Quantitative and Qualitative Disclosures About Market Risk
−Removed: There have been no material changes in our market risks during the quarter ended June 30, 2020 .
−Removed: As of June 30, 2020 , our cash equivalents and marketable securities consisted of investments in money market funds, U.S.
+Added: There have been no material changes in our market risks during the quarter ended September 30, 2020 .
+Added: As of September 30, 2020 , our cash equivalents and marketable securities consisted of investments in money market funds, U.S.
Treasury securities, asset-backed securities, corporate debt obligations and commercial paper.
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For example, if we purchase a security that was issued with a fixed interest rate and the prevailing interest rate later rises, the value of that security will probably decline.
−Removed: Based on our current investment portfolio as of June 30, 2020 , we do not believe that our results of operations would be materially impacted by an immediate change of 10% in interest rates.
+Added: Based on our current investment portfolio as of September 30, 2020 , we do not believe that our results of operations would be materially impacted by an immediate change of 10% in interest rates.
We do not hold or issue derivatives, derivative commodity instruments or other financial instruments for speculative trading purposes.
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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.