3 unchanged sentences
Consequently, a portion of our revenues and expenses may be affected by fluctuations in foreign currency exchange rates.
−Removed: For the year ended December 31, 2023, currency exchange rate fluctuations increased our consolidated revenues by approximately $6.1 million and increased our operating income by approximately $8.6 million compared to the prior year, calculated by converting revenues and operating income, respectively, for the current year, excluding revenues and operating income from current year acquisitions, in local currencies using exchange rates for the prior year.
+Added: For the year ended December 31, 2024, the impact of currency exchange rate fluctuations to our consolidated revenues and operating income was insignificant.
Generally, the functional currency of our various subsidiaries is their local currency.
11 unchanged sentences
Transaction gains and losses on intercompany balances of a long-term investment nature are also recognized as a component of other comprehensive income.
−Removed: When a foreign subsidiary is divested in its entirety, the associated accumulated foreign currency translation gains or losses are reclassified from the separate component of equity into our consolidated statement of income.
+Added: When a foreign subsidiary is disposed of in its entirety, the associated accumulated foreign currency translation gains or losses are reclassified from the separate component of equity into our consolidated statement of income.
Interest Rate Risk
3 unchanged sentences
We have an unsubordinated unsecured $5.75 billion revolving credit facility, as well as a $2.0 billion commercial paper program and various lines of credit that we use to fund settlement in certain of our markets, each of which bears interest at rates that are based on market rates and fluctuate accordingly.
−Removed: As of December 31, 2023, the amount outstanding under these variable-rate debt arrangements and settlement lines of credit was $3,922.4 million .
+Added: As of December 31, 2024, the amount outstanding under these variable-rate debt arrangements and settlement lines of credit was $2.0 billion.
+Added: As of December 31, 2024, we had interest rate swaps with a total notional amount of $1.5 billion to hedge changes in cash flows attributable to interest rate risk on a portion of our variable-rate debt instruments as further discussed below.
The interest earned on our invested cash and the interest paid on a portion of our debt are based on variable interest rates;
4 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.