What changed 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk

2026-07-23 compared with 2026-04-28 · 1 added, 1 removed, 7 unchanged (22% 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 March 31, 2026, we have €7.3 billion outstanding in EUR-denominated Senior Notes, which are subject to foreign currency exchange rate fluctuations.

As of June 30, 2026, we have €7.3 billion outstanding 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.

1 unchanged sentence

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.