Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Currency Risk
We are exposed to foreign
currency risks that arise from normal business operations. These risks include the translation of local currency balances and results
of our non-United States subsidiaries into United States dollars, currency gains and losses related to intercompany and third-party transactions
denominated in currencies other than a subsidiary's functional currency, and currency gains and losses associated with global intercompany
receivable and payable balances. Our principal currency exposures relate to the Serbian Dinar and the Euro. The impact of foreign exchange
rate fluctuations on our net earnings in the first quarter ending March 31, 2024 was not significant.
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