3 unchanged sentences
We conduct business serving multiple markets, in four languages, mainly across Europe, Asia, Australia, and North America.
−Removed: For the three months ended June 30, 2020 and 2019, approximately 17% and 20% of our revenues were earned outside the United States, respectively, and certain of these amounts are collected in local currency.
+Added: For the three months ended September 30, 2020 and 2019, approximately 17% and 20% of our revenues were earned outside the United States, respectively, and certain of these amounts are collected in local currency.
We are subject to risk for exchange rate fluctuations between such local currencies and the British Pound Sterling, primarily, and the United States dollar and the translation of these.
1 unchanged sentence
A decrease in foreign exchange rates during a period would result in decreased amounts reported in our Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, Comprehensive Income (loss), and of Cash Flows.
−Removed: For example, if foreign exchange rates between the British Pound Sterling and United States dollar decreased by 1.0%, the impact on our revenues and expenses for the six months ended June 30, 2020 would have been a decrease of approximately $0.1 million to both revenues and expenses.
+Added: For example, if foreign exchange rates between the British Pound Sterling and United States dollar decreased by 1.0%, the impact on our revenues and expenses for the nine months ended September 30, 2020 would have been a decrease of approximately $0.1 million to both revenues and expenses.
In connection with Brexit, the global markets and currencies have been adversely impacted, including a decline in the value of the British Pound Sterling as compared to the United States dollar.
5 unchanged sentences
The financial statements of our non-United States subsidiaries are translated into United States dollars using current exchange rates, with gains or losses included in the cumulative translation adjustment account, which is a component of stockholders’ equity.
−Removed: As of June 30, 2020 and December 31, 2019, our cumulative translation adjustment decreased stockholders’ equity by $33.3 million and $29.2 million, respectively.
−Removed: The change from December 31, 2019 to June 30, 2020 is primarily attributable to the position of the British Pound sterling against the United States dollar.
+Added: As of September 30, 2020 and December 31, 2019, our cumulative translation adjustment decreased stockholders’ equity by $30.6 million and $29.2 million, respectively.
+Added: The change from December 31, 2019 to September 30, 2020 is primarily attributable to the position of the British Pound sterling against the United States dollar.
Interest Rate Risk
2 unchanged sentences
The margin ranges from 1.75% to 2.50% on the LIBOR loans and 0.75% to 1.50% on the base rate, as determined by our most recent consolidated leverage ratio.
−Removed: As of June 30, 2020, we had outstanding borrowings of $37.0 million under our Credit Agreement.
+Added: As of September 30, 2020, we had outstanding borrowings of $37.0 million under our Credit Agreement.
If interest rates increased 1.0%, interest expense in 2020 on our current borrowings would increase by less than $0.1 million.
7 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.