QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: Our primary market risks are exposures to changes in interest rates impacting our investment income and interest expense and the fair value of certain of our fixed-rate investments and debt, as well as foreign currency exchange rate risk of the U.S.
−Removed: dollar primarily to the Brazilian real and Chilean peso.
+Added: Our primary market risks are exposures to changes in interest rates impacting our investment income and interest expense and the fair value of certain of our fixed-rate investments and debt.
As of December 31, 2024, we had $33 billion of financial assets on which the interest rates received vary with market interest rates, which may significantly impact our investment income.
28 unchanged sentences
The impact of hypothetical changes in interest rates may not reflect the full 100 or 200 basis point change on interest income and interest expense or on the fair value of financial assets and liabilities as the rates are assumed to not fall below zero.
−Removed: We have an exposure to changes in the value of foreign currencies, primarily the Brazilian real and the Chilean peso, to the U.S.
−Removed: dollar in translation of UnitedHealthcare Employer & Individual’s international business operating results at the average exchange rate over the accounting period, and assets and liabilities at the exchange rate at the end of the accounting period.
−Removed: The gains or losses resulting from translating foreign assets and liabilities into U.S.
−Removed: dollars are included in equity and comprehensive income.
−Removed: An appreciation of the U.S.
−Removed: dollar against the Brazilian real or Chilean peso reduces the carrying value of the net assets denominated in those currencies.
−Removed: For example, as of December 31, 2023, a hypothetical 10% and 25% increase in the value of the U.S.
−Removed: dollar against those currencies would have caused a reduction in net assets of approximately $590 million and $1.3 billion, respectively.
−Removed: We manage exposure to foreign currency earnings risk primarily by conducting our international business operations in their functional currencies.
−Removed: As of December 31, 2023, we had $ 4.9 billion of investments in equity securities, primarily consisting of venture investments, employee savings plan related investments and non-U.S.
−Removed: dollar fixed-income funds.
−Removed: Valuations in non-U.S.
−Removed: dollar funds are subject to foreign exchange rates.
+Added: As of December 31, 2024, we had $ 4.9 billion of investments in equity securities, primarily consisting of venture investments and employee savings plan related investments.
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.