10 unchanged sentences
In addition, we utilize cross-currency swap contracts to hedge our net investment in certain foreign operations.
−Removed: A 10% appreciation or depreciation of the underlying currency in our cross-currency swap contracts or foreign currency forward contracts from the fiscal year end 2022 market rates would have changed the unrealized
−Removed: value of our contracts by $151 million.
A 10% appreciation or depreciation of the underlying currency in our cross-currency swap contracts or foreign currency forward contracts from the fiscal year end 2023 market rates would have changed the unrealized value of our contracts by $368 million.
+Added: A 10% appreciation or depreciation of the underlying currency in our cross-currency swap contracts or foreign currency forward contracts from the fiscal year end 2022 market rates would have changed the unrealized value of our contracts by $151 million.
Such gains or losses on these contracts would generally be offset by the losses or gains on the revaluation or settlement of the underlying transactions.
3 unchanged sentences
To manage the interest rate exposure, we use interest rate swap contracts to convert a portion of fixed rate debt into variable rate debt.
−Removed: There were no such contracts and no floating rate debt outstanding at fiscal year end 2022 or 2021.
−Removed: We may use forward starting interest rate swap contracts to manage interest rate exposure in periods prior to the anticipated issuance of fixed rate debt.
−Removed: At fiscal year end 2021, we had forward starting interest rate swap contracts which had an aggregate notional value of $450 million and were designated as cash flow hedges.
−Removed: There were no forward starting interest rate swap contracts at fiscal year end 2022.
+Added: Also, we may use forward starting interest rate swap contracts to manage interest rate exposure in periods prior to the anticipated issuance of fixed rate debt.
+Added: There were no such contracts and no floating debt outstanding at fiscal year end 2023 or 2022.
We utilize investment swap contracts to manage earnings exposure on certain nonqualified deferred compensation liabilities.
4 unchanged sentences
At fiscal year end 2023, our commodity hedges, which related to expected purchases of gold, silver, copper, and palladium, were in a net loss position of $23 million and had a notional value of $459 million.
−Removed: At fiscal year end 2021, our commodity hedges, which related to expected purchases of gold, silver, copper, and palladium, were in a net gain position of $1 million and had a notional value of $512 million.
+Added: At fiscal year end 2022, our commodity hedges, which related to expected purchases of gold, silver, copper, and palladium, were in a net loss position of $82 million and had a notional value of $566 million.
A 10% appreciation or depreciation of commodity prices from the fiscal year end 2023 prices would have changed the unrealized value of our forward contracts by $44 million.
2 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.