−Removed: Quantitative and Qualitative
−Removed: Disclosures About Market Risk
−Removed: We are subject to
−Removed: financial market risks, including changes in interest rates with respect to investments in debt securities and outstanding debt payable,
+Added: and Qualitative Disclosures About Market Risk
+Added: We are subject
+Added: to financial market risks, including changes in interest rates with respect to investments in debt securities and outstanding debt payable,
as well as changes in marketable equity security prices.
4 unchanged sentences
The return on investments is generally not affected by foreign currency fluctuations.
−Removed: Our investments in
−Removed: portfolio securities consist of some fixed-rate debt securities.
+Added: Our investments
+Added: in portfolio securities consist of some fixed-rate debt securities.
Since the debt securities are generally priced at a fixed rate, changes
3 unchanged sentences
their fair values based on the terms of the relevant debt security and the financial condition of the issuer.
−Removed: A major portion of
−Removed: our investment portfolio consists of equity investments in private companies.
−Removed: Modest changes in public market equity prices generally
−Removed: do not significantly impact the estimated fair value of these investments.
−Removed: However, significant changes in market equity prices can have
−Removed: a longer-term effect on valuations of private companies, which could affect the carrying value and the amount and timing of gains or losses
−Removed: realized on these investments.
−Removed: A small portion of the investment portfolio may also consist of common stocks in publicly traded companies.
−Removed: These investments are directly exposed to equity price risk, in that a hypothetical ten percent change in these equity prices would result
−Removed: in a similar percentage change in the fair value of these securities.
+Added: portion of our investment portfolio consists of equity investments in private companies.
+Added: Modest changes in public market equity prices
+Added: generally do not significantly impact the estimated fair value of these investments.
+Added: However, significant changes in market equity prices
+Added: can have a longer-term effect on valuations of private companies, which could affect the carrying value and the amount and timing of gains
+Added: or losses realized on these investments.
+Added: A small portion of the investment portfolio may also consist of common stocks in publicly traded
+Added: These investments are directly exposed to equity price risk, in that a hypothetical ten percent change in these equity prices
+Added: would result in a similar percentage change in the fair value of these securities.
We are classified
10 unchanged sentences
company holding numerous investments.
+Added: TableOfContents
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.