15 unchanged sentences
dollar against those currency exposures as of December 31, 2021 and 2020.
−Removed: As of December 31, 2020, our net working capital surplus (defined as current assets less current liabilities) from subsidiaries that are subject to foreign currency translation risk was $11.4 million.
−Removed: The potential increase in this working capital surplus from a hypothetical 10% adverse change in quoted foreign currency exchange rates would be $1.1 million.
−Removed: This compares to a $69.2 million working capital deficit subject to foreign currency exposure as of December 31, 2019, for which a 10% adverse change would have resulted in a potential increase in this working capital deficit of $6.9 million.
+Added: As of December 31, 2021, our net working capital deficit (defined as current assets less current liabilities) from subsidiaries that are subject to foreign currency translation risk was $69.2 million.
+Added: The potential increase in this working capital deficit from a hypothetical 10% adverse change in quoted foreign currency exchange rates would be $6.9 million.
+Added: This compares with an $11.4 million working capital surplus subject to foreign currency exposure as of December 31, 2020, for which a 10% adverse change would have resulted in a potential increase in this working capital surplus of $1.1 million.
Interest Rate Risk
Our cash balance as of December 31, 2021 consists of bank deposits and government money market funds, so exposure to market risk for changes in interest rates is limited.
−Removed: In April 2016, we issued convertible notes with an aggregate principal amount of $250.0 million (see Item 8, Note 10, Financing Arrangements ).
−Removed: The convertible notes bear interest at a fixed rate, so we have no financial statement impact from changes in interest rates.
−Removed: However, changes in market interest rates impact the fair value of the convertible notes along with other variables such as our credit spreads and the market price and volatility of our common stock.
−Removed: In June 2020, we entered into the Amended Credit Agreement which provides for aggregate principal borrowings of up to $225.0 million.
+Added: In March and April 2021, we issued the 2026 Notes with an aggregate principal amount of $230.0 million (see Item 8, Note 8, Financing Arrangements ).
+Added: The 2026 Notes bear interest at a fixed rate, so we have no financial statement impact from changes in interest rates.
+Added: However, changes in market interest rates impact the fair value of the 2026 Notes along with other variables such as our credit spreads and the market price and volatility of our common stock.
+Added: Our Amended Credit Agreement provides for aggregate principal borrowings of up to $225.0 million.
As of December 31, 2021, we had $100.0 million of borrowings outstanding and $25.8 million of outstanding letters of credit under the Amended Credit Agreement.
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Impact of Inflation
−Removed: We believe that our results of operations are not materially impacted by moderate changes in the inflation rate.
+Added: Our results of operations have not been materially impacted by moderate changes in the inflation rate.
Inflation and changing prices did not have a material effect on our business, financial condition or results of operations for the year ended December 31, 2021.
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.