20 unchanged sentences
dollar strengthened against the Japanese Yen, our Japanese-based competitors would have a greater pricing advantage over us.
−Removed: Changes in foreign currency translation rates increased our revenue by 6.8% and decreased our revenue by 1.1% for the three months ended June 30, 2021 and 2020, respectively.
−Removed: Changes in foreign currency translation rates increased our revenue by 6.5% and decreased our revenue by 1.1% for the six months ended June 30, 2021 and 2020, respectively.
+Added: Changes in foreign currency translation rates increased our revenue by 1.0% and 2.4% for the three months ended September 30, 2021 and 2020, respectively.
+Added: Changes in foreign currency translation rates increased our revenue by 4.5% and 0.1% for the nine months ended September 30, 2021 and 2020, respectively.
Assets and liabilities of our foreign subsidiaries, where the functional currency is the local currency, are translated into U.S.
3 unchanged sentences
Adjustments resulting from financial statement translations are included as a separate component of shareholders’ equity.
−Removed: For the three months ended June 30, 2021 and 2020, we recorded net gains from currency translation adjustments of $14.3 million and $27.1 million, respectively.
−Removed: For the six months ended June 30, 2021 and 2020, we recorded net losses from foreign currency translation of $53.6 million and net gains of $3.9 million, respectively.
+Added: For the three months ended September 30, 2021 and 2020, we recorded net gains (losses) from currency translation adjustments of $(26.6) million and $8.6 million, respectively.
+Added: For the nine months ended September 30, 2021 and 2020, we recorded net gains (losses) from foreign currency translation of $(80.2) million and $5.1 million, respectively.
Gains and losses resulting from foreign currency transactions are reported in interest and other income (expense), net in the unaudited condensed consolidated statements of income and comprehensive income.
3 unchanged sentences
These transactions do not qualify for hedge accounting and, accordingly, the instrument is recorded at fair value with the corresponding gains and losses recorded in the unaudited condensed consolidated statements of income and comprehensive income.
−Removed: As of June 30, 2021, we have several cross-currency and interest rate swap agreements with a notional value of $150.0 million of U.S.
+Added: As of September 30, 2021, we have several cross-currency and interest rate swap agreements with a notional value of $150.0 million of U.S.
dollar to Swiss Franc and a notional value of $355.0 million of U.S.
1 unchanged sentence
Under the GAAP hedge accounting guidance, changes in fair value of the derivative that relates to changes in the foreign currency spot rate are recorded in the currency translation adjustment in comprehensive income (loss) and remain in accumulated comprehensive income (loss) in shareholders’ equity until the sale or substantial liquidation of the foreign operation.
−Removed: For the three months ended June 30, 2021 and 2020, we recorded net gains from the changes in fair value of the derivatives of $1.1 million and net losses of $11.2 million, respectively.
−Removed: For the six months ended June 30, 2021 and 2020, we recorded net gains from the changes in fair value of the derivatives of $28.8 million and net losses of $0.3 million, respectively.
+Added: For the three months ended September 30, 2021 and 2020, we recorded net gains from the changes in fair value of the derivatives of $8.4 million and net losses of $22.1 million, respectively.
+Added: For the nine months ended September 30, 2021 and 2020, we recorded net gains from the changes in fair value of the derivatives of $37.2 million and net losses of $22.4 million, respectively.
On December 11, 2019, we entered into a note purchase agreement, referred to as the 2019 Note Purchase Agreement, with a group of institutional accredited investors.
2 unchanged sentences
Accordingly, the change in fair value of the 2019 Note Purchase Agreement is recorded in other comprehensive income within derivatives designated as hedging instruments, net of tax.
−Removed: For the three months ended June 30, 2021 and 2020, we recorded net losses from the changes in fair value of the 2019 Note Purchase Agreement of $0.7 million and $6.2 million, respectively.
−Removed: For the six months ended June 30, 2021 and 2020, we recorded net gains from the changes in fair value of the 2019 Note Purchase Agreement of $20.0 million and net losses of $7.0 million, respectively.
+Added: For the three months ended September 30, 2021 and 2020, we recorded net gains (losses) from the changes in fair value of the 2019 Note Purchase Agreement of $2.2 million and $(8.2) million, respectively.
+Added: For the nine months ended September 30, 2021 and 2020, we recorded net gains (losses) from the changes in fair value of the 2019 Note Purchase Agreement of $22.2 million and $(15.3) million, respectively.
From time to time, we have entered into forward exchange contracts designed to minimize the volatility that fluctuations in foreign currency have on our cash flows related to purchases and sales denominated in foreign currencies.
2 unchanged sentences
These transactions are recorded at fair value with the corresponding gains and losses recorded in interest and other income (expense), net in the unaudited condensed consolidated statements of income and comprehensive income.
−Removed: At June 30, 2021 and December 31, 2020, we had foreign exchange contracts with notional amounts aggregating $134.5 million and $278.3 million, respectively.
+Added: At September 30, 2021 and December 31, 2020, we had foreign exchange contracts with notional amounts aggregating $124.5 million and $278.3 million, respectively.
We will continue to evaluate our currency risks and in the future may utilize foreign currency contracts more frequently.
11 unchanged sentences
Periodically, we enter into commodity forward purchase contracts to minimize the volatility that fluctuations in the price of copper have on our sales of these products.
−Removed: At June 30, 2021 and December 31, 2020, we had fixed price commodity contracts with notional amounts aggregating $3.8 million and $8.8 million, respectively.
−Removed: The fair value of the fixed price commodity contracts at June 30, 2021 and December 31, 2020 was $2.2 million and $3.1 million, respectively.
+Added: At September 30, 2021 and December 31, 2020, we had fixed price commodity contracts with notional amounts aggregating $4.5 million and $8.8 million, respectively.
+Added: The fair value of the fixed price commodity contracts at September 30, 2021 and December 31, 2020 was $0.8 million and $3.1 million, respectively.
As commodity contracts settle, gains (losses) as a result of changes in fair values are adjusted to the contracts with the customers through revenues.
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.