12 unchanged sentences
If overall foreign currency exchanges rates to the U.S.
−Removed: dollar uniformly weakened or strengthened by 10% related to the Company’s net monetary asset or liability balances in foreign currencies at February 29, 2020 (after hedging activities), the impact to the Company would be immaterial.
+Added: dollar uniformly weakened or strengthened by 10% related to the Company’s net monetary asset or liability balances in foreign currencies at February 28, 2021 and February 29, 2020 (after hedging activities), the impact to the Company would be immaterial.
The Company regularly reviews its currency forward and option positions, both on a stand-alone basis and in conjunction with its underlying foreign currency exposures.
5 unchanged sentences
The fair value of investments, as well as the investment income derived from the investment portfolio, will fluctuate with changes in prevailing interest rates.
−Removed: The Company has also issued the Debentures with a fixed 3.75% interest rate.
+Added: The Company has also issued the Debentures as described in Note 7 to the Consolidated Financial Statements.
The fair value of the Debentures will fluctuate with changes in prevailing interest rates.
3 unchanged sentences
The Company, in the normal course of business, monitors the financial condition of its customers and reviews the credit history of each new customer.
−Removed: The Company establishes an allowance for doubtful accounts (“AFDA”) that corresponds to the specific credit risk of its customers, historical trends and economic circumstances.
−Removed: The AFDA as at February 29, 2020 was $9 million (February 28, 2019 - $25 million).
−Removed: There were two customers that comprised more than 10% of accounts receivable as at February 29, 2020 (February 28, 2019 - one customer that comprised more than 10%).
−Removed: During fiscal 2020, the percentage of the Company’s receivable balance that was past due decreased by 7.4% compared to the fourth quarter of fiscal 2019.
−Removed: Although the Company actively monitors and attempts to collect on its receivables as they become due, the risk of further delays or challenges in obtaining timely payments from its carrier and distributor partners of receivables exists.
+Added: The Company establishes an allowance for credit losses (“ACL”) that corresponds to the specific credit risk of its customers, historical trends and economic circumstances.
+Added: The ACL as at February 28, 2021 was $10 million (February 29, 2020 - $9 million).
+Added: There was one customer that comprised more than 10% of accounts receivable as at February 28, 2021 (February 29, 2020 - two customers that comprised more than 10%).
+Added: During fiscal 2021, the percentage of the Company’s receivable balance that was past due increased by 1.6% compared to the fourth quarter of fiscal 2020.
+Added: Although the Company actively monitors and attempts to collect on its receivables as they become due, the risk of further delays or challenges in obtaining timely payments from its distributor partners (such as resellers and network carriers) exists.
The occurrence of such delays or challenges in obtaining timely payments could negatively impact the Company’s liquidity and financial condition.
−Removed: There was one customer that comprised more than 10% of the Company’s revenue in fiscal 2020 (fiscal 2019 - one customer;
−Removed: fiscal 2018 - no customer).
+Added: The Company’s sales to Teletry represented approximately 3% of the Company’s revenue in the fourth quarter of fiscal 2021 (fourth quarter of fiscal 2020 - 18%) and 22% of the Company’s revenue in fiscal 2021 (fiscal 2020 - 13%).
+Added: No other individual customer accounted for more than 10% of the Company’s revenue in the fourth quarter of fiscal 2021 or in fiscal 2021 and fiscal 2020.
+Added: One other individual customer accounted for more than 10% of the Company’s revenue in the fourth quarter of fiscal 2020.
+Added: In fiscal 2018, the Company entered into a strategic licensing agreement with Teletry under which Teletry may sublicense a broad range of the Company’s patents to global smartphone manufacturers.
+Added: The Company also continues to operate its own licensing program outside of Teletry’s sublicensing rights.
Market values are determined for each individual security in the investment portfolio.
1 unchanged sentence
The Company makes this assessment by considering available evidence including changes in general market conditions, specific industry and individual company data, the length of time and the extent to which the fair value has been less than cost, the financial condition, the near-term prospects of the individual investment and the Company’s ability and intent to hold the debt securities to maturity.
−Removed: During fiscal 2020, the Company recorded $3 million in impairment charges related to a private equity investment without readily determinable fair value (fiscal 2019 and fiscal 2018 - nil).
+Added: During fiscal 2021, the Company recorded nil in impairment charges related to private equity investments without readily determinable fair value (fiscal 2020 - $3 million and fiscal 2019 - nil).
See Note 14 to the Consolidated Financial Statements for additional information regarding the Company’s credit risk as it pertains to its foreign exchange derivative counterparties.
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.