1 unchanged sentence
Interest Rate Risk
−Removed: Short-term Investments
−Removed: At December 31, 2019 , we had cash and cash equivalents of $15.8 million consisting of bank deposits and money market funds and $35.0 million of investment securities consisting of corporate bonds, United States government agency securities and treasury securities.
+Added: Investment Securities
+Added: At December 31, 2020, we had cash and cash equivalents of $140.3 million consisting of bank deposits, money market funds, and treasury securities, and $35.0 million of investment securities consisting of United States government agency securities and treasury securities.
The primary objective of investing in securities is to support our liquidity and capital needs.
3 unchanged sentences
Since our investment securities are held as available for sale, all changes in fair value impact our other comprehensive income unless an investment security is considered impaired in which case changes in fair value are reported in other expense.
−Removed: At December 31, 2019 , a hypothetical 100 basis point decrease in interest rates would have resulted in an approximate increase in fair value of our investment securities of $0.3 million and a hypothetical 100 basis point increase in interest rates would have resulted in an approximate decrease in fair value of our investment securities of $0.3 million .
−Removed: This estimate is based on a sensitivity model which measured an instant change in interest rates by 1% or 100 basis points at December 31, 2019 .
+Added: At December 31, 2020, a hypothetical 100 basis point change in interest rates would not have resulted in a material change in the fair value of our investment securities.
+Added: This estimate is based on a sensitivity model which measured an instant change in interest rates by 100 basis points at December 31, 2020.
Credit Facility
−Removed: The Company is exposed to interest rate risk from its Credit Facility.
−Removed: Outstanding borrowings under the Credit Facility accrue interest as described in Note 9, Long-term Debt of our Consolidated Financial Statements included elsewhere in this Annual Report.
−Removed: The Company's Credit Facility is subject to interest rate fluctuations, which could be material to the Company's cash flows and results of operations.
−Removed: In order to determine the impact of unfavorable changes in interest rates on the Company's cash flows and result of operations, the Company performed a sensitivity analysis.
−Removed: Based on this sensitivity analysis we determined that the incremental expense incurred by a 100 basis point increase in interest rates would have been $0.5 million over the 12-month period ended December 31, 2019 .
+Added: Prior to its termination in connection with the MyCase Transaction, we were exposed to interest rate risk as a result of our Credit Facility.
+Added: Outstanding borrowings under the Credit Facility accrued interest as described in Note 10, Long-Term Debt, of our Consolidated Financial Statements.
+Added: Our borrowings under the Credit Facility were subject to interest rate fluctuations, which could have had a material impact on our cash flows and results of operations depending on the magnitude of the fluctuations and the outstanding borrowings.
+Added: In order to determine the potential impact of changes in interest rates on our cash flows and result of operations, we performed a sensitivity analysis.
+Added: A hypothetical 100 basis point increase in interest rates during the year ended December 31, 2020 would not have had a material impact on our cash flows or results of operations.
+Added: In connection with the MyCase Transaction, and as required by the terms of the Credit Agreement, the Credit Agreement was terminated and all obligations outstanding under the Term Loan and Revolving Facility thereunder, including all guarantees and security interests granted with respect to such obligations, were satisfied in full with proceeds from the MyCase Transaction and extinguished.
Inflation Risk
We have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in inflation rates.
+Added: Foreign Currency Exchange Rate Risk
+Added: We have not been exposed to, nor do we anticipate being exposed to, material risks relating to foreign currency exchange rate fluctuations.
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.