1 unchanged sentence
We are exposed to certain market risks in the ordinary course of our business.
−Removed: Our market risk exposure is primarily the result of fluctuations in foreign currency exchange and interest rates.
+Added: These risks primarily include interest rate and currency exchange risks as follows:
Interest Rate Risk
−Removed: We had cash, cash equivalents, and marketable securities of $1,056.8 million, as of December 31, 2021, which consisted of bank deposits, money market funds, corporate notes and bonds, commercial paper, U.S.
−Removed: Treasury securities, and asset-backed securities.
+Added: We had cash, cash equivalents, and marketable securities of $683.1 million, as of December 31, 2022 which primarily consisted of bank deposits, money market funds, investment-grade commercial paper, corporate notes and bonds, U.S.
+Added: treasury securities, foreign government and supranational securities and asset-backed securities held at major financial institutions.
The cash and cash equivalents are held for working capital purposes.
−Removed: Such interest-earning instruments carry a degree of interest rate risk.
+Added: The restricted cash is held as cash collateral in connection with our existing lease arrangements.
To date, fluctuations in interest income have not been significant.
4 unchanged sentences
Currency Exchange Risks
−Removed: Our sales contracts are primarily denominated in U.S.
−Removed: dollars, and therefore a majority of our revenue is not subject to foreign currency revaluation.
−Removed: However, this could make our products and services more expensive to our foreign customers as rates fluctuate.
The functional currency of our foreign subsidiaries is the U.S.
Therefore, we are exposed to foreign exchange rate fluctuations as we convert the financial statements of our foreign subsidiaries into U.S.
−Removed: The local currencies of our foreign subsidiaries are the Australian dollar, British pound, Euros, Japanese Yen, and Swedish kroner.
−Removed: Our subsidiaries remeasure monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates.
+Added: Our foreign subsidiaries remeasure monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates.
Revenue and expense accounts are remeasured at the average exchange rate in effect during the period.
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.