9 unchanged sentences
The Company enters into economic hedges utilizing foreign currency forward contracts with maturities of up to three months to manage the exposure to fluctuations in foreign currency exchange rates arising primarily from foreign-denominated receivables and payables.
−Removed: Table of Content
The Company had the following outstanding forward contracts as of December 31, 2024 and 2023 (in thousands):
2 unchanged sentences
Derivatives Not Designated as Hedging Instruments:
−Removed: Euro 40,000 $ 44,302 0.9029 0.9029 60,000 $ 64,174 0.9350 0.9350
Singapore Dollar 40,000 $ 29,457 1.36 1.36 39,700 $ 30,136 1.32 1.32
−Removed: Mexican Peso 145,000 8,505 17.05 17.05 185,000 9,480 19.51 19.51
+Added: Euro 25,000 26,029 0.9605 0.9605 40,000 44,302 0.9029 0.9029
Chinese Renminbi 95,000 12,990 7.31 7.31 50,000 7,025 7.12 7.12
+Added: Mexican Peso 220,000 10,701 20.56 20.56 145,000 8,505 17.05 17.05
Hungarian Forint 2,360,000 5,951 396.59 396.59 2,240,000 6,466 346.45 346.45
1 unchanged sentence
Japanese Yen 2,000,000 3,750 156.52 156.52 600,000 4,255 141.02 141.02
−Removed: Canadian Dollar 1,470 1,112 1.32 1.32 1,730 1,278 1.35 1.35
Swiss Franc 2,200 2,432 0.9047 0.9047 — — — —
+Added: Canadian Dollar 2,000 1,390 1.44 1.44 1,470 1,112 1.32 1.32
A change in foreign currency exchange rates could materially impact the fair value of these contracts;
4 unchanged sentences
Furthermore, our failure to identify new exposures and hedge them in an effective manner may result in material foreign currency gains or losses.
+Added: Table of Content
The Company’s functional currency/reporting currency exchange rate exposures result from revenues and expenses that are denominated in currencies other than the U.S.
In addition to the U.S.
−Removed: Dollar, a significant portion of our revenues and expenses are denominated in the Euro and Chinese Renminbi, and to a lesser extent the Korean Won, Japanese Yen, Mexican Peso, and Indian Rupee.
+Added: Dollar, a significant portion of our revenues and expenses are denominated in the Euro and Chinese Renminbi, and to a lesser extent the Japanese Yen, Korean Won, Indian Rupee, and Mexican Peso.
We estimate that approximately 55% of our sales in 2024 were invoiced in currencies other than the U.S.
10 unchanged sentences
Debt securities with original maturities greater than three months are designated as available-for-sale and are reported at fair value.
−Removed: As of December 31, 2023, the fair value of the Company’s portfolio of debt securities amounted to $373,622,000, with amortized cost amounts totaling $383,589,000, maturities that do not exceed seven years, and a yield to maturity of 2.3%.
+Added: As of December 31, 2024, the fair value of the Company’s portfolio of debt securities amounted to $400,854,000, with amortized cost amounts totaling $405,758,000, maturities that do not exceed six years, and a yield to maturity of 3.8%.
Differences between the fair value and principal amounts of the Company’s portfolio of debt securities are primarily attributable to discounts and premiums arising at the acquisition date, as well as unrealized gains and losses as of the balance sheet date.
5 unchanged sentences
As a result, the Company does not currently hedge these interest rate exposures.
−Removed: Table of Content
The following table presents the hypothetical change in the fair value of the Company’s portfolio of debt securities arising from selected potential changes in interest rates (in thousands).
12 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.