QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: Our business is conducted principally in the United States.
+Added: Our business is conducted principally in the U.S.
However, due to the MRC acquisition in 2023, the Company now has more exposure to fluctuations in foreign currencies.
4 unchanged sentences
As the geographical scope of our business broadens, we may engage in additional foreign currency hedging transactions in the future.
+Added: The Company has not entered into any foreign currency hedging transactions during the year ended December 31, 2024.
Interest Rates
−Removed: Our exposure to risk for changes in interest rates relates primarily to borrowings under the Amended Credit Agreement (which includes Term Loans A and B as well as our existing Line of Credit), and our investments in short-term financial instruments.
−Removed: As of December 31, 2023, the Company had $20,125 outstanding on the Term Loans and $0 under its existing Line of Credit.
−Removed: Investments of our existing cash balances in both fixed-rate and floating-rate interest-earning instruments carry some interest rate risk.
+Added: Our exposure to risk for changes in interest rates relates primarily to borrowings under the Amended Credit Agreement (which includes the Term Loans as well as our Line of Credit), and our investments in short-term financial instruments.
+Added: As of December 31, 2024, the Company had $13,125 outstanding on the Term Loans and $0 under its Line of Credit.
+Added: Investments of our cash balances in both fixed-rate and floating-rate interest-earning instruments carry some interest rate risk.
The fair value of fixed-rate securities may fall due to a rise in interest rates, while floating-rate securities may produce less income than expected if interest rates fall.
1 unchanged sentence
However, as substantially all of our cash equivalents consist of bank deposits and short-term money market instruments, we do not expect any material change with respect to our net income as a result of an interest rate change.
+Added: FINANCIAL STATEMENTS
+Added: The information required hereunder in this Annual Report is set forth in the financial statements and the notes thereto beginning on Page F-1.
+Added: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
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.