5 unchanged sentences
Changes in interest rates could impact our anticipated interest income earned on our cash and cash equivalents balance.
−Removed: As of March 31, 2025, we are not exposed to interest rate risk on our unsecured revolving line of credit.
+Added: As of June 30, 2025, we are not exposed to interest rate risk on our unsecured revolving line of credit.
An immediate 10% change in interest rates would not have a material adverse impact on our future operating results and cash flows.
−Removed: As of March 31, 2025, we had no short term or long-term marketable securities.
+Added: As of June 30, 2025, we had no short term or long-term marketable securities.
We have not historically used derivative financial instruments to manage our exposure to changes in interest rates.
Foreign Currency Exchange Rate Risk
−Removed: As a result of our international business activities, our financial results have been affected by changes in foreign currency exchange rates as well as economic conditions in foreign markets, and there is no assurance that exchange rate fluctuations will not adversely impact our results of operations or financial condition in the future.
−Removed: We generally sell our products in the local currency of the respective countries.
−Removed: This provides some natural hedging because most of the subsidiaries’ operating expenses are also generally denominated in their local currencies.
−Removed: We enter into foreign currency forward contracts for currencies where we have exposures, primarily the Euro, British Pound, Chinese Yuan, Polish Zloty and Canadian Dollar, to minimize the short-term impact of foreign currency exchange rate fluctuations on certain assets and liabilities.
−Removed: These forward contracts are not designated as hedging instruments and are generally one month in original maturity and are marked to market through earnings every period.
−Removed: The gains and losses on these forward contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities being economically hedged.
+Added: As a result of our international operations, our financial performance has been affected by fluctuations in foreign currency exchange rates and economic conditions in global markets.
+Added: There is no assurance that exchange rate fluctuations will not adversely impact our results of operations or financial position in the future;
+Added: however, generally we conduct sales in the local currencies of the countries in which we operate, which provides a degree of natural hedging as most subsidiaries’ also incur their operating expenses in those same currencies.
+Added: To further reduce the short-term impact of foreign exchange rate fluctuations on certain assets and liabilities, we enter into foreign currency forward contracts in markets where we have meaningful exposure, primarily involving the Euro, British Pound, Chinese Yuan, Polish Zloty and Canadian Dollar.
+Added: These contracts, which are not designated as hedging instruments, typically have original maturities of one month and are marked to market through earnings each reporting period.
+Added: The gains and losses from these forward contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities.
We do not enter into foreign currency forward contracts for trading or speculative purposes.
−Removed: As our international operations grow, we will continue to reassess our approach to managing the risks relating to fluctuations in currency rates.
−Removed: Although we will continue to monitor our exposure to currency fluctuations, and, where appropriate, use forward contracts to minimize the effect of these fluctuations, the impact of an aggregate change of 10% in foreign currency exchange rates relative to the U.S.
−Removed: dollar on our results of operations and financial position could be material.
+Added: As our international footprint expands, we continuously reassess our strategy for managing foreign exchange risk.
+Added: Although we continue to monitor our exposure to currency fluctuations, and, where appropriate, mitigate our exposure through the use of forward contracts, a hypothetical 10% aggregate change in foreign currency exchange rates relative to the U.S.
+Added: dollar could have a material impact on our results of operations and financial position.
Inflation Risk
12 unchanged sentences
Valuations of our equity investments are complex due to the lack of readily available market data and observable transactions.
−Removed: The carrying value of our investments in privately held companies was $188.2 million at March 31, 2025 and December 31, 2024.
+Added: The carrying value of our investments in privately held companies was $198.2 million at June 30, 2025 and $188.2 million at December 31, 2024.
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.