Quantitative and Qualitative Disclosures About Market Risk
−Removed: As of June 30, 2021, we were exposed to market risks associated with interest rates and foreign currency exchange rates.
−Removed: Interest Rate Risk.
−Removed: As of June 30, 2021, $28.0 million of our outstanding debt was subject to floating rates.
−Removed: The interest rate applicable to our variable rate debt may rise, thereby increasing our interest expense and related cash outlay.
−Removed: The impact of interest rate risk is estimated using a hypothetical increase in interest rates by 100 basis points for our variable rate long-term debt that is not hedged.
−Removed: Based on this hypothetical assumption, we would have incurred an additional $0.2 million in interest expense for the six-month period ended June 30, 2021.
+Added: As of September 30, 2021, we were exposed to market risks associated with foreign currency exchange rates.
+Added: We had no exposure to interest rate risk as we had no outstanding debt subject to floating rates.
Foreign Currency Exchange Rate Risk.
5 unchanged sentences
dollar as their functional currency are translated using the exchange rates in effect at the balance sheet date, resulting in translation adjustments that are reflected in “Accumulated other comprehensive loss” in the shareholders’ equity section of our condensed consolidated balance sheets.
−Removed: For the six-month period ended June 30, 2021, we recorded foreign currency translation gains of $7.0 million to accumulated other comprehensive loss.
+Added: For the nine-month period ended September 30, 2021, we recorded foreign currency translation losses of $6.5 million to accumulated other comprehensive loss.
Deferred taxes have not been provided on foreign currency translation adjustments since we consider our undistributed earnings (when applicable) of our non-U.S.
1 unchanged sentence
to be permanently reinvested.
−Removed: When currencies other than the functional currency are to be paid or received, the resulting transaction gain or loss associated with changes in the applicable foreign currency exchange rate is recognized in the condensed consolidated statements of operations as a component of “Other income (expense), net.” For the six-month period ended June 30, 2021, we recorded foreign currency transaction gains of $2.5 million, primarily related to our subsidiaries in the U.K.
+Added: When currencies other than the functional currency are to be paid or received, the resulting transaction gain or loss associated with changes in the applicable foreign currency exchange rate is recognized in the condensed consolidated statements of operations as a component of “Other income (expense), net.” Foreign currency gains or losses from the remeasurement of monetary assets and liabilities as well as unsettled foreign currency transactions, including intercompany transactions that are not of a long-term investment nature, are also recognized as a component of “Other income (expense), net.” For the nine-month period ended September 30, 2021, we recorded foreign currency transaction losses of $1.5 million, primarily related to our subsidiaries in the U.K.
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.