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Definition of Increment in the new Scrum Guide

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I'm a little confused about the definition of increment in the new Scrum Guide. I've always thought of each increment as the latest integrated and done code, which includes everything that is done by that time, and the code that would be released to the end users if we decide so. However, when I read "The sum of the Increments is presented at the Sprint Review" in the new guide, I start wondering maybe it refers to subsets of the whole product (or its different branches) as increments, because otherwise, it could have said, "the latest increment is presented at the Sprint Review".


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