5 unchanged sentences
Our primary exposure to market risk relates to interest rate changes.
−Removed: We had cash and cash equivalents of $72.2 million and other investments of $40.0 million as of December 31, 2020, which were held for working capital purposes.
−Removed: Our cash and cash equivalents are comprised primarily of interest bearing checking accounts, money market accounts and time deposits.
−Removed: Other investments consist of time deposits with original stated maturities of greater than 90 days.
+Added: We had cash and cash equivalents of $331.5 million as of December 31, 2021, which were held for working capital purposes.
+Added: Our cash and cash equivalents are comprised primarily of interest bearing checking and direct deposit accounts, and money market accounts.
Such interest-earning instruments carry a degree of interest rate risk.
3 unchanged sentences
Due to the short-term nature of our investments, we have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in interest rates.
−Removed: Our debt is comprised in part of the Credit Facility, which had no amount outstanding as of December 31, 2020.
−Removed: Loans under the credit agreement governing the Credit Facility will bear interest at the highest of (i) the bank’s prime rate, (ii) the federal funds effective rate plus 0.5 percent, and (iii) the London Interbank Offered Rate plus 1.00 percent.
−Removed: A hypothetical 10% change in interest rates during any of the periods presented would not have had a material impact on our consolidated financial statements.
−Removed: In February 2020, we issued $400.0 million aggregate principal amount of the Convertible Notes.
+Added: In February 2020 and March 2021, we issued $400.0 million and $250.0 million aggregate principal amount of the 2026 Convertible Notes and the 2028 Convertible Notes, respectively.
As the Convertible Notes have a fixed annual interest rate, we have no financial or economic interest exposure associated with changes in interest rates.
10 unchanged sentences
If there is a change in foreign currency exchange rates, the conversion of our foreign subsidiaries’ financial statements into U.S.
−Removed: dollars would result in a realized gain or loss, which is recorded in other income (expense), net in our consolidated statements of operations.
+Added: dollars would result in a realized gain or loss, which is recorded in other expense, net in our consolidated statements of operations.
We do not currently engage in any hedging activity to reduce our potential exposure to currency fluctuations, although we may choose to do so in the future.
9 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.