14 unchanged sentences
At quarter end and year end any foreign currency hedges not settled are netted on the condensed consolidated balance sheet and consolidated balance sheet, respectively, and classified as Level 3 assets and liabilities.
−Removed: As of March 31, 2026 and December 31, 2025, the net change in fair value from the placement of the hedge to settlement at each month end during the quarter had a de minimis impact to the condensed consolidated results.
+Added: As of June 30, 2026 and December 31, 2025, the net change in fair value from the placement of the hedge to settlement at each month end during the quarter had a de minimis impact to the condensed consolidated results.
The functional currency for our foreign operations is the renminbi, the local currency of China, and in the future we may establish short term hedges covering renminbi.
11 unchanged sentences
However, even with our hedging program, we still experience losses on foreign exchange from time to time.
−Removed: Interest Rate Risk
−Removed: Cash and restricted cash earning interest and certain variable rate debt instruments are subject to interest rate fluctuations.
−Removed: The following table sets forth the probable impact of a 10% change in interest rates (in thousands):
−Removed: Balance as of
−Removed: Interest Rate
−Removed: Interest Rate
−Removed: Cash, restricted cash and cash equivalents
−Removed: Investments in marketable debt securities
−Removed: The primary objective of our investment activities is to preserve principal while maximizing income without significantly increasing risk.
−Removed: Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash, short-term investments, and accounts receivable.
−Removed: We invest primarily in money market accounts, certificates of deposits, corporate bonds and notes, and government securities.
−Removed: We are exposed to credit risks in the event of default by the issuers to the extent of the amount recorded on the condensed consolidated balance sheets.
−Removed: These securities are generally classified as available-for-sale and consequently are recorded on the balance sheet at fair value with unrealized gains or losses reported as a separate component of accumulated other comprehensive income (loss), net of estimated tax, further reduced by a valuation allowance for expected credit losses, if any.
−Removed: Our cash and short-term investments and long-term investments are in high-quality instruments placed with major banks and financial institutions and commercial paper.
−Removed: We have no investments in auction rate securities.
We perform ongoing credit evaluations of our customers’ financial condition, and limit the amount of credit extended when deemed necessary, but generally do not require collateral.
The credit risk in our accounts receivable is mitigated by our credit evaluation process and the broad dispersion of sales transactions.
−Removed: Two customers each a ccounted for more than 10% of our accounts receivable balance as of March 31, 2026 and one customer accounted for more than 10% as of December 31, 2025.
+Added: No customer a ccounted for more than 10% of our accounts receivable balance as of June 30, 2026 and one customer accounted for more than 10% as of December 31, 2025.
Impairment of Equity Investment Risk
4 unchanged sentences
Reasons for other-than-temporary declines in value include whether the related company would have insufficient cash flow to operate for the next twelve months, significant changes in the operating performance and changes in market conditions.
−Removed: Our minority investments under the equity method as of March 31, 2026 and December 31, 2025 totale d $15.5 m illion and $15.0 million, respectively.
+Added: Our minority investments under the equity method as of June 30, 2026 and December 31, 2025 totale d $14.1 m illion and $15.0 million, respectively.
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.