Donnelley has supported XBRL from the beginning," said Tom Juhase, President, Global Capital Markets, RR Donnelley. "Our support includes a corporate commitment to help lower the adoption hurdles for our clients and stay ahead of our competition when it comes to SEC filings for customers. This active leadership in the XBRL initiative includes working closely with a key client, Microsoft, since 2002. Our global resources remain focused with the technology and expertise our clients will need as the XBRL global standard continues to gain momentum."
"Dragon Tag is transforming the way organizations are able to adopt XBRL," said Rob Blake, Vice President, Product Marketing at Rivet Software. "By using Dragon Tag, RR Donnelley is on the leading edge of complying with this emerging standard and helping its clients avoid the complexities of XBRL reporting."
XBRL is an XML-based information format for the electronic communication of financial and business information. It will tag each cell of each line of a financial statement and put it into a standard context. Because the data is standardized, it can be used to make "apples-to-apples" financial comparisons. According to XBRL International, a non-profit consortium of 300 companies and agencies that works to build XBRL specifications and promote their adoption, information encoded in XBRL is "intelligent data that can be reused for a myriad of purposes. Adoption of XBRL permits financial analysts, accountants, government agencies, internal users and other interested parties to access, compare and analyze data in ways that until now have not been practical or even possible."
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