8 unchanged sentences
These contracts are recorded at fair values based on quotes listed on regulated commodity exchanges or the market prices of the underlying products listed on the exchanges, except that certain contracts are accounted for as normal purchase and normal sales transactions.
−Removed: For commodities where there is no liquid derivative contract, risk is managed through the use of forward sales contracts, other pricing arrangements and, to some extent, futures contracts in highly correlated commodities.
+Added: For commodities where there is no liquid derivative contract, risk is managed through use of forward sales contracts, other pricing arrangements and, to some extent, futures contracts in highly correlated commodities.
These contracts are economic hedges of price risk, but are not designated as hedging instruments for accounting purposes.
25 unchanged sentences
Factors that could impact the effectiveness of our hedging activities include the accuracy of our forecasts, volatility of the commodity markets and availability of hedging instruments.
−Removed: Utilization of derivatives and hedging activities is described more fully in Note 15, Derivative Financial Instruments and Hedging Activities , and Note 16, Fair Value Measurements , of the notes to our consolidated financial statements included in this Annual Report on Form 10-K.
+Added: Utilization of derivatives and hedging activities is described more fully in Note 15,
+Added: Derivative Financial Instruments and Hedging Activities , and Note 16, Fair Value Measurements , of the notes to our consolidated financial statements included in this Annual Report on Form 10-K.
Interest Rate Risk
12 unchanged sentences
Average interest rate 4.8 % 4.7 % 4.0 % — 5.7 % 5.2 % 5.1 % —
−Removed: Variable rate long-term debt $ — $ 1,000 $ — $ — $ — $ — $ 1,000 $ 1,016
−Removed: Average interest rate (a)
−Removed: — 6.8 % — — — — 6.8 % —
−Removed: (a) Borrowings are variable under the agreement and bear interest at a base rate plus an applicable margin.
Foreign Currency Risk
6 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.