What changed 10-K

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

2025-01-31 compared with 2024-02-02 · 2 added, 0 removed, 10 unchanged (17% of the section changed)

4 unchanged sentences

We have established interest rate risk limits that are closely monitored by measuring interest rate sensitivities of our debt portfolio.

As of December 31, 2024, we held €2.0 billion in EUR-denominated Senior Notes, which are subject to foreign currency exchange rate fluctuations.

We have entered into cross-currency swap agreements that qualify and have been designated as fair value hedges of our EUR-denominated debt, mitigating our exposure to foreign currency transaction gains and losses.

We do not foresee significant changes in the strategies used to manage market risk in the near future.

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.