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: 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.
+Added: During 2024, 2023 and 2022, we recorded a foreign exchange gain of $0.1 million, $0.2 million and $1.6 million, respectively.
We incur foreign currency transaction exchange gains and losses due to operations in general.
6 unchanged sentences
We measure the fair value of these hedges at each month end and quarter end using current exchange rates and in accordance with generally accepted accounting principles.
−Removed: At quarter end and year end any foreign currency hedges not settled are netted on the consolidated balance sheet and consolidated balance sheet, respectively, and classified as Level 3 assets and liabilities.
+Added: At quarter end and year end any foreign currency hedges not settled are netted on the consolidated balance sheet and consolidated balance sheet, respectively, and classified as Level 3 assets and
As of December 31, 2024 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 consolidated results.
10 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
−Removed: 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 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.
Interest Rate Risk
−Removed: Cash and cash equivalents earning interest and certain variable rate debt instruments are subject to interest rate fluctuations.
+Added: Cash, restricted cash and cash equivalents earning interest and certain variable rate debt instruments are subject to interest rate fluctuations.
The following table sets forth the probable impact of a 10% change in interest rates (in thousands):
3 unchanged sentences
Interest Rate
−Removed: Cash, cash equivalents and restricted cash
+Added: Cash, restricted cash and cash equivalents
Investments in marketable debt securities
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 and cash equivalents, short-term investments, and accounts receivable.
+Added: Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash, restricted cash, cash equivalents, short-term investments, and accounts receivable.
We invest primarily in money market accounts, certificates of deposits, corporate bonds and notes, and government securities.
We are exposed to credit risks in the event of default by the issuers to the extent of the amount recorded on the 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, cash equivalents and short-term investments and long-term investments are in high-quality instruments placed with major banks and financial institutions and commercial paper.
+Added: Our cash, restricted cash, cash equivalents and short-term investments and long-term investments are in high-quality instruments placed with major banks and financial institutions.
We have no investments in auction rate securities.
1 unchanged sentence
The credit risk in our accounts receivable is mitigated by our credit evaluation process and the geographical dispersion of sales transactions.
−Removed: 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.
+Added: One customer accounted for more than 10% of our accounts receivable as of December 31, 2024 and no customer accounted for more than 10% of our accounts receivable as of December 31, 2023.
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.
3 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 investment under the fair value method as of December 31, 2023 and 2022 totaled $0.6 million and $0 million, respectively (see Note 6).
+Added: Our minority investment under the fair value method as of December 31, 2024 and 2023 totaled $0.6 million and $0.6 million, respectively (see Note 6 to the consolidated financial statements).
Our minority investments under the equity method as of December 31, 2024 and 2023 totaled $14.1 million and $12.5 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
−Removed: 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 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.