5 unchanged sentences
We operate on a global basis and are exposed to the risk that changes in foreign currency exchange rates could adversely affect our financial condition, results of operations and cash flows.
−Removed: We are primarily exposed to foreign currency exchange rate risk with respect to transactions and net assets denominated in Euros, British pounds, Swiss francs, Canadian dollars, Japanese yen, Mexican pesos, Brazilian reais, Australian dollars and Chinese yuan.
+Added: We are primarily exposed to foreign currency exchange rate risk with respect to transactions and net assets denominated in Euros, British pounds, Swiss francs, Canadian dollars, Japanese yen, Israeli shekel, Australian dollars and Chinese yuan.
We manage the foreign currency exposure centrally, on a combined basis, which allows us to net exposures and to take advantage of any natural offsets.
3 unchanged sentences
As a result, the impact of foreign currency gains/losses recognized in earnings are partially offset by gains/losses on the related foreign currency forward exchange contracts in the same reporting period.
−Removed: Refer to Note 6, Derivative Instruments , to the Notes to Consolidated Financial Statements (Part IV, Item 15 of this Annual Report on Form 10-K) for additional information.
+Added: Refer to Note 6.
+Added: Derivative Instruments , to the Notes to Consolidated Financial Statements (Part IV, Item 15 of this Annual Report on Form 10-K) for additional information.
We maintain written policies and procedures governing our risk management activities.
4 unchanged sentences
Cash and Cash Equivalents - We are exposed to the risk of interest rate fluctuations on the interest income earned on our cash and cash equivalents.
−Removed: A hypothetical 100 basis points movement in interest rates applicable to our cash and cash equivalents outstanding at December 31, 2023 would increase interest income by approximately $2.8 million on an annual basis.
−Removed: No significant decrease in interest income would be expected as our cash balances are earning interest at rates of approximately one basis points.
+Added: A hypothetical 100 basis points increase or decrease in interest rates applicable to our cash and cash equivalents outstanding at December 31, 2024 would impact the Company by approximately $2.5 million on an annual basis.
We are subject to foreign currency exchange risk with respect to cash balances maintained in foreign currencies.
1 unchanged sentence
A hypothetical 100 basis points movement in interest rates applicable to our short-term investments outstanding at December 31, 2024 would increase or decrease interest income by approximately $0.3 million on an annual basis.
−Removed: Debt - The Company’s interest rate risk relates to U.S.
−Removed: dollar denominated variable interest rate borrowings.
−Removed: The Company uses interest rate swap derivative instruments to manage earnings and cash flow exposure resulting from changes in interest rates.
−Removed: These interest rate swaps apply a fixed interest rate on a portion of the Company's expected SOFR-indexed borrowings.
−Removed: In connection with the March 2023 Amendment to the Senior Credit Facility, the Company amended its interest rate from LIBOR to SOFR-indexed interest.
−Removed: In March 2023, the Company entered into a basis swap where the Company receives Term SOFR and pays daily compounded SOFR to convert the portfolio of swaps from daily compounded SOFR to term SOFR.
−Removed: See Note 6, Derivative Instruments to the Notes to Consolidated Financial Statements (Part IV, Item 15 of this Annual Report on Form 10-K) for a detail of current interest rate swap derivative instruments.
+Added: Debt - Our interest rate risk relates primarily to U.S.
+Added: dollar SOFR-indexed borrowings.
+Added: We use interest rate swap derivative instruments to manage our earnings and cash flow exposure to changes in interest rates.
+Added: These interest rate swaps fix the interest rate on a portion of our expected SOFR-indexed floating-rate borrowings.
These interest rate swaps were designated as cash flow hedges as of December 31, 2024.
−Removed: The total notional amounts related to the Company’s interest rate swaps were $1.5 billion with $0.8 billion effective as of December 31, 2023.
+Added: The total notional amounts related to the Company’s interest rate swaps were $1.1 billion with $425.0 million effective as of December 31, 2024.
Based on our outstanding borrowings at December 31, 2024, a 100 basis points change in interest rates would have impacted interest expense on the unhedged portion of the debt by $8.1 million on an annualized basis.
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.