3 unchanged sentences
By policy, we do not enter into investments for trading or speculative purposes.
−Removed: As of October 2, 2021, we had cash, cash equivalents and marketable securities of $188.7 million, which was held primarily in cash, money market funds and highly liquid marketable securities such as U.S.
+Added: As of April 2, 2022, we had cash, cash equivalents and marketable securities of $213.1 million, which was held primarily in cash, money market funds and highly liquid marketable securities such as U.S.
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.
−Removed: 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.
−Removed: 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 October 2, 2021, 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: Nine Months Ended
−Removed: 2021 September 26,
+Added: Three Months Ended
+Added: 2022 April 3,
USD 92 % 91 %
−Removed: If USD had appreciated or depreciated by 10%, relative to INR, GBP and RMB, our operating expenses for the first nine months of 2021 would have decreased or increased by approximately $1.6 million, or approximately 1%.
+Added: If USD had appreciated or depreciated by 10%, relative to RMB, GBP and INR, our operating expenses for the first three months of 2022 would have decreased or increased by approximately $0.6 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 nine months ended October 2, 2021 was a net translation loss of $15,000.
+Added: The effect of foreign exchange rate fluctuations on our consolidated financial position for the three months ended April 2, 2022 was a net translation loss of $0.1 million.
This loss is recognized as an adjustment to stockholders’ equity through “Accumulated other comprehensive loss.”
2 unchanged sentences
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.
−Removed: 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.
−Removed: During the nine months ended October 2, 2021, the net gain we recognized related to these foreign exchange assets and liabilities was approximately $0.1 million.
+Added: Transaction gains and losses on these foreign currency denominated assets and liabilities are recognized each period within “Other income (expense), net” in our Condensed Consolidated Statements of Comprehensive Income.
+Added: During the three months ended April 2, 2022, the net gain we recognized related to these foreign exchange assets and liabilities of approximately $41,000.
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.