3 unchanged sentences
Investments classified as trading securities are recorded at fair value based upon quoted market prices.
−Removed: Any material differences between the cost and fair value of trading securities is recognized as other income (expense), net in our Consolidated Statement of Operations.
+Added: Any material differences between the cost and fair value of trading securities are recognized as other income (expense), net in our Consolidated Statement of Operations.
All of our other investments are classified as available-for-sale and consequently are recorded in the Consolidated Balance Sheets at fair value with unrealized gains or losses reported as a separate component of accumulated other comprehensive income, net of tax.
−Removed: Lam Research Corporation 2022 10-K 35
Interest Rate Risk
23 unchanged sentences
The majority of our revenues and expenses are denominated in U.S.
−Removed: However, we are exposed to foreign currency exchange rate fluctuations on non-U.S dollar transactions or cash flows.
+Added: However, we are exposed to foreign currency exchange rate fluctuations on non-U.S.
+Added: dollar transactions or cash flows.
+Added: Lam Research Corporation 2023 10-K 36
We enter into foreign currency forward contracts to minimize the short-term impact of exchange rate fluctuations on certain foreign currency denominated monetary assets and liabilities, primarily cash, third-party accounts receivable, accounts payable, and intercompany receivables and payables.
6 unchanged sentences
The change in fair value of these balance sheet hedge contracts is recorded into earnings as a component of other income (expense), net, and offsets the change in fair value of the foreign currency denominated monetary assets and liabilities also recorded in other income (expense), net, assuming the hedge contract fully covers the hedged items.
−Removed: The notional amount and unrealized gain of our outstanding forward and option contracts that are designated as cash flow hedges, as of June 26, 2022, are shown in the table below.
−Removed: This table also shows the change in fair value of these cash flow hedges assuming a hypothetical foreign currency exchange rate movement of plus or minus 10 percent and plus or minus 15 percent.
−Removed: Lam Research Corporation 2022 10-K 36
−Removed: Amount Unrealized FX
−Removed: Gain/(Loss) Valuation of FX Contracts Given an X%
−Removed: Increase (+)/Decrease(-) in Each
−Removed: 2022 = +/- (10%) = +/- (15%)
−Removed: (in thousands)
−Removed: Forward contracts, cash flow hedges
−Removed: Sell Japanese yen $ 541,999 $ 27,396 $ 50,808 $ 76,213
−Removed: Buy Euro 150,020 (9,365) 13,927 20,891
−Removed: Buy Indian rupee 70,768 (630) 7,109 10,663
−Removed: Buy Korean won 57,220 (4,110) 5,287 7,930
−Removed: Buy Malaysian ringgit 28,203 133 2,793 4,189
−Removed: $ 13,424 $ 79,924 $ 119,886
−Removed: The notional amount and unrealized loss of our outstanding foreign currency forward contracts that are designated as balance sheet hedges, as of June 26, 2022, are shown in the table below.
−Removed: This table also shows the change in fair value of these balance sheet hedges, assuming a hypothetical foreign currency exchange rate movement of plus or minus 10 percent and plus or minus 15 percent.
+Added: The unrealized gain of our outstanding forward and option contracts that are designated as cash flow hedges, as of June 25, 2023, and the change in fair value of these cash flow hedges assuming a hypothetical foreign currency exchange rate movement of plus or minus 10 percent and plus or minus 15 percent are not significant.
+Added: The unrealized loss of our outstanding foreign currency forward contracts that are designated as balance sheet hedges, as of June 25, 2023, and the change in fair value of these balance sheet hedges, assuming a hypothetical foreign currency exchange rate movement of plus or minus 10 percent and plus or minus 15 percent are not significant.
These changes in fair values would be offset in other income (expense), net, by corresponding change in fair values of the foreign currency denominated monetary assets and liabilities, assuming the hedge contract fully covers the intercompany and trade receivable balances.
−Removed: Amount Unrealized FX
−Removed: Gain/(Loss) Valuation of FX Contracts Given an X%
−Removed: Increase (+)/Decrease(-) in Each
−Removed: 2022 = +/- (10%) = +/- (15%)
−Removed: (in thousands)
−Removed: Forward contracts, balance sheet hedges
−Removed: Sell Korean won $ 322,808 $ 6 $ 32,261 $ 48,391
−Removed: Buy Chinese renminbi 64,434 12 6,447 9,671
−Removed: Buy Euro 43,321 (18) 4,324 6,486
−Removed: Buy Taiwan dollar 33,752 (33) 3,360 5,041
−Removed: Buy British pound 20,983 (2) 2,097 3,146
−Removed: Buy Singapore dollar 12,243 (1) 1,224 1,836
−Removed: Buy Swiss francs 8,841 (3) 883 1,324
−Removed: Sell Indian rupee 3,060 (4) 307 460
−Removed: Sell Malaysian ringgit
−Removed: Buy Japanese yen 736 — 74 111
−Removed: $ (43) $ 51,068 $ 76,602
Lam Research Corporation 2023 10-K 37
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.