5 unchanged sentences
According to our analysis, parallel shifts in the yield curve of plus or minus 0.5% would result in a change in fair value for these investments of $238 million.
−Removed: As of the end of fiscal year 2024, we had $9.7 billion of senior Notes net outstanding.
+Added: As of the end of fiscal year 2025, we had $8.5 billion of senior Notes outstanding.
We carry the Notes at face value less unamortized discount on our Consolidated Balance Sheets.
−Removed: As the Notes bear interest at a fixed rate, we have no
−Removed: financial statement risk associated with changes in interest rates.
+Added: As the Notes bear interest at a fixed rate, we have no financial statement risk associated with changes in interest rates.
Refer to Note 11 of 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 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: We consider our direct exposure to foreign exchange rate fluctuations to be minimal as substantially all of our sales are in United States dollars and foreign currency forward contracts are used to offset movements of foreign currency exchange rates.
Gains or losses from foreign currency remeasurement are included in other income or expenses.
6 unchanged sentences
If an adverse 10% foreign exchange rate change was applied to our balance sheet hedging contracts, it would have resulted in an adverse impact on income before taxes of $129 million and $60 million as of January 26, 2025 and January 28, 2024, respectively.
−Removed: 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 contracts fully cover the foreign currency denominated monetary assets and liabilities balances.
+Added: These changes in fair values would be offset in other income (expense), net by
+Added: corresponding change in fair values of the foreign currency denominated monetary assets and liabilities, assuming the hedge contracts fully cover the foreign currency denominated monetary assets and liabilities balances.
Refer to Note 10 of the Notes to the Consolidated Financial Statements in Part IV, Item 15 of this Annual Report on Form 10-K for additional information.
3 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.