QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: We have operations in the United States and internationally, and we are exposed to market risks in the ordinary course of our business.
−Removed: These risks primarily include interest rate, foreign exchange, inflation and counterparty risks, as well as risks relating to changes in the general economic conditions in the countries where we conduct business.
+Added: We have operations in the United States, and we are exposed to market risks in the ordinary course of our business.
+Added: These risks primarily include interest rate, foreign exchange, inflation and counterparty risks, as well as risks relating to changes in the general economic conditions.
To reduce certain of these risks, we monitor the financial condition of our large clients and limit credit exposure by principally collecting in advance and setting credit limits as we deem appropriate.
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treasury securities and money market funds backed by United States Treasury Bills within the guidelines established under our investment policy.
−Removed: We also make strategic investments in privately held companies in the development stage.
To date, we have not used derivative instruments to mitigate the impact of our market risk exposures.
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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.