Quantitative and Qualitative Disclosures About Market Risk
−Removed: As of June 30, 2022, we were exposed to market risks associated with foreign currency exchange rates.
+Added: As of September 30, 2022, we were exposed to market risks associated with foreign currency exchange rates.
We had no exposure to interest rate risk as we had no outstanding debt subject to floating rates.
6 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, 2022, we recorded foreign currency translation losses of $46.5 million to accumulated other comprehensive loss.
+Added: For the nine-month period ended September 30, 2022, we recorded foreign currency translation losses of $79.9 million to accumulated other comprehensive loss.
Deferred taxes have not been provided on foreign currency translation adjustments as our non-U.S.
undistributed earnings are 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.” 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 three- and six-month periods ended June 30, 2022, we recorded foreign currency transaction losses of $13.5 million and $17.4 million, respectively, 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 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 expense, net.” For the three- and nine-month periods ended September 30, 2022, we recorded foreign currency losses of $20.3 million and $37.6 million, respectively, primarily related to U.S.
+Added: dollar denominated intercompany debt in our 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.