8 unchanged sentences
As of December 31, 2024, variable rate borrowings represented approximately 7% of our total borrowings.
−Removed: The following table provides additional information about our gross long-term debt:
+Added: The following table provides additional information about our gross long-term debt subject to changes in interest rates:
Debt maturing in Fair Value December 31, 2024
7 unchanged sentences
Our worldwide operations are conducted in multiple foreign currencies, but we report our financial results in U.S.
−Removed: We manage the foreign currency risk through normal operating activities and, when deemed appropriate, through the use of derivative instruments.
+Added: We manage the foreign currency risk through normal operating activities and, when
+Added: deemed appropriate, through the use of derivative instruments.
We do not enter into derivative instruments for trading or speculative purposes.
5 unchanged sentences
As of December 31, 2024 , a 1% adverse change in the exchange rate would result in a foreign currency transaction loss of $25 million.
−Removed: dollar denominated intercompany debt that is held with foreign subsidiaries, which may cause foreign currency transaction losses that do not eliminate in consolidation.
+Added: We have intercompany debt that is denominated in currencies other than the subsidiaries’ functional currency, which may cause foreign currency transaction losses that do not eliminate in consolidation.
As of December 31, 2024 , a 10% adverse change in the exchange rate would result in a foreign currency transaction loss of $220 million.
−Removed: We hold forward foreign exchange contracts to hedge certain portions of forecasted cash flows denominated in foreign currencies.
−Removed: As of December 31, 2023 , the notional amount of forward contracts was $528 million with a fair value of negative $7 million and a 10% adverse change in the exchange rate would result in a foreign currency transaction loss of approximately $53 million.
+Added: We hold forward foreign exchange contracts to hedge certain portions of forecasted cash flows denominated in Japanese yen.
+Added: As of December 31, 2024 , the notional amount of forward contracts was $1.3 billion and a 10% adverse change in the exchange rate would result in a foreign currency transaction loss of approximately $127 million.
Equity price risk.
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.