14 unchanged sentences
In addition to carrying out this evaluation process, we may also obtain financial and non-financial guarantees for risks arising from credit granted for the sale of agricultural equipment, construction equipment and related parts.
−Removed: These guarantees are further secured, where possible, by retention of title clauses or specific guarantees on financed equipment sales to the distribution network and on equipment under finance or leasing agreements.
+Added: These guarantees are further secured, where
+Added: possible, by retention of title clauses or specific guarantees on financed equipment sales to the distribution network and on equipment under finance or leasing agreements.
Balances which are objectively uncollectible either in part or for the whole amount are written down on a specific basis if they are individually significant.
30 unchanged sentences
Sensitivity Analysis
−Removed: The potential loss in fair value of derivative financial instruments held for currency risk management (currency swaps/forwards, currency options, interest rate and currency swaps) at December 31, 2022 resulting from a hypothetical change of 10% in the exchange
−Removed: rates amounted to approximately $276 million ($344 million at December 31, 2021).
+Added: The potential loss in fair value of derivative financial instruments held for currency risk management (currency swaps/forwards, currency options, interest rate and currency swaps) at December 31, 2023 resulting from a hypothetical change of 10% in the exchange rates amounted to approximately $167 million ($276 million at December 31, 2022).
The valuation model for currency options assumes that market volatility at year-end remains unchanged.
17 unchanged sentences
A homogeneous category is defined on the basis of the currency in which the financial assets and liabilities are denominated.
−Removed: Other Risks in Connection with Derivative Financial Instruments
−Removed: We have entered derivative contracts linked to commodity prices to hedge specific exposures on supply contracts.
−Removed: Sensitivity Analysis
−Removed: In the event of a hypothetical change of 10% in the underlying raw materials prices, the potential loss in fair value of outstanding derivative financial instruments at December 31, 2022 linked to commodity prices would not have been significant (not significant at December 31, 2021).
Financial Statements and Supplementary Data
2 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.