3 unchanged sentences
Adverse changes to rates may occur due to changes in the liquidity of a market or to changes in market perceptions of creditworthiness and risk tolerance.
−Removed: The Company does not hold any instruments for trading purposes and investment criteria are governed by its Investment Policy.
−Removed: As of September 30, 2023 and 2022, the Company had cash, cash equivalents, and restricted cash of $110.9 million and $108.0 million, respectively, and investments of $292.7 million and $374.3 million, respectively.
−Removed: The Company has invested its cash reserves in corporate bonds typically with maturities of less than 3 years and historically classified these investments as held-to-maturity.
+Added: The Company’s investment criteria are governed by its Investment Policy.
+Added: The Company primarily invests its excess cash in securities of reputable financial institutions, corporations, and US government agencies with strong credit ratings.
On September 30, 2023, the Company changed the classification of its investment securities from held-to-maturity to available-for-sale.
5 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.