5 unchanged sentences
The functional currency of our foreign subsidiaries is the U.S.
−Removed: The majority of our sales is derived in U.S.
+Added: The majority of our sales are derived in U.S.
Our operating expenses incurred by our foreign subsidiaries are denominated in their respective local currencies, and remeasured at the exchange rates in effect on the transaction date.
5 unchanged sentences
Gains or losses on these contracts are generally recognized in income at the time the related transactions being hedged are recognized.
+Added: As of December 31, 2023, the total notional amount of outstanding designated foreign currency forward contracts was $55.8 million.
+Added: The fair value of derivative assets and liabilities as of December 31, 2023, and all related unrealized and realized gains and losses during the year ended December 31, 2023 were not material.
We do not use foreign exchange contracts for speculative trading purposes and we may enter into other hedging transactions in the future if our exposure to foreign currency becomes more significant.
2 unchanged sentences
Our cash, cash equivalents, and marketable securities primarily consist of deposits held at financial institutions, highly liquid money market funds, and investments in U.S.
−Removed: government securities, corporate bonds, commercial paper, and mutual funds.
+Added: treasury securities, U.S.
+Added: government agency securities, corporate bonds
+Added: and commercial paper.
We had cash and cash equivalents of $488.1 million and marketable securities of $699.5 million as of December 31, 2023.
We do not enter into investments for trading and speculative purposes.
+Added: The carrying amount of our cash equivalents reasonably approximate fair value, due to the maturities of three months or less of these instruments.
Our investments are subject to market risk due to changes in interest rates, which may affect our interest income and the fair value of our investments.
4 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.