1 unchanged sentence
Interest Rate Risk
−Removed: We have financial instruments that are subject to interest rate risk, principally fixed- and floating-rate debt obligations, and customer financing assets and liabilities.
+Added: We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations.
The investors in our fixed-rate debt obligations do not generally have the right to demand we pay off these obligations prior to maturity.
Therefore, exposure to interest rate risk is not believed to be material for our fixed-rate debt.
−Removed: As of December 31, 2022, we do not have any significant floating-rate debt obligations.
−Removed: Historically, we have not experienced material gains or losses on our customer financing assets and liabilities due to interest rate changes.
Foreign Currency Exchange Rate Risk
12 unchanged sentences
When taken together, these commodity purchase contracts and the offsetting swaps do not create material market risk.
+Added: Participants in deferred compensation plans can diversify the deferred amounts among investment funds which are subject to potential changes in fair value.
+Added: As of December 31, 2023, the deferred compensation liability, which is being marked to market, was $1.6 billion.
+Added: A 10% change in the fair value of these investment funds would increase or decrease the liability by $164 million.
+Added: Changes in the liability are recorded in operating earnings.
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.