25 unchanged sentences
One percentage point instantaneous increase in interest rates
−Removed: One percentage point instantaneous decrease in interest rates (a)
−Removed: (a) Pre-tax cash flow sensitivity given a one percentage point decrease in interest rates requires an assumption of negative interest rates in markets where existing interest rates are below one percent.
+Added: One percentage point instantaneous decrease in interest rates
While the sensitivity analysis presented is Ford Credit’s best estimate of the impacts of the specified assumed interest rate scenarios, its actual results could differ from those projected.
13 unchanged sentences
Derivative Fair Values.
−Removed: The net fair value of Ford Credit’s derivative financial instruments at December 31, 2022 was a liability of $2.0 billion, compared to an asset of $553 million at December 31, 2021.
−Removed: The decline in net fair value was driven by higher U.S.
−Removed: interest rates and a stronger U.S.
+Added: The net fair value of Ford Credit’s derivative financial instruments at December 31, 2023 was a liability of $1.3 billion, compared to a liability of $2.0 billion at December 31, 2022.
COUNTERPARTY RISK
10 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.