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 foreign exchange rates.
−Removed: Because our 2017 Facility was terminated in January 2021, we believe our exposure to interest rate risk and inflation risks are immaterial to our business for the year ended December 31, 2021 as compared to the year ended December 31, 2020.
−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 year ended December 31, 2021.
+Added: Our market risk exposure is primarily the result of inflation and foreign exchange rates.
+Added: The uncertainty that exists with respect to the economic impact of the Macroeconomic Conditions continues to create significant volatility in the financial markets subsequent to the year ended December 31, 2022.
On January 20, 2021, we issued the 2026 Notes.
−Removed: We carry these instruments at face value less unamortized discount and unamortized issuance costs on our consolidated balance sheets.
+Added: During 2021 we carried these instruments at face value less unamortized discount and unamortized issuance costs on our consolidated balance sheets.
+Added: Subsequent to the adoption of ASU 2020-06 on January 1, 2022, we carry these instruments at face value less unamortized issuance costs.
However, the fair value of the 2026 Notes fluctuates when the market price of our common stock fluctuates.
+Added: Inflation Risk
+Added: We do not believe that inflation has had a material effect on our business, financial condition or results of operations.
+Added: While we have experienced inflationary pressures on our inventory component and freight costs, we have implemented price increases on some of our products in 2022 to cover some of these increases in costs.
+Added: If our costs become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
+Added: Our inability or failure to do so could harm our business, financial condition and results of operations.
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.