9 unchanged sentences
The Company does not use commodity derivative instruments for trading or speculative purposes.
−Removed: The Company is also subject to commodity price risk arising from price movements for certain commodities included as part of its raw materials.
−Removed: The Company manages this commodity price risk in some cases by entering into contracts with adjustable prices to hedge commodity purchases.
−Removed: The Company periodically uses commodity derivative instruments in the management of this risk.
−Removed: The Company estimates a 10% increase in the market prices of commodities included as part of its raw materials over the current market prices would cumulatively increase costs during the next 12 months by approximately $71 million assuming no change in volume.
+Added: The Company is also subject to commodity price risk arising from price movements for certain commodities included as part of its input costs, which predominately relate to our Sparkling products.
+Added: The Company estimates a 10% increase in the market prices of its key commodities, including aluminum, PET resin and high-fructose corn syrup, and excluding concentrate, over the current market prices would cumulatively increase costs during the next 12 months by approximately $66 million assuming no change in volume.
+Added: The Company manages its commodity price risk in some cases by entering into contracts with adjustable prices to hedge commodity purchases, including our aluminum input costs and fuel expenses related to our selling and distribution activities.
+Added: The Company periodically uses commodity derivative instruments in the management of this risk, and estimates a 10% decrease in the underlying commodity prices would have decreased the fair value of our commodity derivative instruments by approximately $2 million as of December 31, 2024.
Fees paid by the Company for agreements to hedge commodity purchases are amortized over the corresponding period of the agreement.
The Company accounts for its commodity derivative instruments on a mark-to-market basis with any expense or income being reflected as an adjustment to cost of sales or SD&A expenses, consistent with the expense classification of the underlying hedged item.
−Removed: The annual rate of inflation in the United States, as measured by year-over-year changes in the Consumer Price Index (the “CPI”), was 3.4% in 2023, 6.5% in 2022 and 7.0% in 2021.
−Removed: Inflation in the prices of those commodities important to the Company’s business is reflected in changes in the CPI.
+Added: The annual rate of inflation in the United States, as measured by year-over-year changes in the Consumer Price Index, was 2.9% in 2024, 3.4% in 2023 and 6.5% in 2022.
+Added: Inflation in the prices of those commodities important to the Company’s business is reflected in changes in the Consumer Price Index.
The principal effect of inflation in both commodity and consumer prices on the Company’s operating results is to increase both cost of goods sold and SD&A expenses.
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.