3 unchanged sentences
By policy, we do not enter into investments for trading or speculative purposes.
−Removed: At June 27, 2020, we had cash of $50.6 million, which is not exposed to interest rate risk.
+Added: At September 26, 2020, we had cash, cash equivalents and marketable securities of $104.4 million, which was held primarily in cash, money market funds and highly liquid marketable securities such U.S.
+Added: government securities.
+Added: Due to the nature of these money market funds and highly liquid marketable securities, we believe that we do not have any material exposure to changes in the fair value of our cash equivalents and marketable securities as a result of changes in interest rates.
Our exposure to interest rate risk also relates to the amount of interest we must pay on our borrowings under our Loan Agreement with BofA.
Borrowings under the BofA Loan Agreement will bear interest through maturity at a variable annual rate based upon an annual rate of either a prime rate or a LIBOR rate, plus an applicable margin between 0.5% to 1.0% for prime rate advances and between 1.5% and 2.0% for LIBOR advances based on our FCCR.
−Removed: As of June 27, 2020, we had $26.0 million outstanding in borrowings under the BofA Loan Agreement.
+Added: As of September 26, 2020, we had no outstanding borrowings under the BofA Loan Agreement.
Foreign Currency Exchange Risk
15 unchanged sentences
The percentages of our operating expenses denominated in the following currencies for the indicated periods were as follows:
−Removed: Six Months Ended
−Removed: 2020 June 29,
+Added: Nine Months Ended
+Added: September 26,
+Added: 2020 September 28,
USD 93 % 90 %
−Removed: If USD had appreciated or depreciated by 10%, relative to RMB and GBP, our operating expenses for the first six months of 2020 would have decreased or increased by approximately $0.9 million, or approximately 1%.
+Added: If USD had appreciated or depreciated by 10%, relative to RMB and GBP, our operating expenses for the first nine months of 2020 would have decreased or increased by approximately $1.2 million, or approximately 1%.
We do not currently enter into forward exchange contracts to hedge exposure denominated in foreign currencies or any derivative financial instruments.
1 unchanged sentence
Foreign exchange rate fluctuations may also adversely impact our financial position as the assets and liabilities of our foreign operations are translated into USD in preparing our Condensed Consolidated Balance Sheets.
−Removed: The effect of foreign exchange rate fluctuations on our consolidated financial position for the six months ended June 27, 2020 was a net translation gain of $0.2 million.
+Added: The effect of foreign exchange rate fluctuations on our consolidated financial position for the nine months ended September 26, 2020 was a net translation gain of $0.2 million.
This gain is recognized as an adjustment to stockholders’ equity through accumulated other comprehensive loss.
1 unchanged sentence
We have certain assets and liabilities, primarily receivables and accounts payable (including inter-company transactions) that are denominated in currencies other than the relevant entity’s functional currency.
−Removed: In certain circumstances, changes in the
−Removed: functional currency value of these assets and liabilities create fluctuations in our reported consolidated financial position, cash flows and results of operations.
+Added: In certain circumstances, changes in the functional currency value of these assets and liabilities create fluctuations in our reported consolidated financial position, cash flows and results of operations.
Transaction gains and losses on these foreign currency denominated assets and liabilities are recognized each period within “Other expense, net” in our Condensed Consolidated Statements of Comprehensive Loss.
−Removed: During the six months ended June 27, 2020, the net gain we recognized related to these foreign exchange assets and liabilities was approximately $16,000.
+Added: During the nine months ended September 26, 2020, the net loss we recognized related to these foreign exchange assets and liabilities was approximately $0.7 million.
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.