4 unchanged sentences
Aircraft Fuel
−Removed: As of March 31, 2022, we did not have any fuel hedging contracts outstanding to hedge our fuel consumption.
+Added: As of June 30, 2022, we did not have any fuel hedging contracts outstanding to hedge our fuel consumption.
Our current policy is not to enter into transactions to hedge our fuel consumption, although we review that policy from time to time based on market conditions and other factors.
5 unchanged sentences
dollar value of foreign currency-denominated transactions.
−Removed: Our largest exposure comes from the British pound sterling, Euro, Chinese yuan, Canadian dollar and various Latin American currencies, primarily the Brazilian real.
+Added: Our largest exposure comes from the Euro, British pound sterling, various Latin American currencies, primarily the Brazilian real, Canadian dollar and Chinese yuan.
We do not currently have a foreign currency hedge program.
4 unchanged sentences
Our earnings and cash flow are affected by changes in interest rates due to the impact those changes have on our interest expense from variable-rate debt instruments and our interest income from short-term, interest-bearing investments.
−Removed: If annual interest rates increase 100 basis points, based on our March 31, 2022 variable-rate debt and short-term investments balances, annual interest expense on variable rate debt would increase by approximately $110 million and annual interest income on short-term investments would increase by approximately $125 million.
+Added: If annual interest rates increase 100 basis points, based on our June 30, 2022 variable-rate debt and short-term investments balances, annual interest expense on variable rate debt would increase by approximately $106 million and annual interest income on short-term investments would increase by approximately $125 million.
On July 27, 2017, the U.K.
8 unchanged sentences
We may in the future pursue amendments to our LIBOR-based debt transactions to provide for a transition mechanism or other reference rate in anticipation of LIBOR’s discontinuation, but we may not be able to reach agreement with our lenders on any such amendments.
−Removed: As of March 31, 2022, we had $10.8 billion of borrowings linked to LIBOR.
+Added: As of June 30, 2022, we had $10.6 billion of borrowings linked to LIBOR.
The replacement of LIBOR with a comparable or successor rate could cause the amount of interest payable on our long-term debt to be different or higher than expected.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.