Quantitative and Qualitative Disclosures About Market Risk
−Removed: At March 31, 2023, we had interest rate swaps with a notional value of $1,750 and a fair value of $7.
+Added: At June 30, 2023, we had interest rate swaps with a notional value of $1,750 and a fair value of $(5).
We have fixed-to-fixed and floating-to-fixed cross-currency swaps on foreign currency-denominated debt instruments with a U.S.
dollar notional value of $40,986 to hedge our exposure to changes in foreign currency exchange rates and interest rates.
−Removed: These derivatives have been designated as cash flow or fair value hedges with a net fair value of $(5,440) at March 31, 2023.
−Removed: We had no rate locks at March 31, 2023.
+Added: These derivatives have been designated as cash flow or fair value hedges with a net fair value of $(4,790) at June 30, 2023.
+Added: We had no rate locks at June 30, 2023.
We have foreign exchange contracts with a U.S.
dollar notional value of $617 to provide currency at a fixed rate to hedge a portion of the exchange risk involved in foreign currency-denominated transactions.
−Removed: These foreign exchange contracts include fair value hedges with a total net fair value of $(20) at March 31, 2023.
+Added: These foreign exchange contracts include fair value hedges with a total net fair value of $(19) at June 30, 2023.
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.