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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 March 31, 2024, of $16.7 billion, an assumed 5%, 10%, and 20% adverse change to foreign exchange would result in declines of $835 million, $1.7 billion, and $3.3 billion.
+Added: Based on the balance of foreign funds as of June 30, 2024, of $18.4 billion, an assumed 5%, 10%, and 20% adverse change to foreign exchange would result in declines of $920 million, $1.8 billion, and $3.7 billion.
We also have foreign exchange risk related to our intercompany balances denominated in various currencies.
−Removed: Based on the intercompany balances as of March 31, 2024, an assumed 5%, 10%, and 20% adverse change to foreign exchange rates would result in losses of $280 million, $560 million, and $1.1 billion, recorded to “Other income (expense), net.”
+Added: Based on the intercompany balances as of June 30, 2024, an assumed 5%, 10%, and 20% adverse change to foreign exchange rates would result in losses of $245 million, $485 million, and $970 million, recorded to “Other income (expense), net.”
See Item 2 of Part I, “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Results of Operations — Effect of Foreign Exchange Rates” for additional information on the effect on reported results of changes in foreign exchange rates.
Equity Investment Risk
−Removed: As of March 31, 2024, our recorded value in equity, equity warrant, and convertible debt investments in public and private companies was $10.7 billion.
−Removed: Our equity and equity warrant investments in publicly traded companies, which include our equity investment in Rivian, represent $3.4 billion of our investments as of March 31, 2024, and are recorded at fair value, which is subject to market price volatility.
+Added: As of June 30, 2024, our recorded value in equity, equity warrant, and convertible debt investments in public and private companies was $11.6 billion.
+Added: Our equity and equity warrant investments in publicly traded companies, which include our equity investment in Rivian, represent $3.8 billion of our investments as of June 30, 2024, 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.
3 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.