5 unchanged sentences
Because of the short-term maturities of our cash equivalents, we do not believe that a decrease in interest rates would have any material negative impact on the fair value of our cash equivalents.
−Removed: As of September 30, 2020, we had cash, cash equivalents and short-term investments of $185.5 million, which consist of bank deposits and money market funds, as well as high quality fixed income instruments including corporate bonds, commercial paper, and asset-backed securities collateralized by non-mortgage consumer receivables.
+Added: As of March 31, 2021, we had cash, cash equivalents and marketable securities of $178.2 million, which consist of bank deposits and money market funds, as well as high quality fixed income instruments including corporate bonds, commercial paper, and asset-backed securities collateralized by non-mortgage consumer receivables.
The credit rating of our short-term investments must be rated A-1/P-1, or better by Standard and Poor’s and Moody’s Investors Service.
2 unchanged sentences
Such interest-earning instruments carry a degree of interest rate risk.
−Removed: However, because our investments are high quality and short-term in duration, we believe that our exposure to interest rate risk is not significant and that a 10% movement in market interest
−Removed: rates would not have a significant impact on the total value of our portfolio, as noted above.
+Added: However, because our investments are high quality and short-term in duration, we believe that our exposure to interest rate risk is not significant and that a 10% movement in market interest rates would not have a significant impact on the total value of our portfolio, as noted above.
We do not enter into investments for trading or speculative purposes.
1 unchanged sentence
Borrowings under the Loan Agreement bear interest at a rate equal to one-month London Interbank Offered Rate (“LIBOR”), plus 7.45% per annum.
−Removed: A hypothetical increase in one-month LIBOR of 100 basis points above the current one-month LIBOR rates would have increased our interest expense by approximately $0.2 million for the nine months ended September 30, 2020.
−Removed: As of September 30, 2020, we had an aggregate principal amount of $50.7 million outstanding pursuant to our Loan Agreement.
+Added: A hypothetical increase in one-month LIBOR of 100 basis points above the current one-month LIBOR rates would have increased our interest expense by approximately $0.1 million for the three months ended March 31, 2021.
+Added: As of March 31, 2021, we had an aggregate principal amount of $50.0 million outstanding pursuant to our Loan Agreement.
Foreign Currency Risk.
6 unchanged sentences
The counterparties to our forward foreign currency exchange contracts are creditworthy commercial banks, which minimizes the risk of counterparty nonperformance.
−Removed: As of September 30, 2020, we had no open forward foreign currency exchange contracts.
+Added: As of March 31, 2021, we had no open forward foreign currency exchange contracts.
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.