6 unchanged sentences
Short-term marketable securities (2)
−Removed: 41,306 49,620
Restricted cash 3,239 3,239
6 unchanged sentences
Our portfolio of available-for-sale debt securities is exposed to credit and interest rate risk.
−Removed: As of December 31, 2021, we invested $41.3 million in marketable securities primarily consisting of commercial paper and agency bonds with credit rating of AA+ or equivalent by S&P Rating and Moody's Investor Services.
−Removed: The maturity of these securities were below two years.
See Note 4 – Fair Value Measurements in our Notes to Consolidated Financial Statements for further discussion on our available-for-sale debt securities.
−Removed: As of December 31, 2021, our net contract assets consisted of commissions receivable balance of $908.3 million.
+Added: As of December 31, 2022, our net contract assets – commissions receivable balance was $884.3 million.
Our contracts with carriers expose us to credit risk that a financial loss could be incurred if the counterparty does not fulfill its financial obligation.
While we are exposed to credit losses due to the non-performance of our counterparties, we consider the risk of this remote.
−Removed: We estimate our maximum credit risk in determining the commissions receivable amount recorded on the balance sheet.
−Removed: Upon the adoption of ASC 326, we recorded $1.5 million of allowance for credit losses for our commissions receivable balance as of January 1, 2020.
−Removed: During the years ended December 31, 2021 and 2020, we recorded additional allowances for credit losses $0.2 million and $0.5 million.
−Removed: respectively.
−Removed: See Note 1 – Summary of Business and Significant Accounting Policies i n our Notes to Consolidated Financial
−Removed: Statements for additional information regarding the accounting standard adoption.
+Added: We estimate our maximum credit risk in determining the contract assets – commissions receivable balance recognized on the balance sheet.
+Added: We had allowances for credit losses of
+Added: Tab le of Contents
+Added: $2.4 million and $2.2 million as of December 31, 2022 and 2021, respectively.
Our total contract assets and accounts receivable as of December 31, 2022 and December 31, 2021 are summarized as follows (in thousands):
10 unchanged sentences
We have not engaged in any foreign currency hedging or other derivative transactions to date.
+Added: Tab le of Contents
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.