8 unchanged sentences
Due to the nature of our cash equivalents—that they are readily convertible to cash—we do not anticipate any material effect on our portfolio due to fluctuations in interest rates.
−Removed: In the second quarter of 2023, we borrowed $1.2 billion of variable-rate debt in conjunction with the Transporeon acquisition.
−Removed: At the end of 2023, our outstanding balance of variable-rate debt was $1.3 billion, see details in Note 8 “Debt” of this report.
−Removed: We are exposed to market risk due to the possibility of changing interest rates.
−Removed: While not predictive, a hypothetical 50 basis point increase in interest rates on our variable-rate debt would result in an increase of approximately $6.5 million in annual interest expense.
Foreign Currency Exchange Rate Risk
6 unchanged sentences
As exchange rates vary, operating income may differ from expectations.
−Removed: In 2023, changes in foreign currency exchange rates had a favorable impact of $0.9 million on revenue and an unfavorable impact of $5.8 million on operating income.
−Removed: We enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations on cash, debt, and certain trade and intercompany receivables and payables, primarily denominated in Euro, Canadian Dollars, New Zealand Dollars, British Pound, and Brazilian Real.
+Added: In 2024, changes in foreign currency exchange rates had a favorable impact of $2.7 million on revenue and $5.9 million on operating income.
+Added: We enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations on cash, debt, and certain trade and intercompany receivables and payables, primarily denominated in Euro, Canadian Dollars, New Zealand Dollars, British Pound, and Australian Dollars.
These contracts reduce the exposure to fluctuations in foreign currency exchange rate movements, as the gains and losses associated with foreign currency balances are generally offset with the gains and losses on the forward contracts.
We occasionally enter into foreign currency exchange contracts to hedge the purchase price of some of our larger business acquisitions.
−Removed: Our foreign currency contracts are marked-to-market through earnings every period and generally range in maturity from one to two months, or from four to six months for acquisitions.
+Added: Our foreign currency contracts are marked-to-market through earnings every period and generally range in maturity from one to two months.
We do not enter into foreign currency contracts for trading purposes.
7 unchanged sentences
Sold 24.0 — 50.8 (0.3)
−Removed: Foreign currency exchange contract related to acquisition — — 1,999.4 10.4
Index to Financial Statements
−Removed: Consolidated Balance Sheets
−Removed: Consolidated Statements of Income
−Removed: Consolidated Statements of Comprehensive Income
−Removed: Consolidated Statements of Stockholders’ Equity
−Removed: Consolidated Statements of Cash Flows
−Removed: Notes to Consolidated Financial Statements
−Removed: De scription of Business and Accounting Policies
−Removed: Earnings per Share
−Removed: Acquisitio ns
−Removed: D ivestitures
−Removed: Intangible Assets and Goodwill
−Removed: Certain Balance Sheet Components
−Removed: Reporting Segment and Geographic Information
−Removed: Commitments and Contingencies
−Removed: Fair Value Measurements
−Removed: Deferred Revenue and Remaining Performance Obligations
−Removed: Employee Stock Benefit Plans
−Removed: Common Stock Repurchase
−Removed: S ubsequent Event
−Removed: Reports of Independent Registered Public Accounting Firm (PCAOB ID:
−Removed: Index to Financial Statements
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.