2 unchanged sentences
Our interest rate exposure is primarily due to differences between our floating rate debt obligations compared to our floating rate short-term investments.
−Removed: As of January 29, 2022, our floating rate short-term investments exceeded our floating rate debt by approximately $3.5 billion.
−Removed: Based on our balance sheet position as of January 29, 2022, the annualized effect of a 0.1 percentage point increase in floating interest rates on our floating rate debt obligations, net of our floating rate short-term investments, would increase our earnings before income taxes by $3 million.
+Added: As of January 28, 2023, our floating rate debt exceeded our floating rate short-term investments by approximately $1.2 billion.
+Added: Based on our balance sheet position as of January 28, 2023, the annualized effect of a 0.1 percentage point increase in floating interest rates on our floating rate debt obligations, net of our floating rate short-term investments, would decrease our earnings before income taxes by $1 million.
In general, we expect our floating rate debt to exceed our floating rate short-term investments over time, but that may vary in different interest rate and economic environments.
−Removed: For example, our short-term investments as of January 29, 2022, exceeded our floating rate debt due to operating cash flow acceleration driven by strong operating results.
See further description of our debt and derivative instruments in Notes 15 and 16 to the Financial Statements.
9 unchanged sentences
As of January 28, 2023, we had hedged 70 percent of the interest rate exposure of our plan liabilities.
−Removed: TARGET CORPORATION
−Removed: 2021 Form 10-K 32
−Removed: MANAGEMENT'S DISCUSSION AND ANALYSIS Table of Contents
−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES Index to Financial Statements
As more fully described in Note 22 to the Financial Statements, we are exposed to market returns on accumulated team member balances in our nonqualified, unfunded deferred compensation plans.
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.