9 unchanged sentences
Dollars of products and services that we provide in foreign markets.
−Removed: We may enter into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks associated with certain existing assets and liabilities, and net investments in foreign subsidiaries.
+Added: We may enter into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks associated with certain existing assets and liabilities, net investments in foreign subsidiaries, and forecast purchases denominated in foreign currencies.
We may hedge portions of forecasted foreign currency exposure, typically for one to three months.
5 unchanged sentences
Additionally, we may choose not to hedge certain foreign exchange exposures for a variety of reasons including, but not limited to, accounting considerations, the prohibitive economic cost of hedging particular exposures, or due to natural offsets among the different exposures.
+Added: See Note 6, Financial Derivatives and Hedging Activities, of the notes to our condensed consolidated financial statements for further information.
Credit and Counterparty Risk
We use a centralized approach to manage substantially all of our cash and to finance our operations.
−Removed: Our cash and cash equivalents may be exposed to a concentration of credit risk and we may also be exposed to credit risk and interest rate risk to the extent that we enter into credit facilities.
+Added: Our cash and cash equivalents and marketable securities may be exposed to a concentration of credit risk, and we may also be exposed to credit risk and interest rate risk to the extent that we enter into credit facilities.
We perform ongoing credit evaluations of our customers, and we maintain what we believe to be strong credit controls in evaluating and granting customer credit, including performing ongoing evaluations of our customers’ financial condition and creditworthiness and often using letters of credit and requiring certain Industrial customers to provide a down payment.
1 unchanged sentence
Borrowings under our ABL Facility bear interest at floating interest rates.
−Removed: At April 1, 2022, we had no borrowings subject to floating interest rates.
−Removed: Borrowings, of the notes to our condensed consolidated financial statements for further information.
+Added: At July 1, 2022, we had no borrowings subject to floating interest rates.
+Added: See Note 10, Borrowings, of the notes to our condensed consolidated financial statements for further information.
+Added: Our exposure to interest rate risk also is related to our interest-bearing assets, primarily our cash and cash equivalents and marketable securities.
+Added: Fixed rate securities may have their market value adversely affected due to a rise in interest rates, while floating rate securities may produce less income than expected if interest rates fall.
+Added: Due in part to these factors, our future investment income may fluctuate due to changes in interest rates or we may suffer losses in principal if we are forced to sell securities that decline in market value due to changes in interest rates.
Commodity Price Risk
2 unchanged sentences
We try to protect against such volatility through various business strategies.
−Removed: During the three and six months ended April 1, 2022, we did not have any commodity derivative instruments in place to manage our exposure to price changes.
+Added: During the three and nine months ended July 1, 2022, we did not have any commodity derivative instruments in place to manage our exposure to price changes.
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.