1 unchanged sentence
Interest rate risk
−Removed: As of March 31, 2020 , our total debt outstanding, excluding unamortized debt issuance costs, was $1,105.9 million .
+Added: As of June 30, 2020 , our total debt outstanding, excluding unamortized debt issuance costs, was $1,119.3 million .
Of this amount, $444.5 million , net of debt discounts, or 40% of our total debt obligations, relates to contingent convertible notes having a fixed coupon rate.
Our $525.0 million outstanding principal amount of contingent convertible notes accrue cash interest at a rate of 0.75% of the principal amount per annum.
−Removed: Based on quoted market prices, as of March 31, 2020 , the fair value of our fixed rate convertible notes was $597.0 million , compared to a carrying value of $440.7 million .
+Added: Based on quoted market prices, as of June 30, 2020 , the fair value of our fixed rate convertible notes was $647.2 million , compared to a carrying value of $444.5 million .
Interest expense for these notes, including accretion and amortization of deferred debt issuance costs, has a weighted average interest rate of 4.4% annually.
−Removed: Further, as of March 31, 2020 we had no borrowings under our Credit Facility.
+Added: Further, as of June 30, 2020 we had no borrowings under our Credit Facility.
Additionally, $673.9 million , or 60% of our total debt obligations, relates to Senior Notes having a fixed coupon rate.
Our €600 million outstanding principal amount of Senior Notes accrue cash interest at a rate of 1.375% of the principal per annum.
−Removed: Based on quoted market prices, as of March 31, 2020 , the fair value of our fixed rate Senior Notes was $615.7 million , compared to a carrying value of $661.6 million .
+Added: Based on quoted market prices, as of June 30, 2020 , the fair value of our fixed rate Senior Notes was $632.3 million , compared to a carrying value of $673.9 million .
The remaining $0.9 million , or 0.1% of our total debt obligations, is related to borrowings by certain subsidiaries to fund, from time to time, working capital requirements.
3 unchanged sentences
Foreign currency exchange rate risk
−Removed: For the first quarter of 2020 , approximately 70% and of our revenues were generated in non-U.S.
+Added: For the six months ended June 30, 2020, approximately 70% and of our revenues were generated in non-U.S.
dollar countries and we expect to continue generating a significant portion of our revenues in countries with currencies other than the U.S.
1 unchanged sentence
dollar to the currencies of countries in which we have significant operations, primarily the euro, British pound, Australian dollar, Polish zloty, Indian rupee, New Zealand dollar, Malaysian ringgit and Hungarian forint.
−Removed: As of March 31, 2020 , we estimate that a 10% fluctuation in these foreign currency exchange rates would have the combined annualized effect on reported net income and working capital of approximately $38.0 million to $43.0 million .
+Added: As of June 30, 2020 , we estimate that a 10% fluctuation in these foreign currency exchange rates would have the combined annualized effect on reported net income and working capital of approximately $8.0 million to $13.0 million .
This effect is estimated by applying a 10% adjustment factor to our non-U.S.
12 unchanged sentences
dollar and negatively impacted by a strengthening of the U.S.
−Removed: Additionally, our debt obligations are primarily in U.S.
+Added: Additionally, a significant portion of our debt obligations are in U.S.
therefore, as foreign currency exchange rates fluctuate, the amount available for repayment of debt will also increase or decrease.
7 unchanged sentences
The changes in fair value related to these contracts are recorded in Foreign currency exchange (loss) gain, net on the Consolidated Statements of Income.
−Removed: As of March 31, 2020 , we had foreign currency derivative contracts outstanding with a notional value of $213 million , primarily in Australian dollars, British pounds, Canadian dollars, euros and Mexican pesos, that were not designated as hedges and mature within a few days.
+Added: As of June 30, 2020 , we had foreign currency derivative contracts outstanding with a notional value of $222 million , primarily in Australian dollars, British pounds, Canadian dollars, euros and Mexican pesos, that were not designated as hedges and mature within a few days.
For derivative instruments our xe operations write to customers, we aggregate the foreign currency exposure arising from customer contracts, and hedge the resulting net currency risks by entering into offsetting contracts with established financial institution counterparties as part of a broader foreign currency portfolio.
The changes in fair value related to the total portfolio of positions are recorded in Revenues on the Consolidated Statements of Income.
−Removed: As of March 31, 2020 , we held foreign currency derivative contracts outstanding with a notional value of $1.5 billion , primarily in U.S.
+Added: As of June 30, 2020 , we held foreign currency derivative contracts outstanding with a notional value of $1.5 billion , primarily in U.S.
dollars, euros, British pounds, Australian dollars and New Zealand dollars, that were not designated as hedges and for which the majority mature within the next twelve months.
−Removed: We use longer-term foreign currency forward contracts to mitigate risks associated with changes in foreign currency exchange
−Removed: rates on certain foreign currency denominated other asset and liability positions.
−Removed: As of March 31, 2020 , the Company had foreign currency forward contracts outstanding with a notional value of $193 million , primarily in euros.
−Removed: See Note 9, Derivative Instruments and Hedging Activities, to our Consolidated Financial Statements for additional information.
+Added: We use longer-term foreign currency forward contracts to mitigate risks associated with changes in foreign currency exchange rates on certain foreign currency denominated other asset and liability positions.
+Added: As of June 30, 2020 , the Company had foreign currency forward contracts outstanding with a notional value of $332 million , primarily in euros.
+Added: See Note 9, Derivative Instruments and Hedging Activities, to our unaudited consolidated financial statements for additional information.
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.