3 unchanged sentences
By policy, we do not enter into investments for trading or speculative purposes.
−Removed: At April 3, 2021, we had cash, cash equivalents and marketable securities of $150.0 million, which was held primarily in cash, money market funds and highly liquid marketable securities such as U.S.
−Removed: government securities and commercial paper.
+Added: As of July 3, 2021, we had cash, cash equivalents and marketable securities of $175.8 million, which was held primarily in cash, money market funds and highly liquid marketable securities such as U.S.
+Added: government agency securities and commercial paper.
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.
1 unchanged sentence
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 fixed charge coverage ratio.
−Removed: As of April 3, 2021, we had no outstanding borrowings under the BofA Loan Agreement.
+Added: As of July 3, 2021, we had no outstanding borrowings under the BofA Loan Agreement.
Foreign Currency Exchange Risk
5 unchanged sentences
Increases in the local currency rates of these vendors in relation to USD could cause an increase in the price of products that we purchase.
−Removed: Additionally, if the USD strengthens relative to other currencies, such strengthening could have an indirect effect on our sales to the extent it raises the cost of our products to non-U.S.
+Added: Additionally, if the USD strengthens relative to other currencies, such strengthening could have an indirect effect on our sales to the extent it raises the
+Added: cost of our products to non-U.S.
customers and thereby reduces demand.
7 unchanged sentences
The percentages of our operating expenses denominated in the following currencies for the indicated periods were as follows:
−Removed: Three Months Ended
−Removed: 2021 March 28,
+Added: Six Months Ended
+Added: 2021 June 27,
USD 92 % 92 %
−Removed: If USD had appreciated or depreciated by 10%, relative to RMB and GBP, our operating expenses for the first three months of 2021 would have decreased or increased by approximately $0.5 million, or approximately 1%.
+Added: If USD had appreciated or depreciated by 10%, relative to RMB and GBP, our operating expenses for the first six months of 2021 would have decreased or increased by approximately $1.1 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 three months ended April 3, 2021 was a net translation loss of $35,000.
−Removed: This loss is recognized as an adjustment to stockholders’ equity through accumulated other comprehensive loss.
+Added: The effect of foreign exchange rate fluctuations on our consolidated financial position for the six months ended July 3, 2021 was a net translation gain of $9,000.
+Added: This gain is recognized as an adjustment to stockholders’ equity through accumulated other comprehensive loss.
Transaction Exposure
2 unchanged sentences
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 Income (Loss).
−Removed: During the three months ended April 3, 2021, the net gain we recognized related to these foreign exchange assets and liabilities was approximately $0.2 million.
+Added: During the six months ended July 3, 2021, the net gain we recognized related to these foreign exchange assets and liabilities was approximately $0.5 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.