2 unchanged sentences
Our market risk exposure is primarily the result of fluctuations in interest rates, as well as to a lesser extent, foreign exchange rates and inflation.
−Removed: The uncertainty that exists with respect to the economic impact of the COVID-19 pandemic continues to create significant volatility in the financial markets subsequent to the quarter ended September 30, 2020.
+Added: The uncertainty that exists with respect to the economic impact of the COVID-19 pandemic continues to create significant volatility in the financial markets subsequent to the quarter ended March 31, 2021.
+Added: On January 20, 2021, we issued the 2026 Notes.
+Added: We carry these instruments at face value less unamortized discount and unamortized issuance costs on our condensed consolidated balance sheets.
+Added: However, the fair value of the 2026 Notes fluctuate when the market price of our common stock fluctuates.
Interest Rate Risk
−Removed: We are primarily exposed to changes in short-term interest rates with respect to our cost of borrowing under our 2017 Facility with SVB.
+Added: We were primarily exposed to changes in short-term interest rates with respect to our cost of borrowing under our 2017 Facility with SVB.
We monitor our cost of borrowing under our various facilities, taking into account our funding requirements, and our expectation for short-term rates in the future.
−Removed: As of September 30, 2020 and December 31, 2019, an increase or decrease in the interest rate on our 2017 Facility with SVB by 100 basis points would increase or decrease our annual interest expense by approximately $1.1 million and $0.6 million, respectively.
+Added: We terminated the 2017 Facility effective January 20, 2021.
Foreign Currency Exchange Risk
3 unchanged sentences
dollars, we may not be able to effectively manage this risk, and our business, financial condition and results of operations could be adversely affected by translation and by transactional foreign currency conversions.
−Removed: Inflation Risk
−Removed: We do not believe that inflation has had a material effect on our business, financial condition or results of operations.
−Removed: If our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
−Removed: Our inability or failure to do so could harm our business, financial condition and results of operations.
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.