1 unchanged sentence
Currency Risk
−Removed: We are primarily exposed to foreign exchange risk with respect to revenues generated outside of the United States denominated in the Euro, British Pound, Canadian Dollar, Australian Dollar, Indian Rupee, Turkish Lira, Japanese Yen, Mexican Peso, Korean Wan and Swiss Franc.
+Added: We are primarily exposed to foreign exchange risk with respect to revenues generated outside of the United States denominated in the Euro, Australian Dollar, British Pound, and Canadian Dollar.
We manage our foreign currency exposures on a consolidated basis, which allows us to net exposures and take advantage of any natural offsets.
4 unchanged sentences
We primarily use forward contracts to hedge the foreign exchange risk to earnings relating to forecasted transactions and recognized assets and liabilities denominated in foreign currencies.
−Removed: The maximum term over which we have cash flow hedge contracts in place related to foreign exchange risk on forecasted transactions as of September 30, 2025 is two months.
We also enter into derivative instruments to hedge foreign exchange risk on certain intra-company and third-party receivables and payables and debt denominated in foreign currencies.
As part of our risk-management program, we perform sensitivity analyses to assess potential changes in the fair value of our foreign exchange instruments relating to hypothetical and reasonably possible near-term movements in foreign exchange rates.
−Removed: A sensitivity analysis of changes in the fair value of foreign exchange contracts outstanding as of September 30, 2025, while not predictive in nature, indicated that if the U.S.
+Added: A sensitivity analysis of changes in the fair value of foreign exchange contracts outstanding as of March 31, 2026, while not predictive in nature, indicated that if the U.S.
Dollar uniformly weakened by 10% against all currencies, the net pre-tax liability balance of $2 million with respect to those contracts would change by $2 million.
−Removed: The sensitivity analysis model recalculates the fair value of the foreign exchange contracts outstanding as of September 30, 2025 by replacing the actual exchange rates as of September 30, 2025 with exchange rates that are 10% weaker compared to the actual exchange rates for each applicable currency.
+Added: The sensitivity analysis model recalculates the fair value of the foreign exchange contracts outstanding as of March 31, 2026 by replacing the actual exchange rates as of March 31, 2026 with exchange rates that are 10% weaker compared to the actual exchange rates for each applicable currency.
All other factors are held constant.
3 unchanged sentences
As a result, on April 1, 2022, we began reporting the results of our subsidiary in that jurisdiction using highly inflationary accounting, which requires that the functional currency of the entity be changed to the reporting currency of its parent.
−Removed: As of September 30, 2025, our subsidiary in Turkey had net monetary assets of $35 million.
+Added: As of March 31, 2026, our subsidiary in Turkey had net monetary assets of $37 million.
Interest Rate and Other Risks
Refer to the caption “Interest Rate and Other Risks” in the “Financial Instrument Market Risk” section of the 2025 Annual Report.
−Removed: There were no significant changes during the quarter ended September 30, 2025.
+Added: There were no significant changes during the quarter ended March 31, 2026.
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.