5 unchanged sentences
Dollars and various other currencies, which subject us to exposure from movements in exchange rates.
−Removed: We may use foreign exchange option contracts or forward contracts to hedge a portion of our forecasted foreign currency denominated revenue and expenses.
+Added: We may use foreign exchange option contracts and forward contracts to hedge a portion of our forecasted foreign currency denominated revenue and expenses.
Additionally, we hedge our net recognized foreign currency monetary assets and liabilities with foreign exchange forward contracts to reduce the risk that our earnings and cash flows will be adversely affected by changes in exchange rates.
15 unchanged sentences
A 10% decrease in the value of the U.S.
−Removed: Dollar would lead to an increase in the fair value of these financial instruments by $17 million.
+Added: Dollar would lead to a decrease in the fair value of these financial instruments by $1 million.
As a general rule, we do not use foreign exchange contracts to hedge local currency denominated operating expenses in countries where a natural hedge exists.
2 unchanged sentences
Dollar functional currency foreign subsidiaries.
−Removed: As of December 2, 2022 and December 3, 2021, this long-term investment exposure totaled an absolute notional equivalent of $770 million and $749 million, respectively.
+Added: As of December 1, 2023 and December 2, 2022, this long-term investment exposure totaled an absolute notional equivalent of $1.03 billion and $770 million, respectively.
At this time, we do not hedge these long-term investment exposures.
19 unchanged sentences
Short-Term Investments and Fixed Income Securities
−Removed: At December 2, 2022, we had debt securities classified as short-term investments of $1.86 billion.
+Added: At December 1, 2023, we had debt securities classified as short-term investments of $701 million.
Changes in interest rates could adversely affect the market value of these investments.
6 unchanged sentences
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.