2 unchanged sentences
Our cash flows and earnings are subject to fluctuations due to changes in foreign currency exchange rates, interest rates and other factors.
−Removed: These market risk exposures are disclosed in Part II, Item 7A of our Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 1, 2021.
+Added: These market risk exposures are disclosed in Part II, Item 7A of our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 28, 2022.
Interest Rate Sensitivity
−Removed: Our unrestricted cash and cash equivalents total $119.2 million at September 30, 2021.
+Added: Our unrestricted cash and cash equivalents tot al $94.3 million as of March 31, 2022.
We primarily invest these amounts in money market funds which are held for working capital purposes.
We do not enter into investments for trading or speculative purposes.
−Removed: As of September 30, 2021, the effect of a hypothetical 10% decrease in market interest rates would have an immaterial impact on a potential loss in future interest income and cash flows.
+Added: As of March 31, 2022, the effect of a hypothetical 10% decrease in market interest rates would have a $17 thousand impact on a potential loss in future interest income and cash flows.
In June 2017, we entered into a Credit Facility with Western Alliance Bank consisting of term loans up to $10.0 million, and advances under a revolving line of credit up to $5.0 million.
2 unchanged sentences
Increases in these variable interest rates will increase our future interest expense and decrease our results of operations and cash flows.
−Removed: No amounts were drawn under the Credit Facility as of September 30, 2021.
+Added: Our right to take draws on the long term debt expired on December 31, 2021 and no amounts were drawn under the Credit Facility as of March 31, 2022.
Our exposure to interest rates risk relates to our 2017 Credit Facility with variable interest rates, where an increase in interest rates may result in higher borrowing costs.
−Removed: Since we have no outstanding borrowings under our 2017 Credit Facility as of September 30, 2021, the effect of a hypothetical 10% change in interest rates would not have any impact on our interest expense.
+Added: Since we have no outstanding borrowings under our 2017 Credit Facility as of March 31, 2022, the effect of a hypothetical 10% change in interest rates would not have any impact on our interest expense.
Foreign Currency Risk
Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates.
+Added: In periods when the USD declines in value as compared to the foreign currencies in which we incur expenses, our foreign-currency based expenses increase when translated into United States dollars.
Although substantially all of our sales are denominated in United States dollars, future fluctuations in the value of the USD may affect the price competitiveness of our products outside the United States.
−Removed: The impact of changes in foreign currency exchange rates on our operations and cash flows may be difficult or impossible to quantify.
+Added: Our most significant foreign currency exposure is due to non-functional currency denominated monetary assets, primarily currencies denominated in other than their functional currency.
+Added: These non-functional currency denominated monetary assets are subject to re-measurement which may create fluctuations in other expense, net, a component in our consolidated statement of operations and in the fair value of the assets in the consolidated balance sheets.
+Added: As of March 31, 2022, the effect of a hypothetical 10% unfavorable change in exchange rates on currencies denominated in other than their functional currency would result in a potential loss in future earnings in our consolidated statement of operations and a reduction in the fair value of the assets of approximate ly $46 thousand.
Investment in Non-Marketable Equity Securities
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.