5 unchanged sentences
Such exposures result from purchases, sales, cash and intercompany loans that are denominated in currencies other than the functional currencies of the respective operations.
−Removed: The currency-exchange contracts principally hedge transactions denominated in Swiss franc, euro, British pounds sterling, Canadian dollars, Hong Kong dollars, Japanese yen and Czech koruna.
+Added: The currency-exchange contracts principally hedge transactions denominated in euro, Swiss franc, British pounds sterling, Canadian dollars, Czech koruna, Japanese yen and Hong Kong dollars.
Income and losses arising from these derivative contracts are recognized as offsets to losses and income resulting from the underlying exposure being hedged.
3 unchanged sentences
As of December 31, 2021, the company’s debt portfolio was comprised primarily of fixed rate borrowings.
−Removed: The fair market value of the company’s fixed interest rate debt is subject to interest rate risk.
+Added: The fair market value of the company’s
+Added: THERMO FISHER SCIENTIFIC INC.
+Added: Quantitative and Qualitative Disclosures About Market Risk (continued)
+Added: fixed interest rate debt is subject to interest rate risk.
Generally, the fair market value of fixed interest rate debt will increase as interest rates fall and decrease as interest rates rise.
9 unchanged sentences
The company’s investment in international subsidiaries is sensitive to fluctuations in currency exchange rates.
−Removed: The functional currencies of the company’s international subsidiaries are principally denominated in euro, British pounds sterling, Swedish kronor, Canadian dollars, Swiss franc, Norwegian kroner and Danish kroner.
+Added: The functional currencies of the company’s international subsidiaries are principally denominated in euro, British pounds sterling, Swedish kronor, Canadian dollars, Norwegian kroner and Danish kroner.
The effect of a change in the period ending currency exchange rates on the company’s net investment in international subsidiaries is reflected in the “accumulated other comprehensive items” component of shareholders’ equity.
9 unchanged sentences
A 10% depreciation in the related year-end 2021 non-functional currency exchange rates applied to such cash balances would result in a negative impact of $27 million on the company’s net income.
−Removed: THERMO FISHER SCIENTIFIC INC.
Financial Statements and Supplementary Data
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.