10 public companies told the SEC they depend on Paper.

“there are several grades or types of paper that we use in our products that we obtain from a single source due to the specificity of our requirements and limitations in the available paper products in a given market.”

“Recently, there have been consolidations of newsprint suppliers, and paper prices may fluctuate substantially in the future or otherwise be affected by tariffs and/or changes to trade agreements.”

“paper costs represent a significant portion of our expenses, and volatility in paper prices, driven by limited supplier options and declining industry demand, may limit our ability to negotiate favorable pricing.”

“Paper and postage represent a substantial portion of print-related costs and are subject to price fluctuations driven by macroeconomic conditions, supply chain disruptions, and regulatory or legislative actions, including increases in postal rates by the United States Postal Service.”

“Our manufacturing operations, in particular paper manufacturing, is energy-intensive. In the U.K., the European Union, China and the U.S., availability of energy generally is reliable, although prices can fluctuate significantly based on supply and demand.”

“As a major publisher of newspapers, magazines and books, the Company utilizes substantial quantities of various types of paper. In order to obtain the best available prices, substantially all of the Company's paper purchasing is done on a regional, volume purchase basis, and draws upon major paper manufacturing countries around the world.”

“availability of materials, including paper (which may be more limited in the future as a number of mills reduce graphic paper production capacity in favor of other product lines, such as paperboard)”

“In our Marketing Services segment, we depend on third parties to supply paper and to print, publish and distribute our directories.”

“Our primary commodity price exposures are newsprint and, to a lesser extent, ink, which in the aggregate represented approximately 5% and 6% of our total operating costs for the years ended December 31, 2025 and 2024 , respectively.”

“Average market prices for single-stream recycled commodities declined approximately 20% in 2025 as compared to the prior year.”