3 unchanged sentences
The investment portfolio is managed consistent with our overall liquidity strategy in support of both working capital needs and strategic growth of our businesses.
−Removed: As of January 30, 2022, we performed a sensitivity analysis on our investment portfolio.
−Removed: According to our analysis, parallel shifts in the yield curve of both plus or minus 0.5%, taking into account a zero percent yield floor, would result in a decrease in fair value for these investments of $33 million, or an increase in fair value for these investments of $22 million, respectively.
−Removed: At January 30, 2022, we had $11.00 billion of senior Notes outstanding.
+Added: As of the end of fiscal year 2023, we performed a sensitivity analysis on our investment portfolio.
+Added: According to our analysis, parallel shifts in the yield curve of both plus or minus 0.5% would result in changes in fair values for these investments of $17 million.
+Added: As of the end of fiscal year 2023, we had $11.00 billion of senior Notes outstanding.
We carry the Notes at face value less unamortized discount on our Consolidated Balance Sheets.
As the Notes bear interest at a fixed rate, we have no financial statement risk associated with changes in interest rates.
−Removed: Refer to Note 12 of the Notes to the Consolidated Financial Statements in Part IV, Item 15 of this Annual Report on Form 10-K for additional information.
+Added: Refer to Note 12 of
+Added: the Notes to the Consolidated Financial Statements in Part IV, Item 15 of this Annual Report on Form 10-K for additional information.
Foreign Exchange Rate Risk
−Removed: We consider our direct exposure to foreign exchange rate fluctuations to be minimal.
−Removed: Gains or losses from foreign currency remeasurement are included in other income or expense and to date have not been significant.
+Added: We consider our direct exposure to foreign exchange rate fluctuations to be minimal as our sales are in United States dollars and foreign currency forward contracts are used to offset movements of foreign currency exchange rate movements.
+Added: Gains or losses from foreign currency remeasurement are included in other income or expense.
The impact of foreign currency transaction gain or loss included in determining net income was not significant for fiscal years 2023 and 2022.
4 unchanged sentences
Our operating expenses benefit from a stronger dollar and are adversely affected by a weaker dollar.
+Added: The primary currency we hedge is Israeli Shekel.
We use foreign currency forward contracts to mitigate the impact of foreign currency exchange rate movements on our operating expenses.
4 unchanged sentences
Therefore, the change in fair value of these contracts is recorded in other income or expense and offsets the change in fair value of the hedged foreign currency denominated monetary assets and liabilities, which is also recorded in other income or expense.
−Removed: dollar strengthened by 10% as of January 30, 2022 and January 31, 2021, the amount recorded in accumulated other comprehensive income (loss) related to our foreign exchange contracts before tax effect would have been approximately $103 million and $84 million lower as of January 30, 2022 and January 31, 2021, respectively.
+Added: dollar strengthened by 10% as of January 29, 2023 and January 30, 2022, the amount recorded in accumulated other comprehensive income (loss) related to our foreign exchange contracts before tax effect would have been approximately $112 million and $103 million lower, respectively.
Change in value recorded in accumulated other comprehensive income (loss) would be expected to offset a corresponding change in hedged forecasted foreign currency expenses when recognized.
6 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.