13 unchanged sentences
We are exposed to currency exchange rate risk as we transact business in multiple currencies, including exposure related to anticipated sales, anticipated purchases and assets and liabilities denominated in currencies other than the U.S.
−Removed: We transact business in over 30 currencies worldwide, of which the most significant to operations are the Euro, Chinese Renminbi, Japanese Yen, Australian Dollar, Canadian Dollar, Pound Sterling and New Taiwan Dollar.
+Added: We transact business in approximately 30 currencies worldwide, of which the most significant to operations are the Euro, Chinese Renminbi, Japanese Yen, Australian Dollar, Canadian Dollar, Pound Sterling and New Taiwan Dollar.
For the year ended March 31, 2023, approximately 51% of our sales were in non-U.S.
5 unchanged sentences
We enter into currency forward and swap contracts to reduce the short-term effects of currency fluctuations on certain receivables or payables denominated in currencies other than the functional currencies of our subsidiaries.
−Removed: These contracts generally mature within one month.
+Added: These contracts generally mature within approximately one month.
The gains or losses on these contracts are recognized in earnings based on the changes in fair value.
2 unchanged sentences
We enter into cash flow hedge contracts to protect against exchange rate exposure of forecasted inventory purchases.
−Removed: These hedging contracts mature within four months.
+Added: These hedging contracts mature within approximately four months.
Gains and losses in the fair value of the effective portion of the hedges are deferred as a component of AOCI until the hedged inventory purchases are sold, at which time the gains or losses are reclassified to cost of goods sold.
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.