3 unchanged sentences
Our cash, cash equivalents, short-term marketable securities and restricted cash are summarized as follows (in thousands):
−Removed: September 30, 2023 December 31, 2022
+Added: March 31, 2024 December 31, 2023
Cash and cash equivalents (1) (2)
8 unchanged sentences
federal government.
−Removed: (2) See Note 4 – Fair Value Measurements in our Notes to Condensed Consolidated Financial Statements for more information on our cash and cash equivalents and marketable securities.
+Added: (2) See Note 4 – Fair Value Measurements in our Notes to Condensed Consolidated Financial Statements for additional information on our cash and cash equivalents and marketable securities.
Our portfolio of available for sale debt securities is exposed to credit and interest rate risk.
−Removed: As of September 30, 2023, we invested $8.5 million in marketable securities primarily consisting of commercial paper and agency bonds.
+Added: As of March 31, 2024, we invested $13.9 million in marketable securities primarily consisting of commercial paper and agency bonds.
The maturities of these securities were less than one year.
See Note 4 – Fair Value Measurements in our Notes to Condensed Consolidated Financial Statements for further discussion on our available for sale debt securities.
−Removed: As of September 30, 2023, our net contract assets – commissions receivable balance was $780.6 million.
−Removed: 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.
−Removed: 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 contract assets – commissions receivable balance recognized on the balance sheet.
−Removed: We had allowances for credit losses of $2.0 million and $2.4 million as of September 30, 2023 and December 31, 2022, respectively.
Our total contract assets and accounts receivable are summarized as follows (in thousands):
−Removed: September 30, 2023 December 31, 2022
+Added: March 31, 2024 December 31, 2023
Contract assets – commissions receivable – current $ 203,013 $ 244,663
2 unchanged sentences
Total contract assets and accounts receivable $ 846,740 $ 922,170
+Added: As of March 31, 2024, our net contract assets – commissions receivable balance was $845.3 million.
+Added: 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.
+Added: While we are exposed to credit losses due to the non-performance of our counterparties, we consider this risk to be remote.
+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 $1.9 million and $2.1 million as of March 31, 2024 and December 31, 2023, respectively.
Foreign Currency Exchange Risk
5 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.