2 unchanged sentences
We manage the impact of foreign currency exchange rates and interest rates through various financial instruments, including derivative instruments such as foreign currency forward contracts, foreign currency options, interest rate lock contracts and interest rate swap contracts.
+Added: Table o f Contents
We do not enter into financial instruments for trading or speculative purposes.
18 unchanged sentences
In December 2023 the Argentinian Peso experienced a substantial devaluation following a presidential election.
−Removed: The devaluation resulted in a $16.0 million charge recorded
−Removed: T able of Contents
−Removed: during the fourth quarter of 2023 in other (income) expense, net within our consolidated statements of income for the year ended December 31, 2023.
+Added: The devaluation resulted in a $16.0 million charge recorded during the fourth quarter of 2023 in other (income) expense, net within our consolidated statements of income for the year ended December 31, 2023.
REVENUE AND OPERATING EXPENSE HEDGING PROGRAM
16 unchanged sentences
The estimated fair value change was determined by measuring the impact of the hypothetical exchange rate movement on outstanding forward contracts.
−Removed: Our use of this methodology to quantify the market risk of such instruments is subject to assumptions and actual impact could be significantly different.
+Added: Our use of this methodology to quantify the market risk of such instruments is subject to assumptions and actual impact could be significantly
+Added: Table o f Contents
The quantitative information about market risk is limited because it does not take into account all foreign currency operating transactions.
−Removed: INTEREST RATE RISK
−Removed: Our investment portfolio includes cash equivalents and short-term investments.
−Removed: The fair value of our marketable securities is subject to change as a result of potential changes in market interest rates.
−Removed: The potential change in fair value for interest rate sensitive instruments has been assessed on a hypothetical 100 basis point adverse movement across all maturities.
−Removed: As of December 31, 2022, we estimate that such hypothetical 100 basis point adverse movement would result in a hypothetical loss in fair value of approximately $11.7 million to our interest rate sensitive instruments.
−Removed: The fair values of our investments were determined using third-party pricing services or other market observable data.
−Removed: We partially funded our Reata acquisition through available cash, cash equivalents and marketable securities.
−Removed: As of December 31, 2023 , we have sold all of our marketable debt securities.
−Removed: For additional information on our acquisition of Reata, please read Note 2, Acquisitions , to our consolidated financial statements included in this report.
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Financial instruments that potentially subject us to concentrations of credit risk include cash and cash equivalents, investments, derivatives and accounts receivable.
18 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.