3 unchanged sentences
Commodity Price Risk:
−Removed: The Company is subject to commodity price risk primarily through grain and live hog markets.
+Added: The Company is subject to commodity price risk primarily through grain, lean hog, and natural gas markets.
To reduce these exposures and offset the fluctuations caused by changes in market conditions, the Company employs hedging programs.
−Removed: These programs utilize futures, swaps, and options and are accounted for as cash flow hedges.
+Added: These programs utilize futures, swaps, and options contracts and are accounted for as cash flow hedges.
The fair value of the Company’s cash flow commodity contracts as of October 29, 2023, was $17.1 million compared to $21.6 million as of October 30, 2022.
8 unchanged sentences
Foreign Currency Exchange Rate Risk:
−Removed: The fair values of certain Company assets are subject to fluctuations in foreign currency exchange rates.
−Removed: The Company's net asset position in foreign currencies as of October 30, 2022, was $652.4 million, compared to $657.2 million as of October 31, 2021, with most of the exposure existing in Chinese yuan and Brazilian real.
+Added: The fair values of certain assets are subject to fluctuations in foreign currency exchange rates.
+Added: The Company's net asset position in foreign currencies as of October 29, 2023, was $1.1 billion, compared to $652.4 million as of October 30, 2022, with most of the exposure existing in Indonesian rupiah, Chinese yuan, and Brazilian real.
The Company currently does not use market risk sensitive instruments to manage this risk.
1 unchanged sentence
The Company has corporate-owned life insurance policies classified as trading securities as part of a rabbi trust to fund certain supplemental executive retirement plans and deferred income plans.
−Removed: As of October 30, 2022, the balance of these securities totaled $186.2 million compared to $203.0 million as of October 31, 2021.
+Added: As of October 29, 2023, the balance of
+Added: these securities totaled $188.2 million compared to $186.2 million as of October 30, 2022.
The rabbi trust is invested primarily in fixed income funds.
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.