4 unchanged sentences
We are exposed to market risk for changes in interest rates related primarily to our cash and cash equivalents, marketable debt securities and our indebtedness.
−Removed: As of December 31, 2022, we had cash and cash equivalents of $141.6 million held primarily in cash deposits and money market funds.
+Added: As of December 31, 2023, we had cash and cash equivalents of $1.1 billion held primarily in cash deposits and money market funds.
Our marketable debt securities are held in U.S.
2 unchanged sentences
Our primary exposure to market risk is interest income sensitivity, which is affected by changes in the general level of the interest rates in the United States.
−Removed: As of December 31, 2022, a hypothetical 100 basis point increase in interest rates would have resulted in an approximate $4.2 million decline of the fair value of our available-for-sale securities and a hypothetical 100 basis point decrease in interest rates would have resulted in an approximate $4.2 million increase of the fair value of our available-for-sale securities.
+Added: As of December 31, 2023, a hypothetical 100 basis point increase or decrease in interest rates would have resulted in immaterial decline or increase of the fair value of our available-for-sale securities.
This estimate is based on a sensitivity model that measures market value changes when changes in interest rates occur.
7 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.