4 unchanged sentences
Interest Rate Risk
−Removed: As of June 30, 2021, we had cash and restricted cash of $138.6 million, which consisted primarily of bank deposits.
+Added: As of September 30, 2021, we had cash and restricted cash of $76.3 million, which consisted primarily of bank deposits.
Our cash is held for working capital purposes.
−Removed: As of June 30, 2021, we had indebtedness of $270.0 million under the syndicated First Lien Term Loan which bears variable market rates, primarily LIBOR.
+Added: On September 3, 2021 we entered into a new Credit Agreement which replaced our previous credit facilities under First Lien and Credit Guaranty Agreement.
+Added: As of September 30, 2021, under the new Credit Agreement, we had $250.0 million Term Loan outstanding (face value), and the Term Loan bears variable market rates, primarily LIBOR.
+Added: Refer to Note 8 “Debt – Credit Agreement” for additional information on this new Credit Agreement.
A significant change in these market rates may adversely affect our operating results.
−Removed: As of June 30, 2021, a hypothetical 100 basis point change in interest rates would result in a change to interest expense by approximately $0.2 million for the six months ended June 30, 2021.
+Added: As of September 30, 2021, a hypothetical 100 basis point change in interest rates would result in a change to annual interest expense by approximately $2.5 million.
Foreign Currency Risk
−Removed: Approximately 18.9% of our net revenue in the six months ended June 30, 2021 was denominated in foreign currencies.
+Added: Approximately 20.5% of our net revenue in the nine months ended September 30, 2021 was denominated in foreign currencies, primarily Euro and British Pound.
Any unfavorable movement in the exchange rate between U.S.
−Removed: dollars and the currencies in which we conduct sales in foreign countries could have an adverse impact on our net revenue and gross margins as we may have to have to adjust local currency product pricing due to competitive pressures if there is significant volatility in foreign currency exchange rates.
+Added: dollars and the currencies in which we conduct sales in foreign countries could have an adverse impact on our net revenue and gross margins as we may have to adjust local currency product pricing due to competitive pressures if there is significant volatility in foreign currency exchange rates.
Our operating expenses are denominated in the currencies of the countries in which our operations are located, which are primarily in the United States, Europe, China and Taiwan.
Our operating results and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates.
−Removed: The impact of changes in foreign currency rates recognized in other (expense) income, net was $(2.6) million and $(0.1) million for the six months ended June 30, 2021 and 2020, respectively.
−Removed: The primary currency fluctuations to which we are exposed are the Euro, British Pound and the Chinese Yuan.
We enter into forward currency contracts to reduce the short-term effects of currency fluctuations on Euro, British Pound, and Chinese Yuan denominated cash, accounts receivable, and intercompany receivable and payable balances.
These forward contracts generally mature within three to four months, and we do not enter into foreign currency forward contracts for trading purposes.
−Removed: The outstanding notional principal amount was $48.3 million and $41.6 million as of June 30, 2021 and December 31, 2020, respectively.
+Added: The outstanding notional principal amount was $38.5 million and $41.6 million as of September 30, 2021 and December 31, 2020, respectively.
The gains or losses on these contracts are recognized in earnings based on the changes in fair value.
−Removed: We analyzed our foreign currency exposure to identify assets and liabilities denominated in other currencies.
−Removed: As we grow our operations, our exposure to foreign currency risk could become more significant.
−Removed: A hypothetical ten percent change in exchange rates between those currencies and the U.S.
−Removed: dollar would increase or decrease our gains or losses on foreign currency exchange of approximately $1.7 million in our combined consolidated financial statements for the six months ended June 30, 2021
+Added: The impact of changes in foreign currency rates, including the gains or losses on the forward currency contracts, recognized in other (expense) income, net was $(4.1) million and $(0.3) million for the nine months ended September 30, 2021 and 2020, respectively.
+Added: A hypothetical ten percent change in exchange rates between foreign currencies and the U.S.
+Added: dollar would increase or decrease our gains or losses on foreign currency exchange of approximately $2.8 million in our combined consolidated financial statements for the nine months ended September 30, 2021.
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.