2 unchanged sentences
The impact of changes in interest rates would be reduced by the fact that increases (decreases) in fair values of assets would be partially offset by corresponding changes in fair values of liabilities.
−Removed: In aggregate, the estimated impact of an immediate and sustained 100 bps increase or decrease in interest rates on the fair values of our interest rate-sensitive financial instruments would not be material to our financial position.
+Added: In aggregate, the estimated impact of an immediate and sustained 100 basis points (“bps”) increase or decrease in interest rates on the fair values of our interest rate-sensitive financial instruments would not be material to our financial position.
+Added: We derived the changes in fair values by modeling estimated cash flows of certain assets and liabilities.
The estimated increases (decreases) in fair values of interest rate-sensitive financial instruments were as follows:
1 unchanged sentence
(dollars in millions) +100 bps -100 bps +100 bps -100 bps
−Removed: Net finance receivables, less allowance for finance receivable losses
+Added: Net finance receivables, less allowance for finance receivable losses (a)
$ (210) $ 215 $ (218) $ 223
−Removed: Finance receivables held for sale (5) 6 (8) 10
−Removed: Fixed-maturity investment securities (72) 74 (66) 71
−Removed: Long-term debt $ (667) $ 713 $ (391) $ 361
−Removed: We derived the changes in fair values by modeling estimated cash flows of certain assets and liabilities.
−Removed: We adjusted the cash flows to reflect changes in prepayments and calls, but did not consider loan originations, debt issuances, or new investment purchases.
+Added: Fixed-maturity investment securities (b)
+Added: (78) 82 (72) 74
+Added: Long-term debt (b)
+Added: $ (652) $ 673 $ (667) $ 713
+Added: (a) We did not adjust the estimated cash flows for any future loan originations.
+Added: (b) We adjusted the estimated cash flows to reflect expected prepayment and calls, but did not consider any new investment purchases or debt issuances.
We did not enter into interest rate-sensitive financial instruments for trading or speculative purposes.
4 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.