4 unchanged sentences
Our investments have limited exposure to market risk.
−Removed: We maintain a portfolio of cash, cash equivalents and short-term investments, consisting primarily of money market funds and term deposits, commercial paper, corporate bonds, U.S.
−Removed: government and agency securities and term deposits.
+Added: We maintain a portfolio of cash, cash equivalents and short-term investments, consisting primarily of money market funds and term deposits, commercial paper, U.S.
+Added: government and agency securities, term deposits, and corporate bonds.
None of these investments have a maturity date in excess of one year.
5 unchanged sentences
Due to our international operations, a significant portion of our net sales, cost of sales and operating expenses are denominated in currencies other than the U.S.
−Removed: dollar, principally the Euro, the Russian ruble, and the Chinese yuan.
+Added: dollar, principally the Euro and the Chinese yuan.
Changes in the exchange rate of the U.S.
1 unchanged sentence
In addition, our subsidiaries may have assets or liabilities denominated in a currency other than their functional currency which results in foreign exchange transaction gains and losses due to changes in the value of the functional currency versus the currency the assets and liabilities are denominated in.
−Removed: In 2023 we incurred a gain on foreign exchange transactions of $1.4 million as compared to a loss of $4.1 million in 2022.
−Removed: As our Russia subsidiary has net U.S.
−Removed: dollar denominated assets, the depreciation of the Russian ruble contributed to most of the foreign exchange gain in 2023, partially offset by the loss from the appreciation of the Euro as our German subsidiary has net U.S.
−Removed: dollar denominated assets, and the loss from the depreciation of the Chinese yuan as our Chinese subsidiary has net U.S.
−Removed: dollar denominated liability.
+Added: In 2024 we incurred a loss on foreign exchange transactions of $5.5 million as compared to a gain of $1.4 million in 2023.
+Added: As our Chinese and South Korean subsidiaries have net U.S.
+Added: dollar denominated liabilities, the depreciation of the Chinese yuan and South Korean won relative to the U.S.
+Added: dollar contributed to most of the foreign exchange loss in 2024, partially offset by gain
+Added: on the depreciation of the Euro as our German subsidiary has net U.S.
+Added: dollar denominated assets.
Management attempts to minimize these exposures by partially or fully off-setting foreign currency denominated assets and liabilities at our subsidiaries that operate in different functional currencies.
4 unchanged sentences
At December 31, 2024, our material foreign currency exposure is net U.S.
−Removed: dollar denominated assets at subsidiaries where the Euro or the Russian ruble is the functional currency and U.S.
−Removed: dollar denominated liabilities where the Chinese yuan is the functional currency.
+Added: dollar denominated assets at subsidiaries where the Euro is the functional currency and U.S.
+Added: dollar denominated liabilities where the Chinese yuan and the South Korean won is the functional currency.
dollar denominated assets are comprised of cash, third party receivables and inter-company receivables offset by third party and inter-company U.S.
2 unchanged sentences
A 5% change in the relative exchange rate of the U.S.
−Removed: dollar to the Euro applied to
+Added: dollar to the Euro applied to the net U.S.
dollar asset balances as of December 31, 2024, would result in a foreign exchange gain of $1.1 million if the U.S.
2 unchanged sentences
A 5% change in the relative exchange rate of the U.S.
−Removed: dollar to the Ruble applied to the net U.S.
−Removed: dollar asset balances as of December 31, 2023, would result in a foreign exchange gain of $0.2 million if the U.S.
−Removed: dollar appreciated and a $0.2 million foreign exchange loss if the U.S.
+Added: dollar to the Chinese yuan applied to the net U.S.
+Added: dollar liability balances as of December 31, 2024, would result in a foreign exchange loss of $0.4 million if the U.S.
+Added: dollar appreciated and a $0.4 million foreign exchange gain if the U.S.
dollar depreciated.
A 5% change in the relative exchange rate of the U.S.
−Removed: dollar to the Chinese yuan applied to the net U.S.
+Added: dollar to the South Korea won applied to the net U.S.
dollar liability balances as of December 31, 2024, would result in a foreign exchange loss of $0.4 million if the U.S.
2 unchanged sentences
Volatility between the U.S.
−Removed: dollar and the currencies to which we are exposed may be increased by the COVID-19 pandemic, sanctions on the Russian government and changes in central bank policy, primarily, related to interest rates.
+Added: dollar and the currencies to which we are exposed may be increased by changes in central bank policy, primarily related to interest rates.
In addition, we are exposed to foreign currency translation risk for those subsidiaries whose functional currency is not the U.S.
2 unchanged sentences
Changes in the translated value of assets and liabilities due to changes in functional currency exchange rates relative to the U.S.
−Removed: dollar result in foreign currency translation adjustments that are a component of other comprehensive income or loss on the consolidated statements of comprehensive income.
+Added: dollar result in foreign currency translation adjustments that are a component of other comprehensive income or loss on the Consolidated Statements of Comprehensive (Loss) Income.
Foreign currency derivative instruments can also be used to hedge exposures and reduce the risks of certain foreign currency transactions;
9 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.