4 unchanged sentences
If we do not effectively manage the risks associated with this currency risk, our revenue, cash flows and financial condition could be adversely affected.
−Removed: Although during 2022, we recorded a foreign exchange gain of $1.6 million, during 2021 and 2020 we recorded net foreign exchange loss of $434,000 and $411,000, respectively, included as part of other income, net in our consolidated statements of operations.
+Added: During 2023 and 2022, we recorded a foreign exchange gain of $0.2 million and $1.6 million, respectively, and during 2021 we recorded a net foreign exchange loss of $0.4 million, included as part of other income, net in our consolidated statements of operations.
We incur foreign currency transaction exchange gains and losses due to operations in general.
19 unchanged sentences
The program is not designated for trading or speculative purposes.
−Removed: The company may choose not to hedge certain foreign exchange exposures for a variety of reasons, including but not limited to accounting considerations and the prohibitive economic cost of hedging particular exposures.
+Added: The Company may choose not to hedge certain foreign exchange exposures for a variety of reasons, including but not limited to accounting
+Added: considerations and the prohibitive economic cost of hedging particular exposures.
However, even with our hedging program, we still experience losses on foreign exchange from time to time.
17 unchanged sentences
The credit risk in our accounts receivable is mitigated by our credit evaluation process and the geographical dispersion of sales transactions.
−Removed: Two customers accounted for more than 10% of our accounts receivable as of December 31, 2022 and no customer accounted for more than 10% of our accounts receivable as of December 31, 2021.
+Added: No customer accounted for more than 10% of our accounts receivable as of December 31, 2023 and two customers accounted for more than 10% of our accounts receivable as of December 31, 2022.
As part of our supply chain strategy, we maintain minority investments in privately held raw material companies located in China either invested directly by us and our subsidiaries or through our consolidated joint venture companies.
These minority investments are reviewed for other than temporary declines in value on a quarterly basis.
−Removed: These investments are classified as other assets in the consolidated balance sheets and accounted for under either the equity or cost method, depending on whether we have the ability to exercise significant influence over their operations or financial decisions.
+Added: These investments are classified as other assets in the consolidated balance sheets and accounted for under either the equity or fair value method, depending on whether we have the ability to exercise significant influence over their operations or financial decisions.
We monitor our investments for impairment and record reductions in carrying value when events or changes in circumstances indicate that the carrying value may not be recoverable.
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: As of December 31, 2022 and 2021, we did not maintain any direct investments under the cost method.
+Added: Our minority investment under the fair value method as of December 31, 2023 and 2022 totaled $0.6 million and $0 million, respectively (see Note 6).
Our minority investments under the equity method as of December 31, 2023 and 2022 totaled $12.5 million and $14.6 million, respectively.
1 unchanged sentence
While the historical impact of inflation is difficult to accurately measure due to the imprecise nature of the estimates required, we do not believe the effects of inflation on our consolidated results of operations and financial condition have been material.
−Removed: However, there can be no assurance that our consolidated results of operations and financial condition will not be materially impacted by inflation in the future, including by heightened levels of inflation currently experienced globally.
+Added: However, there can be no assurance that our consolidated results of operations and
+Added: financial condition will not be materially impacted by inflation in the future, including by heightened levels of inflation currently experienced globally.
Nonetheless, if our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs.
4 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.