2 unchanged sentences
Foreign Exchange Risk
−Removed: We conduct business serving multiple markets, in four languages, mainly across Europe, Asia, Australia, and North America.
−Removed: For the three months ended March 31, 2021 and 2020, approximately 17% and 18% of our revenues were earned outside the United States, respectively, and certain of these amounts are collected in local currency.
−Removed: 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.
+Added: Prior to June 30, 2021, we conducted business in multiple markets, in four languages, mainly across Europe, Asia, Australia, and North America.
+Added: On June 30, 2021, the Company transferred majority ownership of its eFC business to eFC's management and retained a 40% common share interest.
+Added: As a result, subsequent to June 30, 2021 the Company's operations are conducted within the United States.
+Added: Accordingly, the Company's foreign exchange risk is limited to the value of its investments in entities with foreign operations, which are recorded as equity investments on the Condensed Consolidated Balance sheets at $3.6 million as of June 30, 2021.
+Added: The exchange rate risk is primarily related to exchange rate fluctuations between the British Pound Sterling and the United States dollar and the translation of these.
We currently do not hedge currency risk.
−Removed: 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 three months ended March 31, 2021 would have been a decrease of approximately $31,000 for revenues and $36,000 for expenses.
−Removed: In connection with Brexit, the global markets and currencies have been adversely impacted, including fluctuations in the value of the British Pound Sterling as compared to the United States dollar, which may experience declines in the future.
+Added: Prior to June 30, 2021, the financial statements of our non-United States subsidiaries were translated into United States dollars using then-current exchange rates, with gains or losses included in the cumulative translation adjustment account, which is a component of stockholders’ equity.
+Added: As of June 30, 2021 our cumulative translation adjustment was zero.
+Added: Certain of our equity investments have significant operations in the United Kingdom and may be negatively impacted by the effects of Brexit.
+Added: The global markets and currencies have been adversely impacted by Brexit, including fluctuations in the value of the British Pound Sterling as compared to the United States dollar, which may experience declines in the future.
Volatility in exchange rates may occur as the UK negotiates its exit from the EU.
−Removed: We currently do not hedge our British Pound Sterling exposure and therefore are susceptible to currency risk.
−Removed: In the longer term, any impact from Brexit on us will depend, in part, on the outcome of tariff, trade, regulatory and other negotiations.
+Added: In the longer term, any impact from Brexit on the Company, including its impact on the Company's equity investments, will depend, in part, on the outcome of tariff, trade, regulatory and other negotiations.
Although it is unknown what the result of those negotiations will be, it is possible that new terms may adversely affect our operations and financial results.
In addition, trade talks or pacts between the United States and other nations could adversely affect our operations and financial results.
−Removed: 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 March 31, 2021 and December 31, 2020, our cumulative translation adjustment decreased stockholders’ equity by $28.2 million and $28.5 million, respectively.
−Removed: The change from December 31, 2020 to March 31, 2021 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 March 31, 2021, we had outstanding borrowings of $20.0 million under our Credit Agreement.
+Added: As of June 30, 2021, we had outstanding borrowings of $16.0 million under our Credit Agreement.
If interest rates increased 1.0%, interest expense in 2021 on our current borrowings would increase by approximately $0.2 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.