XBRL Filers with SEC Up Sharply in Fourth Quarter --- "Batting Average" Improves Markedly

[Miles P. Jennings, Jr.]

The number of voluntary corporate XBRL filers with the SEC has picked up sharply. Only half-way through the fourth quarter, the number of new filers vs. the second quarter has already doubled---14 vs 7---bringing the total number of Voluntary SEC Filers to 105. Here is the data:

2008 Third Quarter
Amedisys, Safeway, HCP, Praxair, Consolidated Energy, CNX, and On Semiconductor

2008 Fourth Quarter (through Nov. 14th)
Prologis, Corning Inc., Air Products, Southwest Airl, Omnicom, GAP, Marathon Oil, McCormick, Sherwin Williams, Sandridge, Energy, Fluor, Chevron, AES, and News Corp.

So, we can conclude that the "batting" averages are .311/day for the 4th quarter so far and .076/day for the entire 2nd quarter. (Source: XBRL Network and SEC)

However, the actual filing rate is not truly indicative of the move to XBRL. Companies in the filing business indicate that the activity of corporate filers which have already "XBRL-ized" their data has jumped markedly. And, of course, the use of XBRL data for internal corporate purposes is growing like Topsy around the world.

It does appear that, whenever the SEC formalizes its required reporting timetable, companies around the world have already recognized and welcomed interactive data as the new best-practice standard. And it appears, based on recent activity, the US XBRL movement is now reaching critical mass.