10 unchanged sentences
We do not anticipate any material effect on our cash balances or investment portfolio due to fluctuations in interest rates.
−Removed: We are exposed to market risk due to the possibility of changing interest rates associated with certain debt instruments.
−Removed: As of December 31, 2022 , our debt bears a variable rate of interest that is based on SOFR or other interbank offered rates.
−Removed: The debt subject to variable rates is subject to fluctuation in the SOFR or other interbank offered rates.
+Added: We could be exposed to interest rate risk, should we incur debt that had a floating interest rate.
+Added: As of December 31, 2023 , all debts bore a fixed interest rate and therefore did not generate interest rate risk.
As of December 31, 2023 , we had not hedged our interest rate risk.
−Removed: With respect to our interest expense for the year ended December 31, 2022 , an increase of 1.0% in each of our interest rates would have resulted in an increase of $0.6 million in our interest expense for such period.
+Added: During a portion of the year ending ending December 31, 2023, we did have certain loans that bore floating interest rates.
+Added: With respect to our interest expense for the year ended December 31, 2023 an increase of 1.0% in each of our interest rates would have resulted in an increase of $0.2 million in our interest expense for such period.
Foreign Exchange Rates
4 unchanged sentences
Assets and liabilities are translated at prevailing exchange rates at the balance sheet date, equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the then current period using a monthly average.
−Removed: Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of accumulated other comprehensive income in our statement of stockholders’
−Removed: equity and comprehensive income.
+Added: Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of accumulated other comprehensive income in our statement of stockholders’ equity and comprehensive income.
All transactions in currencies other than their functional currencies during the year are subject to foreign exchange risk when the exchange rate fluctuates on the respective relevant dates of such transactions.
3 unchanged sentences
Therefore, exchange gain (loss) arising from re-measurement of intercompany loans were recorded in the Cumulative Translation Adjustment accounts.
−Removed: During the year ended December 31, 2022 , we recognized approximately $1.5 million of exchange loss arising from foreign currency transactions and re-measurement of monetary assets and liabilities dominated in non-functional currency on the balance sheet date.
+Added: During the year ended December 31, 2023 , we recognized approximately $0.7 million of exchange gain arising from foreign currency transactions and re-measurement of monetary assets and liabilities dominated in non-functional currency on the balance sheet date.
During the year ended December 31, 2023 , 1.8% of our revenue was denominated in RMB and none of our revenue was denominated in NT dollars.
2 unchanged sentences
If exchange rates of RMB and NT dollars for U.S.
−Removed: dollars were 1% higher during the year ended December 31, 2022 , our operating expenses would have had been higher by $0.4 million.
+Added: dollars were 1% higher during the year ended December 31, 2023 , our operating expenses would have had been higher by $0.4 million.
As of December 31, 2023 , we held the U.S.
−Removed: dollar denominated liabilities net of assets of approximately $24.6 million in our China subsidiary and $26.7 million in our Taiwan branch.
+Added: dollar denominated liabilities net of assets of approximately $11.4 million in our China subsidiary and $16.2 million in our Taiwan branch.
With respect to these U.S.
−Removed: dollar denominated net assets as of December 31, 2022 , if exchange rates of RMB and NT dollars for U.S.
−Removed: dollars were 1% higher during the year ended December 31, 2022 , our other operating expenses would have been reduced by $0.4 million.
+Added: dollar denominated net assets as of December 31, 2023 , if exchange rates of RMB and NT dollars for U.S.
+Added: dollars were 1% higher during the year ended December 31, 2023 , our other operating expenses would have been reduced by $48K.
Any significant revaluation of the RMB and NT dollars may materially and adversely affect the cash flows, revenues, and net income (loss) as reported in U.S.
1 unchanged sentence
We continue to review this issue and may consider hedging certain foreign exchange risks through the use of currency forwards or options in future years.
+Added: Financial Statements and Supplementary Data
+Added: The information required by this item is incorporated by reference to the consolidated financial statements and accompanying notes beginning on page F-1 of this Form 10-K.
+Added: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
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.