12 unchanged sentences
The purpose of the hedging activities is to minimize the effect of foreign
−Removed: exchange rate movements on the receivables and cash flows of Interparfums SA, our French subsidiary, whose functional currency
−Removed: All foreign currency contracts are denominated in currencies of major industrial countries and are with large financial
−Removed: institutions, which are rated as strong investment grade .
+Added: exchange rate movements on the receivables and cash flows of Interparfums SA, whose functional currency is the euro.
+Added: currency contracts are denominated in currencies of major industrial countries and are with large financial institutions, which
+Added: are rated as strong investment grade .
All derivative instruments are required
11 unchanged sentences
Any hedge ineffectiveness is recognized in the income statement.
−Removed: At December 31, 2019, we had foreign
+Added: As of December 31, 2020, we had foreign
currency contracts in the form of forward exchange contracts with notional amounts of approximately U.S.
−Removed: $18.5 million, GB £2.7 million
−Removed: and JPY ¥105.0 million which all have maturities of less than one year.
−Removed: We believe that our risk of loss as the result of nonperformance
−Removed: by any of such financial institutions is remote.
+Added: $22.4 million and GB £1.9
+Added: million which all have maturities of less than one year.
+Added: We believe that our risk of loss as the result of nonperformance by any
+Added: of such financial institutions is remote.
Interest Rate Risk Management
2 unchanged sentences
debt should be swapped for fixed rate debt.
−Removed: We entered into an interest rate swap in June 2015 on €100 million of debt, effectively
−Removed: exchanging the variable interest rate to a fixed rate of approximately 1.2%.
−Removed: This derivative instrument is recorded at fair value
−Removed: and changes in fair value are reflected in the accompanying consolidated statements of income.
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.