12 unchanged sentences
Changes in the fair value of these derivatives are largely offset by re-measurement of the underlying assets and liabilities.
−Removed: As of December 31, 2021, we had no foreign currency forward contracts.
−Removed: Net foreign exchange income (loss) recorded in our unaudited condensed consolidated statements of operations during the three and six months ended December 31, 2021 and January 1, 2021 was as follows:
−Removed: Three Months Ended Six Months Ended
−Removed: (In thousands) December 31,
−Removed: 2021 January 1,
−Removed: 2021 December 31,
−Removed: 2021 January 1,
+Added: As of April 1, 2022, we had multiple forward contracts in one foreign currency outstanding as follows:
+Added: Notional Contract Amount Notional Contract Amount
+Added: Currency (Local Currency) (USD)
+Added: (In thousands)
+Added: Euro 4,500 $ 5,032
+Added: Net foreign exchange income (loss) recorded in our unaudited condensed consolidated statements of operations during the three and nine months ended April 1, 2022 and April 2, 2021 was as follows:
+Added: Three Months Ended Nine Months Ended
+Added: (In thousands) April 1,
+Added: 2022 April 2,
+Added: 2021 April 1,
+Added: 2022 April 2,
Amount included in costs of revenues $ — $ (189) $ — $ 666
Amount included in other expense/(income), net $ 240 $ — $ 513 $ —
+Added: A 10% adverse change in currency exchange rates for our foreign currency derivatives held as of April 1, 2022 would have an impact of approximately $0.5 million on the fair value of such instruments.
Certain of our international business is transacted in non-U.S.
2 unchanged sentences
The impact of translating the assets and liabilities of foreign operations to U.S.
−Removed: dollars for the first six months of fiscal 2022 and 2021 was $(0.3) million and $0.6 million, respectively, and was included as a component of stockholders’ equity.
−Removed: As of December 31, 2021 and July 2, 2021, the cumulative translation adjustment decreased our equity by $14.6 million and $14.3 million, respectively.
+Added: dollars for the first nine months of fiscal 2022 and 2021 was $(1.1) million and $0.3 million, respectively, and was included as a component of stockholders’ equity.
+Added: As of April 1, 2022 and July 2, 2021, the cumulative translation adjustment decreased our equity by $15.4 million and $14.3 million, respectively.
Interest Rate Risk
1 unchanged sentence
Exposure on Cash Equivalents
−Removed: We had $42.3 million in total cash and cash equivalents as of December 31, 2021.
−Removed: Cash equivalents totaled $19.3 million as of December 31, 2021 and were comprised of money market funds and bank certificates of deposit.
+Added: We had $31.3 million in total cash and cash equivalents as of April 1, 2022.
+Added: Cash equivalents totaled $12.3 million as of April 1, 2022 and were comprised of money market funds and bank certificates of deposit.
Cash equivalents investments have been recorded at fair value on our balance sheet.
Fair value is measured using inputs that fall into a three-level hierarchy that prioritizes the inputs used to measure fair value based on observability of such inputs.
−Removed: For more information on the fair value measurements of cash equivalents, please refer to “Note 3 Fair Value Measurements of
−Removed: Assets and Liabilities” of the Notes to unaudited condensed consolidated financial statements in this Quarterly Report on Form 10-Q.
+Added: For more information on the fair value measurements of cash equivalents, please refer to “Note 3 Fair Value Measurements of Assets and Liabilities” of the Notes to unaudited condensed consolidated financial statements in this Quarterly Report on Form 10-Q.
Our cash equivalents earn interest at fixed rates;
therefore, changes in interest rates will not generate a gain or loss on these investments unless they are sold prior to maturity.
−Removed: The weighted-average days to maturity for cash equivalents held as of December 31, 2021 was 20 days, and these investments had an average yield of approximately 4.3% per annum.
+Added: The weighted-average days to maturity for cash equivalents held as of April 1, 2022 was 27 days, and these investments had an average yield of approximately 4.9% per annum.
A 10% change in interest rates on our cash equivalents is not expected to have a material impact on our financial position, results of operations, or cash flows.
1 unchanged sentence
Our borrowings under the SVB Credit Facility incurred interest at the prime rate plus a spread of 0.50% to 1.50% with such spread determined based on our adjusted quick ratio.
−Removed: During the first six months of fiscal 2022, our weighted-average interest rate was 3.75%, and the interest expense on these borrowings was immaterial.
+Added: During the first nine months of fiscal 2022, our weighted-average interest rate was 3.50%, and the interest expense on these borrowings was immaterial.
A 10% change in interest rates on the current borrowings or on future borrowings is not expected to have a material impact on our financial position, results of operations, or cash flows since interest on our borrowings is not material to our overall financial position.
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.