1 unchanged sentence
Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates.
−Removed: 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 March 31, 2021.
+Added: Our market risk exposure is primarily the result of foreign exchange rates.
+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 June 30, 2021.
On January 20, 2021, we issued the 2026 Notes.
1 unchanged sentence
However, the fair value of the 2026 Notes fluctuate when the market price of our common stock fluctuates.
−Removed: Interest Rate Risk
−Removed: We were primarily exposed to changes in short-term interest rates with respect to our cost of borrowing under our 2017 Facility with SVB.
−Removed: 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: We terminated the 2017 Facility effective January 20, 2021.
Foreign Currency Exchange Risk
4 unchanged sentences
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.