16 unchanged sentences
However, due to our increased use of offshore labor centers, we have become more exposed to fluctuations in foreign currency exchange rates.
−Removed: We experienced significant foreign currency fluctuations during fiscal 2022 due primarily to the volatility of the Euro, British Pound, Canadian Dollar, and Australian Dollar in relation to the U.S.
−Removed: Significant foreign currency fluctuations during fiscal 2021 was due primarily to the volatility of the Australian dollar, British Pound and Euro in relation to the U.S.
+Added: We experienced significant foreign currency fluctuations during fiscal 2023 due primarily to the volatility of the Euro, British Pound, and Australian Dollar in relation to the U.S.
+Added: Significant foreign currency fluctuations during fiscal 2022 were due primarily to the volatility of the Euro, British Pound, Canadian Dollar, and Australian Dollar in relation to the U.S.
We have policies and procedures to manage exposure to fluctuations in foreign currency by using short-term foreign currency forward contracts to economically hedge certain foreign currency denominated assets and liabilities, including intercompany accounts and loans.
2 unchanged sentences
For accounting purposes, these foreign currency forward contracts are designated as cash flow hedges with critical terms that match the hedged items.
−Removed: Therefore, the changes in fair value of these forward contracts are recorded in accumulated other comprehensive income, net of taxes in the statements of comprehensive income and subsequently classified into net income in the period the hedged transactions are recognized in net income.
+Added: Therefore, the changes in fair value of these forward contracts are recorded in accumulated other comprehensive (loss) income, net of taxes in the statements of comprehensive income and subsequently classified into net income in the period the hedged transactions are recognized in net income.
We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than U.S.
−Removed: dollar, see Note 21 - "Revenue." During fiscal 2022, approximately 71% of our revenues were generated outside of the United States.
+Added: see Note 12 - "Revenue." During fiscal 2023, approximately 70% of our revenues were generated outside of the United States.
For the year ended March 31, 2023, a hypothetical 10% increase (decrease) in the value of the U.S.
1 unchanged sentence
The majority of this fluctuation would be offset by expenses incurred in local currency.
−Removed: and as a result, there would not be a material change to our income from continuing operations before taxes.
−Removed: As such, in the view of management, the resulting impact would not be material to our results of operations or cash flows.
+Added: To the extent that we were not able to match local currency revenues with local currency expenses, there would be an impact to our results of operations and cash flows.
Interest Rate Risk
3 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.