4 unchanged sentences
We have not historically hedged our translation risk on foreign currency exposure, but we may do so in the future.
−Removed: For the year ended December 31, 2019 , currency exchange rate fluctuations reduced our consolidated revenues by approximately $44 million and reduced our operating income by approximately $21 million compared to the prior-year period, calculated by converting revenues and operating income, respectively, for the current year, excluding revenues and operating income from current year acquisitions, in local currencies using exchange rates for the prior-year period.
+Added: For the year ended December 31, 2020, currency exchange rate fluctuations reduced our consolidated revenues by approximately $4.9 million and reduced our operating income by approximately $0.5 million compared to the prior year, calculated by converting revenues and operating income, respectively, for the current year, excluding revenues and operating income from current year acquisitions, in local currencies using exchange rates for the prior year.
Generally, the functional currency of our various subsidiaries is their local currency.
We are exposed to currency fluctuations on transactions that are not denominated in the functional currency.
−Removed: Gains and losses on such transactions are included in determining
−Removed: net income for the period.
+Added: Gains and losses on such transactions are included in determining net income for the period.
We seek to mitigate our foreign currency risk through timely settlement of transactions and cash flow matching, when possible.
18 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.