6 unchanged sentences
However, the fair value of our long-term debt, which pays interest at a fixed rate, will generally fluctuate with movements of interest rates, increasing in periods of declining rates of interest and declining in periods of increasing rates of interest.
−Removed: We generally invest our excess cash in AAA-rated money market funds and investment grade short- to intermediate-term fixed income securities.
−Removed: Fixed income securities may have their fair market value adversely affected due to a rise in interest rates, and we may suffer losses in principal if forced to sell securities that have declined in market value due to changes in interest rates.
−Removed: The following table provides information about our cash equivalents and marketable fixed income securities, including principal cash flows by expected maturity and the related weighted-average interest rates as of December 31, 2022 (in millions, except percentages):
+Added: We generally invest our excess cash in AAA-rated money market funds and investment grade short- to intermediate-term marketable debt securities.
+Added: Marketable debt securities with fixed interest rates may have their fair market value adversely affected due to a rise in interest rates, and we may suffer losses in principal if forced to sell securities that have declined in market value due to changes in interest rates.
+Added: The following table provides information about our cash equivalents and marketable debt securities, including principal cash flows by expected maturity and the related weighted-average interest rates as of December 31, 2023 (in millions, except percentages):
2024 2025 2026 2027 2028 Thereafter Total Estimated Fair Value as of December 31, 2023
9 unchanged sentences
Weighted average interest rate 5.28 % — % — % — % — % — % 5.28 %
−Removed: Other fixed income securities 138 61 48 — — — 247 237
+Added: Other debt securities 62 46 — — — — 108 104
Weighted average interest rate 0.55 % 1.07 % — % — % — % — % 0.78 %
$ 66,144 $ 3,123 $ 1,228 $ 202 $ 56 $ 521 $ 71,274
−Removed: Cash equivalents and marketable fixed income securities $ 56,016
+Added: Cash equivalents and marketable debt securities $ 70,919
As of December 31, 2023, we had long-term debt with a face value of $67.2 billion, including the current portion, primarily consisting of fixed rate unsecured senior notes.
5 unchanged sentences
Upon consolidation, as foreign exchange rates vary, net sales and other operating results may differ materially from expectations, and we may record significant gains or losses on the remeasurement of intercompany balances.
−Removed: For example, as a result of fluctuations in foreign exchange rates throughout the year compared to rates in effect the prior year, International segment net sales decreased by $15.0 billion in comparison with the prior year.
+Added: For example, as a result of fluctuations in foreign exchange rates throughout the year compared to rates in effect the prior year, International segment net sales increased by $88 million in comparison with the prior year.
We have foreign exchange risk related to foreign-denominated cash, cash equivalents, and marketable securities (“foreign funds”).
−Removed: Based on the balance of foreign funds as of December 31, 2022, of $18.3 billion, an assumed 5%, 10%, and 20% adverse change to foreign exchange would result in declines of $915 million, $1.8 billion, and $3.7 billion.
−Removed: We also have foreign exchange risk related to our intercompany balances denominated in various foreign currencies.
+Added: Based on the balance of foreign funds as of December 31, 2023, of $23.5 billion, an assumed 5%, 10%, and 20% adverse change to foreign exchange would result in declines of $1.2 billion, $2.3 billion, and $4.7 billion.
+Added: We also have foreign exchange risk related to our intercompany balances denominated in various currencies.
Based on the intercompany balances as of December 31, 2023, an assumed 5%, 10%, and 20% adverse change to foreign exchange rates would result in losses of $320 million, $640 million, and $1.3 billion, recorded to “Other income (expense), net.”
1 unchanged sentence
Equity Investment Risk
−Removed: As of December 31, 2022, our recorded value in equity and equity warrant investments in public and private companies was $7.2 billion.
−Removed: Our equity and equity warrant investments in publicly traded companies, which primarily relate to Rivian, represent $5.0 billion of our investments as of December 31, 2022, and are recorded at fair value, which is subject to market price volatility.
+Added: As of December 31, 2023, our recorded value in equity, equity warrant, and convertible debt investments in public and private companies was $9.6 billion.
+Added: Our equity and equity warrant investments in publicly traded companies, which include our equity investment in Rivian, represent $5.7 billion of our investments as of December 31, 2023, and are recorded at fair value, which is subject to market price volatility.
We record our equity warrant investments in private companies at fair value and adjust our equity investments in private companies for observable price changes or impairments.
4 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.