24 unchanged sentences
There are inherent limitations in the sensitivity analysis presented, primarily the assumption that foreign exchange rate movements across multiple jurisdictions would change instantaneously in an equal fashion.
−Removed: As a result, the analysis is
−Removed: unable to reflect the potential effects of more complex market or other changes that could arise which may positively or negatively affect our results of operations.
+Added: As a result, the analysis is unable to reflect the potential effects of more complex market or other changes that could arise which may positively or negatively affect our results of operations.
Our Consolidated Financial Statements are impacted by changes in exchange rates at the entity where the local currency is the functional currency.
−Removed: The effect of foreign exchange rate translation for these entities was a loss of $3.8 million and $10.7 million for the years ended December 31, 2023 and 2022, respectively, and was recognized as an adjustment to equity through other comprehensive income (loss).
+Added: To mitigate this impact, we started to hedge certain net investment positions in foreign subsidiaries by entering into foreign currency forward contracts that are designated as hedges of net investments beginning in April 2024.
+Added: The effect of foreign exchange rate translation for these entities, inclusive of our foreign currency forward contracts, was a loss of $8.8 million and $3.8 million for the years ended December 31, 2024 and 2023, respectively, and was recognized as an adjustment to equity through other comprehensive income (loss).
Interest Rate Risk
We have interest rate risk with respect to our available-for-sale debt investments.
−Removed: 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 investment portfolio consists of various security types and maturities, with our portfolio primarily having maturities of one year or less.
Our primary objective with our investment portfolio is to invest available cash while preserving capital and meeting liquidity needs.
6 unchanged sentences
A change in interest rates on the fixed portion of the debt portfolio impacts the fair value of the debt instrument but has no impact on interest expense or cash flows.
−Removed: A change in interest rates on the variable portion of the debt portfolio impacts the interest incurred and cash flows but does not generally impact the fair value of the instrument.
+Added: A change in interest rates on the variable portion of the debt portfolio impacts the interest incurred and cash flows but will not have a material impact on the fair value of the instrument.
The table below presents the interest rates, maturities and fair value of our fixed and variable rate debt as of December 31, 2024:
8 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.