6 unchanged sentences
Interest Rate Risk
−Removed: As of December 31, 2023, we invest our excess cash balances in marketable securities of highly rated financial institutions and investment-grade debt instruments.
−Removed: We seek to diversify our investments and limit the amount of investment concentrations for individual institutions, maturities and investment types.
+Added: As of December 31, 2024, our excess cash balances were invested in short-term money market funds and short-term debt securities issued by the United States government.
+Added: We seek to diversify our investments and limit the amount of investment concentrations for individual corporate institutions, maturities and investment types.
Most of our interest-bearing securities are subject to interest rate risk and could decline in value if interest rates fluctuate.
−Removed: Based on the type of securities we hold, we do not believe a change in interest rates would have a material impact on our financial statements.
+Added: Based on the type and duration of securities we hold, we do not believe a change in interest rates would have a material impact on our financial statements.
If interest rates were to increase or decrease by 1.00%, the fair value of our investment portfolio would (decrease) increase by approximately $1.0 million and $1.0 million, respectively.
3 unchanged sentences
The Company maintains a portion of its cash deposits in government insured institutions in excess of government insured limits.
−Removed: The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts.
+Added: The Company deposits its cash in financial institutions that it believes have high credit quality and have not experienced any losses on such accounts.
The Company's cash management policy permits investments in U.S.
federal government and federal agency securities, corporate bonds or commercial paper, supranational and sovereign obligations, certain qualifying money market mutual funds, certain repurchase agreements, and places restrictions on credit ratings, maturities, and concentration by type and issuer.
−Removed: The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash in excess of government insured limits and in the event of default by corporations and governments in which it holds
−Removed: investments in cash equivalents and short-term debt securities, to the extent recorded on the consolidated balance sheet.
+Added: The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash in excess of government insured limits and in the event of default by corporations and governments in which it holds investments in cash equivalents and short-term debt securities, to the extent recorded on the consolidated balance sheet.
We have not experienced any credit losses or recorded any allowance for credit losses related to our cash, cash equivalents, and short-term debt securities.
3 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.