3 unchanged sentences
We do not currently use or plan to use financial derivatives in our investment portfolio.
−Removed: The interest rate for our outstanding debt is variable.
−Removed: A hypothetical 1% change in interest rates during any of the periods presented would not have had a material impact on our consolidated financial statements.
−Removed: As of December 31, 2021 and 2020, our cash, cash equivalents, and investments were maintained with two financial institutions in the U.S.
−Removed: We believe these institutions have sufficient assets and liquidity to conduct their operations in the ordinary course of business with little or no credit risk to us, however our cash balances were in excess of insured limits.
+Added: A hypothetical 1% change in interest rates during 2022 would have impacted interest and dividend income on our consolidated financial statements by approximately $2.4 million.
+Added: As of December 31, 2022 and 2021, our cash, cash equivalents, and investments were maintained with financial institutions which we believe have sufficient assets and liquidity to conduct their operations in the ordinary course of business with little or no credit risk to us, however our cash balances were in excess of insured limits.
The primary objective of our investment activities is to preserve our capital for the purpose of funding operations while at the same time maximizing the income we receive from our investments without significantly increasing risk or decreasing availability.
−Removed: To achieve these objectives, our investment policy allows us to maintain a portfolio
−Removed: of certain types of debt securities issued by the U.S.
+Added: To achieve these objectives, our investment policy allows us to maintain a portfolio of certain types of debt securities issued by the U.S.
government and its agencies, corporations with investment-grade credit ratings, or commercial paper and money market funds issued by the highest quality financial and non-financial companies.
We place restrictions on maturities and concentration by type and issuer.
−Removed: We are exposed to credit risk in the event of a default by the issuers of these securities to the extent recorded on the balance sheets.
+Added: We are exposed to credit risk in the event of a default by the issuers of these securities to the extent recorded on the consolidated balance sheets.
See Note 2 to our financial statements contained in this Annual Report on Form 10-K for additional information on our cash equivalents and available-for-sale marketable securities.
1 unchanged sentence
and Europe, primarily in Germany.
+Added: We believe that the credit risk in our accounts receivable is mitigated by our credit evaluation process, relatively short collection terms, and dispersion of our customer base.
+Added: We generally do not require collateral, and losses on accounts receivable have historically not been significant.
No single customer represented more than 10% of our accounts receivable as of December 31, 2022 or 2021.
6 unchanged sentences
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.