9 unchanged sentences
We performed a sensitivity analysis of our foreign currency exposure as of December 31, 2020, to assess the potential impact of fluctuations in exchange rates for all foreign denominated assets and liabilities.
−Removed: Assuming that all foreign currencies appreciated 10% against the U.S.
+Added: Assuming that all foreign currencies depreciated 10% against the U.S.
dollar, taking into account our foreign currency forward contracts, our income before taxes as of December 31, 2020 would have been approximately $3 million lower, due to the remeasurement of monetary assets and liabilities.
1 unchanged sentence
For the year ended December 31, 2020, approximately 85% of our net sales were denominated in U.S.
−Removed: Our remaining net sales were principally denominated in Japanese Yen for local country sales.
+Added: Our remaining net sales were principally denominated in Japanese Yen.
For the year ended December 31, 2020, approximately 45% of our cost of sales and operating expenses were denominated in U.S.
13 unchanged sentences
Interest Rate Risk
−Removed: We have interest rate risk with respect to our debt.
−Removed: Our fixed and variable rate debt includes foreign borrowings and revolving credit facilities.
−Removed: Our fixed rate debt also consists of senior notes.
+Added: We have interest rate risk with respect to our available-for-sale debt investments.
+Added: Our investment portfolio consists of various security types and maturities, with a significant portion of our portfolio having maturity of one year or less.
+Added: Our primary objective with our investment portfolio is to invest available cash while preserving capital and meeting liquidity needs.
+Added: These securities are subject to interest rate risk and will decrease in value if market interest rates increase.
+Added: Due to the relatively short-term nature of our investment portfolio, we believe that an immediate increase in interest rates will not have a material impact on the fair value of our available-for-sale debt investments.
+Added: For information regarding our available-for-sale debt investments, see Note 6 to our Consolidated Financial Statements in Part II, Item 8 of this Annual Report on Form 10-K.
+Added: In addition, we have interest rate risk with respect to our debt.
+Added: Our fixed and variable rate debt includes foreign borrowings, revolving credit facilities and senior notes.
Changes in interest rates have different impacts on the fixed and variable rate portions of our debt portfolio.
2 unchanged sentences
The table below presents the interest rates, maturities and fair value of our fixed and variable rate debt as of December 31, 2020:
+Added: 2021 2022 2023 2024 2025 Thereafter Total Fair Value
($ in thousands)
6 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.