4 unchanged sentences
We transact business in various foreign currencies other than the U.S.
−Removed: dollar, principally the Euro, British pound sterling, Canadian dollar, Indian Rupee, Polish Zloty, Swiss Franc, and, to a lesser extent, Australian dollar, which exposes us to foreign currency risk.
+Added: dollar, principally the Euro, British pound sterling, Canadian dollar, Indian Rupee, Polish Zloty, Czech Koruna, and, to a lesser extent, Swiss Franc and Australian dollar, which exposes us to foreign currency risk.
For the year ended December 31, 2024, we derived approximately 23.6% of our revenue from our International segment.
8 unchanged sentences
dollar against those currency exposures as of December 31, 2024 and 2023.
−Removed: As of December 31, 2023, our net working capital deficit (defined as current assets less current liabilities) from subsidiaries that are subject to foreign currency translation risk was $21.7 million.
−Removed: The potential increase in this working capital deficit from a hypothetical 10% adverse change in quoted foreign currency exchange rates would be $2.2 million.
+Added: As of December 31, 2024, our net working capital surplus (defined as current assets less current liabilities) from subsidiaries that are subject to foreign currency translation risk was $8.3 million.
+Added: The potential increase in this working capital surplus from a hypothetical 10% adverse change in quoted foreign currency exchange rates would be $0.8 million.
This compares with a $21.7 million working capital deficit subject to foreign currency exposure as of December 31, 2023, for which a 10% adverse change would have resulted in a potential increase in this working capital deficit of $2.2 million.
1 unchanged sentence
Our cash balance as of December 31, 2024 consists of bank deposits so exposure to market risk for changes in interest rates is limited.
−Removed: The 2026 Notes have an aggregate principal amount of $230.0 million (see Item 8, Note 7, Financing Arrangements ) and 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 2026 Notes along with other variables such as our credit spreads and the market price and volatility of our Common Stock.
−Removed: Our Credit Agreement provided for aggregate principal borrowings of up to $75.0 million.
−Removed: As of December 31, 2023, we had $42.8 million of borrowings outstanding and $25.2 million of outstanding letters of credit under the Credit Agreement.
−Removed: See Item 7, Liquidity and Capital Resources, for additional information.
−Removed: Because borrowings under the Credit Agreement bear interest at a variable rate, we are exposed to market risk relating to changes in interest rates if we borrow under the Credit Agreement.
−Removed: We have $9.5 million of lease obligations as of December 31, 2023.
−Removed: Interest rates on existing leases typically do not change unless there is a modification to a lease agreement and, as such, we do not believe that the interest rate risk on the lease obligations is significant.
+Added: The 2026 Notes and 2027 Notes have an aggregate principal amount of $53.7 million and $197.3 million, respectively, and 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 and 2027 Notes along with other variables such as our credit spreads and the market price and volatility of our Common Stock.
+Added: See Item 8, Note 7, Financing Arrangements, for additional information.
Inflation Risk
−Removed: In light of the current inflationary environment, our business is being affected by changes to our merchants' and customers' discretionary spend.
+Added: Our business is affected by changes to our merchants' and customers' discretionary spend.
We expect such discretionary spend limitations to continue, and if we do not see increased overall demand for discounted goods and services to help offset these limitations on individual merchants and customers, our business, financial condition and results of operations could be adversely impacted.
−Removed: Additionally, increased inflation could negatively impact our business by driving up our operating costs.
+Added: Additionally, periods of increased inflation could negatively impact our business by driving up our operating costs.
Our costs are subject to inflationary pressures, and if those pressures become significant, we may not be able to offset such higher costs through price increases or other cost efficiency measures.
1 unchanged sentence
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.