6 unchanged sentences
These operations also have net assets and liabilities not denominated in the functional currency, which exposes us to changes in foreign currency exchange rates that impact income.
−Removed: We recorded a foreign exchange loss in our income statement of $6 million in the first three months of 2024, compared to a $9 million foreign exchange loss in the same period of the prior year.
+Added: We recorded a foreign exchange loss in our income statement of $17 million in the first six months of 2024, compared to a $35 million foreign exchange loss in the same period of the prior year.
Gains and losses are primarily due to exchange rate fluctuations related to monetary asset balances denominated in currencies other than the functional currency and adjustments to our hedged positions as a result of changes in foreign currency exchange rates.
7 unchanged sentences
We do not use foreign currency forward contracts for trading or speculative purposes.
−Removed: The Company had other financial market risk sensitive instruments (cash balances, overdraft facilities, accounts receivable and accounts payable) denominated in foreign currencies with transactional exposures totaling $475 million and translation exposures totaling $309 million as of March 31, 2024.
+Added: The Company had other financial market risk sensitive instruments (cash balances, overdraft facilities, accounts receivable and accounts payable) denominated in foreign currencies with transactional exposures totaling $439 million and translation exposures totaling $333 million as of June 30, 2024.
The Company estimates that a hypothetical 10% movement of all applicable foreign currency exchange rates on the transactional exposures could affect net income by $35 million and the translational exposures could affect Other Comprehensive Income by $33 million.
3 unchanged sentences
Interest Rate Risk
−Removed: At March 31, 2024, borrowings consisted of $1,091 million in 3.95% Senior Notes, $496 million in 3.60% Senior Notes, and other debt of $221 million.
−Removed: At March 31, 2024, there were no outstanding letters of credit issued under the credit facility, resulting in $1.95 billion of funds available under this credit facility.
+Added: At June 30, 2024, borrowings consisted of $1,091 million in 3.95% Senior Notes, $496 million in 3.60% Senior Notes, and other debt of $161 million.
+Added: At June 30, 2024, there were no outstanding letters of credit issued under the Company's revolving credit facility, resulting in $2.0 billion of available funds.
Additionally, the Company’s joint venture has a $150 million bank line of credit for the construction of a facility in Saudi Arabia.
5 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.