MA — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-30

• Adjusted effective income tax rate19.2 %19.1 %0.1 ppt0.1 ppt

• The as-reported operating expenses increase was primarily due to higher general and administrative expenses (which included a restructuring charge in the first quarter of 2026), partially offset by lower litigation provisions. The as-adjusted operating expense increase was primarily due to higher ge…

• The as-reported income tax rate was higher versus the comparable period in 2025, primarily due to lower net discrete tax benefits in 2026, while the as-adjusted income tax rate was comparable year over year.

• Other financial highlights for the three months ended March 31, 2026 were as follows:

• •We generated net cash flows from operations of $3.0 billion.

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• Global Economic, Political, Financial and Societal Events and Conditions

• We continue to monitor government actions and changes in policies across the globe, including those related to tariffs. The extent to which these developments affect our business and results of operations, if at all, are uncertain and cannot be predicted at this time.

• Three Months Ended September 30,Increase/(Decrease)Nine Months Ended September 30,Increase/(Decrease)

• Three Months Ended September 30,Increase/(Decrease)Nine Months Ended September 30,Increase/(Decrease)

• 20252024As adjustedCurrency-neutral20252024As adjustedCurrency-neutral

Text added vs the prior filing · source: 10-Q · 2026-04-30

• Our available-for-sale debt investments include fixed and variable rate securities that are sensitive to interest rate fluctuations. Our policy is to invest in high quality securities, while providing adequate liquidity and maintaining diversification to avoid significant exposure. A hypothetical 10…

• We are also exposed to interest rate risk related to our fixed-rate debt. To manage this risk, we may enter into interest rate derivative contracts to hedge a portion of our fixed-rate debt that is exposed to changes in fair value attributable to changes in a benchmark interest rate. A hypothetical …

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• contracts to hedge a portion of our net investment in foreign subsidiaries. As of September 30, 2025, we did not have any foreign exchange derivative contracts designated as a net investment hedge. The effect of a hypothetical 10% adverse change in the value of the U.S. dollar could result in a fair…

• Our available-for-sale debt investments include fixed and variable rate securities that are sensitive to interest rate fluctuations. Our policy is to invest in high quality securities, while providing adequate liquidity and maintaining diversification to avoid significant exposure. A hypothetical 10…

• We are also exposed to interest rate risk related to our fixed-rate debt. To manage this risk, we may enter into interest rate derivative contracts to hedge a portion of our fixed-rate debt that is exposed to changes in fair value attributable to changes in a benchmark interest rate. The effect of a…

Text added vs the prior filing · source: 10-Q · 2026-04-30

• On April 26, 2026, our Board of Directors approved and adopted amendments to our amended and restated by-laws (the "Amended and Restated By-Laws"), which became effective immediately upon adoption. The amendments reflect certain technical administrative, clarifying and conforming changes, including …

• The foregoing description of the Amended and Restated By-Laws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated By-Laws, which are attached as Exhibit 3.1 to this Report and incorporated herein by reference.

• For the three months ended March 31, 2026, certain of our officers or directors adopted or terminated trading arrangements for the sale of shares of our common stock as follows:

• Up to (i) 3,977 shares of Class A common stock underlying employee stock options and (ii) 3,000 shares of Class A common stock underlying vested but not yet settled performance stock units 3

• The earlier of (i) the date when all securities under the plan are exercised and sold and (ii) December 31, 2026

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• For the three months ended September 30, 2025, none of our officers or directors adopted or terminated trading arrangements for the sale of shares of our common stock.

• Pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012, we hereby incorporate by reference herein the disclosure contained in Exhibit 99.1 of this Report.