9 unchanged sentences
At December 31, 2021, our borrowings consisted of $295.8 million outstanding under the 2026 Term Loans.
−Removed: The 2023 Term Loans bear interest at a LIBOR rate of our choosing (one, three or six months), plus 2.25% with a 0% LIBOR floor.
−Removed: We are currently using the one-month LIBOR rate, which was 0.16% at December 31, 2020.
−Removed: A 10% increase in the one-month LIBOR rate would have increased the amount of interest we owe under this agreement during the year ended December 31, 2020 by approximately $0.4 million.
−Removed: At December 31, 2019, a 10% increase in the one-month LIBOR rate, which was the LIBOR rate in use at the time, would have increased the amount of interest we owed by approximately $0.5 million.
−Removed: For a discussion about risks relating to LIBOR, see “Item 1A—Risk Factors” in this Annual Report and specifically the section entitled “Risks Related to our Financial Condition and Tax Matters—Discontinuation, reform or replacement of LIBOR, or uncertainty related to the potential for any of the foregoing, may adversely affect us.”
+Added: The 2026 Term Loans bear interest at the one-, three- or six-month LIBOR rate of our choosing, plus 2.5% with a 0.5% LIBOR floor.
+Added: We are currently using the three-month LIBOR rate, which was 0.21% at December 31, 2021.
+Added: A 10% increase in the one-month LIBOR rate would not have increased the amount of interest we owed under this agreement as the LIBOR floor of 0.5% is higher than the LIBOR rate plus 10%.
+Added: At December 31, 2020, under the 2023 Term Loans which had no LIBOR floor, a 10% increase in the one-month LIBOR rate, which was the LIBOR rate in use at the time, would have increased the amount of interest we owed by approximately $0.4 million.
+Added: For a discussion about risks relating to LIBOR, see “Item 1A—Risk Factors” in this Annual Report and specifically the section entitled “Discontinuation, reform or replacement of LIBOR, or uncertainty related to the potential for any of the foregoing, may adversely affect us.”
Currency Exchange Rate Risk
7 unchanged sentences
currency, then our revenues will increase given a constant amount of sales in such non‑U.S.
−Removed: For the year ended December 31, 2020, an average 10% strengthening of the USD relative to the currencies in which these products are sold would have resulted in revenues being reduced by approximately $28.9 million, as compared to a reduction in revenues of approximately $26.5 million for the year ended December 31, 2019.
+Added: For the year ended December 31, 2021, an average 10% strengthening of the USD relative to the currencies in which these
+Added: products are sold would have resulted in revenues being reduced by approximately $ 33.1 million, as compared to a reduction in revenues of approximately $ 2 8.9 million for the year ended December 31, 20 20 .
We incur significant operating costs in Ireland and face exposure to changes in the exchange ratio of the USD and the euro arising from expenses and payables at our Irish operations that are settled in euro.
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For the year ended December 31, 2021, an average 10% weakening in the USD relative to the euro would have resulted in an increase to our expenses denominated in euro of approximately $8.3 million, as compared to an increase in our expenses of approximately $7.3 million in the year ended December 31, 2020.
−Removed: Financial Statemen ts and Supplementary Data
−Removed: Selected Quarterly Financial Data (unaudited)
−Removed: (In thousands, except per share data)
−Removed: First Quarter
−Removed: Second Quarter
−Removed: Third Quarter
−Removed: Fourth Quarter
−Removed: Year Ended December 31, 2020
−Removed: Product sales, net
−Removed: Manufacturing and royalty revenues
−Removed: Research and development revenue
−Removed: License revenue
−Removed: Total revenues
−Removed: Cost of goods manufactured and sold
−Removed: Research and development
−Removed: Selling, general and administrative
−Removed: Amortization of acquired intangible assets
−Removed: Total expenses
−Removed: OPERATING LOSS
−Removed: OTHER INCOME (EXPENSE), NET:
−Removed: (LOSS) INCOME BEFORE INCOME TAXES
−Removed: INCOME TAX PROVISION
−Removed: LOSS PER SHARE—BASIC AND DILUTED
−Removed: First Quarter
−Removed: Second Quarter
−Removed: Third Quarter
−Removed: Fourth Quarter
−Removed: Year Ended December 31, 2019
−Removed: Product sales, net
−Removed: Manufacturing and royalty revenues
−Removed: License revenue
−Removed: Research and development revenue
−Removed: Total revenues
−Removed: Cost of goods manufactured and sold
−Removed: Research and development ( 1)
−Removed: Selling, general and administrative
−Removed: Amortization of acquired intangible assets
−Removed: Restructuring expense
−Removed: Total expenses
−Removed: OPERATING LOSS
−Removed: OTHER (EXPENSE) INCOME, NET
−Removed: LOSS BEFORE INCOME TAXES
−Removed: INCOME TAX (BENEFIT) PROVISION
−Removed: LOSS PER SHARE—BASIC AND DILUTED
−Removed: Included in research and development expenses in the fourth quarter of 2019 is $86.6 million of expense related to the IPR&D acquired as part of the acquisition of Rodin, as it was determined that the IPR&D did not have an alternative future use.
−Removed: All financial statements required to be filed hereunder, other than the quarterly financial data required by Item 302 of Regulation S‑K summarized above, are filed as exhibits hereto, are listed under Item 15(a) (1) and (2) and are incorporated herein by reference.
+Added: Financial Statements and Supplementary Data
+Added: All financial statements required to be filed hereunder are filed as exhibits hereto, are listed under Item 15(a) (1) and (2) and are incorporated herein by reference.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
1 unchanged sentence
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.