4 unchanged sentences
Accordingly, our interest income fluctuates with short-term market conditions.
−Removed: As of December 28, 2019 , our investment portfolio consisted primarily of commercial paper.
−Removed: These investments were highly liquid.
+Added: As of December 26, 2020, our investment portfolio consisted of time deposits and commercial paper.
Due to the relatively short, weighted-average maturity of our investment portfolio and the current low interest rate environment, our exposure to interest rate risk is minimal.
10 unchanged sentences
While we believe we take prudent measures to mitigate investment-related risks, such risks cannot be fully eliminated as there are circumstances outside of our control.
−Removed: The following table presents certain information for our investment portfolio and debt obligations as of December 28, 2019 :
−Removed: 2025 and thereafter
−Removed: Fair Value (2)
−Removed: (In millions, except for percentages)
−Removed: Investment Portfolio
−Removed: Cash equivalents:
−Removed: Variable rate amounts
−Removed: Weighted-average rate
−Removed: Marketable securities
−Removed: Fixed rate amounts
−Removed: Weighted-average rate
−Removed: Total Investment Portfolio
−Removed: Debt Obligations
−Removed: Fixed rate amounts
−Removed: Weighted-average
−Removed: effective interest rate
−Removed: Total Debt Obligations
−Removed: The dollar amounts represent the cost basis of our investment portfolio and the remaining principal of our debt obligations.
−Removed: Our 2.125% Notes, included in debt obligations above, were convertible at the option of the holder as of December 28, 2019.
−Removed: The estimated fair value of the 2.125% Notes takes into account the value of our stock price of $46.18 as of December 28, 2019 and the initial conversion price of approximately $8.00 per share of common stock.
Foreign Exchange Risk.
3 unchanged sentences
We do not use derivative financial instruments for trading or speculative purposes.
−Removed: In applying our strategy, from time to time we use foreign currency forward contracts to hedge certain forecasted expenses denominated in foreign currencies.
−Removed: We designate these contracts as cash flow hedges of forecasted expenses to the extent eligible under the accounting rules and evaluate hedge effectiveness prospectively and retrospectively.
−Removed: To the extent such hedges are effective, the gain or loss on these contracts is recorded as a component of accumulated other comprehensive income (loss) and
−Removed: reclassified to earnings in the same line item as the associated forecasted transaction and in the same period during which the hedged transaction affects earnings.
−Removed: We also use, from time to time, foreign currency forward contracts to economically hedge recognized foreign currency exposures on the balance sheets of various subsidiaries.
−Removed: We do not designate these forward contracts as hedging instruments.
−Removed: Accordingly, the gain or loss associated with these contracts is immediately recorded in earnings.
The following table provides information about our foreign currency forward contracts as of December 26, 2020 and December 28, 2019.
All of our foreign currency forward contracts mature within 12 months.
−Removed: December 28, 2019
−Removed: December 29, 2018
+Added: December 26, 2020 December 28, 2019
+Added: Amount Average
+Added: Rate Estimated
+Added: Gain (Loss) Notional
+Added: Amount Average
+Added: Rate Estimated
(In millions except contract rates)
2 unchanged sentences
Canadian Dollar 247 1.3165 6 249 1.3183 2
+Added: Indian Rupee 97 76.0259 1 76 72.9476 —
Singapore Dollar 50 1.3574 1 50 1.3597 —
+Added: Euro 35 0.8578 1 48 0.8927 1
Taiwan Dollar 58 28.0978 — 38 30.1873 —
1 unchanged sentence
Malaysian Ringgit 3 4.0456 — — 4.0889 —
+Added: Japanese Yen 1 103.5000 — — — —
+Added: Total $ 755 $ 17 $ 739 $ 2
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.