QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: We are exposed to
−Removed: a variety of market and other risks, including the effects of changes in interest rates and inflation, as well as risks to the
−Removed: availability of funding sources, hazard events and specific asset risks.
−Removed: Interest Rate
−Removed: hold cash and cash equivalents for working capital purposes.
−Removed: As of December 31, 2020, we had a cash balance of $389.7 million,
−Removed: consisting of operating and money market accounts which, are not affected by changes in the general level of U.S.
+Added: We are exposed to a variety of market and other risks, including the effects of changes in interest rates and inflation, as well as risks to the availability of funding sources, hazard events and specific asset risks.
+Added: Interest Rate Risk
+Added: We hold cash and cash equivalents for working capital purposes.
+Added: As of December 31, 2021, we had a cash balan ce of $258.4 million, consisting of operating and money market accounts which, are not affected by changes in the general level of U.S.
interest rates.
−Removed: We do not have material exposure to interest rate risk with respect to cash and cash equivalents as these are all highly liquid
−Removed: investments with a maturity date of 90 days or less at the time of purchase.
+Added: We do not have material exposure to interest rate risk with respect to cash and cash equivalents as these are all highly liquid investments with a maturity date of 90 days or less at the time of purchase.
+Added: A hypothetical change in prevailing interest rates of 10 basis points would have increased or decreased our unrealized gain or loss on our short-term and long-term investments for the years ended December 31, 2021 and 2020 by $0.1 million and $0.1 million, respectively.
Inflation Risk
−Removed: We do not believe
−Removed: that inflation currently has a material effect on its business.
−Removed: Inflation may become a greater risk in the event of changes in
−Removed: current economic and governmental fiscal policy.
+Added: We do not believe that inflation currently has a material effect on our business.
+Added: Inflation may become a greater risk in the event of changes in current economic and governmental fiscal policy.
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.