1 unchanged sentence
In the normal course of business, we are exposed to interest rate, foreign currency exchange and inflation risks that could impact our financial position and results of operations.
−Removed: In addition, we are subject to the broad market risk that is created by the global market disruptions and uncertainties resulting from the COVID-19 pandemic and the military conflict between Russia and Ukraine.
−Removed: Further discussion of the impact on our business due to the COVID-19 pandemic and the military conflict between Russia and Ukraine may be found in Item 1A of this is Quarterly Report on Form 10-Q under the heading “Risk Factors.”
+Added: In addition, we are subject to the broad market risk that is created by the global market disruptions and uncertainties resulting from macroeconomic challenges, the military conflict between Russia and Ukraine and the COVID-19 pandemic.
+Added: Further discussion on these risks may be found in Item 1A of this is Quarterly Report on Form 10-Q under the heading “Risk Factors.”
Interest Rate Risk
2 unchanged sentences
Fixed-rate securities may have their fair market value adversely impacted due to a rise in interest rates, and, as a result, our future investment income may fall short of expectations due to changes in interest rates or we may suffer losses in principal if forced to sell securities which have declined in market value due to changes in interest rates.
−Removed: As of March 31, 2022, we had approximately $194.4 million invested in available-for-sale marketable securities.
+Added: As of June 30, 2022, we had approximately $99.7 million invested in available-for-sale marketable securities.
An immediate 10% change in interest rates would not have a material adverse impact on our future operating results and cash flows.
We do not enter into investments for trading or speculative purposes and have not used any derivative financial instruments to manage our interest rate risk exposure.
−Removed: Based on interest bearing liabilities we have as of March 31, 2022, we are not subject to risks from immediate interest rate increases.
+Added: As of June 30, 2022, we are not subject to risks from immediate interest rate increases on our unsecured revolving line of credit facility.
Currency Rate Risk
13 unchanged sentences
Military Conflict in Ukraine
−Removed: The U.S., the European Union and the United Kingdom have imposed sanctions on various sectors of the Russian economy and on transactions with certain Russian nationals and entities.
+Added: and other nations have imposed sanctions on various sectors of the Russian economy and on transactions with certain Russian nationals and entities.
Russia has also announced economic sanctions against the U.S.
and other nations that include a ban on imports of certain products.
−Removed: As of March 31, 2022, we do not expect these events to have any material impact on our operations.
+Added: As of June 30, 2022, we do not expect these events to have any material impact on our operations.
Our Russia net revenues as a percentage of our consolidated net revenues and our assets domiciled in Russia, including cash and cash equivalents, as a percentage of our total assets are immaterial.
Inflation Risk
−Removed: While inflation may impact our costs and revenues, we believe the effects of inflation, if any, on our results of operations and financial condition have not been significant.
−Removed: Nonetheless, if our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
+Added: The economy has been impacted by certain macroeconomic challenges which have contributed to a rising inflationary trend that have impacted both our revenues and costs globally, and which we expect will continue into the foreseeable future.
+Added: If our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
There can be no assurance that our results of operations and financial condition will not be materially impacted by inflation in the future.
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.