17 unchanged sentences
anticipated transactions beyond 18 months.
−Removed: The following table presents a sensitivity analysis resulting from a hypothetical change of 10% in market prices as of October 3, 2020 and September 28, 2019 , on the fair value of open positions.
+Added: The following table presents a sensitivity analysis resulting from a hypothetical change of 10% in market prices as of October 2, 2021 and October 3, 2020, on the fair value of open positions.
The fair value of such positions is a summation of the fair values calculated for each commodity by valuing each net position at quoted forward and option prices.
The market risk exposure analysis included both derivatives designated as hedge instruments and derivatives not designated as hedge instruments.
−Removed: Effect of 10% change in fair value
+Added: Effect of 10% change in fair value in millions
+Added: Live Cattle $ 42 $ 24
+Added: Lean Hogs 38 19
+Added: Soybean Meal 26 28
INTEREST RATE RISK
At October 2, 2021, we had variable rate debt of $11 million with a weighted average interest rate of 3.0%.
−Removed: A hypothetical 10% increase in interest rates effective at October 3, 2020 , and September 28, 2019 , would have a minimal effect on interest expense.
+Added: A hypothetical 10% increase in interest rates effective at October 2, 2021, and October 3, 2020, would have a minimal effect on interest expense.
Additionally, changes in interest rates impact the fair value of our fixed-rate debt.
1 unchanged sentence
Market risk for fixed-rate debt is estimated as the potential increase in fair value, resulting from a hypothetical 10% decrease in interest rates.
−Removed: A hypothetical 10% decrease in interest rates would have increased the fair value of our fixed-rate debt by approximately $108 million at October 3, 2020 , and $184 million at September 28, 2019 .
+Added: A hypothetical 10% decrease in interest rates would have increased the fair value of our fixed-rate debt by approximately $154 million at October 2, 2021, and $108 million at October 3, 2020.
The fair values of our debt were estimated based on quoted market prices and/or published interest rates.
8 unchanged sentences
We periodically enter into foreign exchange forward and option contracts to hedge some portion of our foreign currency exposure.
−Removed: A hypothetical 10% change in foreign exchange rates related to the foreign exchange forward and option contracts would have had a $54 million and $15 million impact on pretax income at October 3, 2020 and September 28, 2019 , respectively.
+Added: A hypothetical 10% change in foreign exchange rates related to the foreign exchange forward and option contracts would have had a $13 million and $54 million impact on pretax income at October 2, 2021 and October 3, 2020, respectively.
CONCENTRATIONS OF CREDIT RISK
3 unchanged sentences
We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral.
−Removed: At October 3, 2020 and September 28, 2019 , 16.5% and 16.2% , respectively, of our net accounts receivable balance was due from Walmart Inc.
+Added: At October 2, 2021 and October 3, 2020, 16.3% and 16.5%, respectively, of our net accounts receivable balance was due from Walmart Inc.
No other single customer or customer group represented 10% or greater of net accounts receivable.
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.