28 unchanged sentences
These investments are primarily managed by external managers within the guidelines of the Company’s investment policy.
−Removed: Our policy requires these investments to be investment grade, with the primary objective of minimizing the risk of principal loss.
+Added: Our policy requires these
+Added: investments to be investment grade, with the primary objective of minimizing the risk of principal loss.
In addition, our policy limits the amount of credit exposure to any one issuer.
7 unchanged sentences
These values included derivative instruments that were designated and qualified for hedge accounting along with derivative instruments that are economic hedges.
−Removed: The fair value of commodity derivatives that qualified for hedge accounting resulted in a net unrealized gain of $2 million as of December 31, 2024, and we estimate that a 10% decrease in underlying commodity prices would have resulted in an $8 million decrease in fair value .
+Added: The fair value of commodity derivatives that qualified for hedge accounting resulted in a net unrealized loss of $9 million as of December 31, 2025, and we estimate that a 10% decrease in underlying commodity prices would have resulted in a $3 million increase in fair value .
The fair value of the commodity derivatives that did not qualify for hedge accounting resulted in a net loss of $2 million as of December 31, 2025, and we estimate that a 10% decrease in underlying commodity prices would have resulted in a $33 million decrease in fair value.
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.