4 unchanged sentences
Therefore, exposure to interest rate risk is not believed to be material for our fixed-rate debt.
−Removed: In the first quarter of 2020, we entered into a $13.8 billion two-year delayed draw floating-rate term loan credit agreement.
−Removed: An increase or decrease of 100 basis points in interest rates on this floating-rate debt would increase or decrease our pre-tax earnings by $138 million over the next 12 months.
+Added: In 2021, we repaid the $13.8 billion outstanding under our two-year floating-rate delayed draw term loan credit agreement.
+Added: As a result, as of December 31, 2021, we do not have any significant floating-rate debt obligations.
Historically, we have not experienced material gains or losses on our customer financing assets and liabilities due to interest rate changes.
11 unchanged sentences
At December 31, 2021, a 10% increase or decrease in the market price in our commodity derivatives would have increased or decreased our unrealized losses by $46 million.
−Removed: Consistent with the use of these contracts
−Removed: to neutralize the effect of market price fluctuations, such unrealized losses or gains would be offset by corresponding gains or losses, respectively, in the remeasurement of the underlying transactions being hedged.
+Added: Consistent with the use of these contracts to neutralize the effect of market price fluctuations, such unrealized losses or gains would be offset by corresponding gains or losses, respectively, in the remeasurement of the underlying transactions being hedged.
When taken together, these commodity purchase contracts and the offsetting swaps do not create material market risk.
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.