2 unchanged sentences
Interest Rate Risk
−Removed: Our cash and cash equivalents primarily consist of cash on hand and highly liquid investments in bank deposits and money market funds.
−Removed: Our investments are exposed to market risk due to fluctuations in interest rates, which may affect our interest income and the fair value of our investments.
−Removed: As of January 31, 2022, we had cash and cash equivalents of $2.0 billion and no marketable securities.
−Removed: The carrying amount of our cash equivalents reasonably approximates fair value due to the short maturities of these instruments.
+Added: Our cash and cash equivalents primarily consist of cash on hand and highly liquid investments in time deposits and money market funds.
+Added: Our short-term investments consist of time deposits.
+Added: Our investments do not have significant interest rate risk, as the yields on our investments are fixed rates.
+Added: As of January 31, 2023, we had cash and cash equivalents of $2.5 billion, short-term investments of $250.0 million, and no marketable securities.
The primary objectives of our investment activities are the preservation of capital, the fulfillment of liquidity needs, and the fiduciary control of cash and investments.
We do not enter into investments for trading or speculative purposes.
−Removed: Due to the short-term nature of our investment portfolio, the effect of a hypothetical 100 basis point change in interest rates would not have had a material effect on the fair market value of our portfolio as of January 31, 2022.
+Added: The effect of a hypothetical 100 basis point change in interest rates would not have had a material effect on the fair market value of our portfolio as of January 31, 2023.
We therefore do not expect our results of operations or cash flows to be materially affected by a sudden change in market interest rates.
6 unchanged sentences
The functional currency of our foreign subsidiaries is that country’s local currency.
−Removed: Foreign currency transaction gains and losses are recorded to Other income (expense), net.
+Added: Foreign currency transaction gains and losses are recorded to other income, net.
A hypothetical 10% adverse change in the U.S.
2 unchanged sentences
Inflation Rate Risk
−Removed: We do not believe that inflation had a material effect on our business, financial conditions or results of operations during the fiscal year ended January 31, 2022.
+Added: We do not believe that inflation had a material effect on our business, financial condition, or results of operations during the fiscal year ended January 31, 2023.
If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.
1 unchanged sentence
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.