25 unchanged sentences
At December 31, 2022 and 2021, Abbott held $7.7 billion and $8.6 billion, respectively, of such contracts.
−Removed: Contracts held at December 31, 2021 will mature in 2022 or 2023 depending upon the contract.
+Added: Contracts held at December 31, 2022 will mature in 2023 or 2024 depending on the contract.
Contracts held at December 31, 2021 matured in 2022 or will mature in 2023 depending upon the contract.
2 unchanged sentences
At December 31, 2022 and 2021, Abbott held $12.0 billion and $12.2 billion, respectively, of such contracts, which mature in the next 13 months.
−Removed: In November 2019, Abbott borrowed ¥59.8 billion under a 5-year term loan and designated the yen-denominated loan as a hedge of the net investment in certain foreign subsidiaries.
−Removed: The proceeds equated to approximately $550 million.
−Removed: The value of this long-term debt was approximately $521 million and $577 million as of December 31, 2021 and December 31, 2020, respectively.
−Removed: The change in the value of the debt, which is due to changes in foreign exchange rates, was recorded in Accumulated other comprehensive income (loss), net of tax.
+Added: Abbott has designated a yen-denominated, 5-year term loan of approximately $446 million and $521 million as of December 31, 2022 and December 31, 2021, respectively, as a hedge of the net investment in certain foreign subsidiaries.
+Added: The change in the value of the debt, which is due to changes in foreign exchange rates, is recorded in Accumulated other comprehensive income (loss), net of tax.
The following table reflects the total foreign currency forward exchange contracts outstanding at December 31, 2022 and 2021:
+Added: (dollars in millions) Contract
+Added: Amount Weighted
+Added: Rate Fair and
Carrying Value
+Added: (Payable) Contract
+Added: Amount Weighted
+Added: Rate Fair and
Carrying Value
−Removed: (dollars in millions)
Primarily U.S.
dollars to be exchanged for the following currencies:
−Removed: All other currencies
+Added: Euro $ 7,656 1.0664 $ 92 $ 8,698 1.1360 $ 90
+Added: Chinese Yuan 2,264 6.8825 12 2,148 6.5744 (35)
+Added: Japanese Yen 1,797 133.0344 (7) 1,497 111.7260 31
+Added: All other currencies 8,029 n/a 89 8,426 n/a 109
+Added: Total $ 19,746 $ 186 $ 20,769 $ 195
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.