7 unchanged sentences
Our objective is to reduce earnings and cash flow volatility associated with foreign currency exchange rate movements.
−Removed: Accordingly, we enter into foreign currency forward contracts to hedge certain forecasted foreign currency cash flows related to service contracts and to hedge non-United States dollar anticipated intercompany reseller fees.
+Added: Accordingly, we enter into foreign currency forward contracts to hedge certain forecasted foreign currency cash flows related to service contracts.
It is our policy to enter into foreign currency transactions only to the extent necessary to meet our objectives as stated above.
We do not enter into foreign currency transactions for investment or speculative purposes.
−Removed: The principal currencies hedged in 2020 were the British Pound and the Japanese Yen.
−Removed: The contractual value of our foreign exchange derivative instruments, all of which were foreign exchange forward contracts, was approximately $70 million at December 31, 2020.
+Added: The principal currency hedged in 2021 was the British Pound.
+Added: The contractual value of our foreign exchange derivative instruments, all of which were foreign exchange forward contracts, was approximately $110 million as of December 31, 2021.
The fair value of these contracts is subject to change as a result of potential changes in foreign exchange rates.
1 unchanged sentence
The sensitivity analysis measures the potential gain or loss in fair values based on a hypothetical 10% change in foreign currency exchange rates.
−Removed: The potential gain in fair value for foreign exchange forward contracts based on a hypothetical 10% decrease in the value of the United States dollar was $7 million at December 31, 2020.
−Removed: However, the change in the fair value of the foreign exchange forward contracts would likely be offset by a change in the value of the future service contract revenue or reseller fee being
−Removed: hedged caused by the currency exchange rate fluctuation.
+Added: The potential gain in fair value for foreign exchange forward contracts based on a hypothetical 10% decrease in the value of the United States dollar was $11 million as of December 31, 2021.
+Added: However, the change in the fair value of the foreign exchange forward contracts would likely be offset by a change in the value of the future service contract revenue being hedged caused by the currency exchange rate fluctuation.
The estimated fair values of the foreign exchange forward contracts were determined based on quoted market prices.
15 unchanged sentences
Marketable Securities
−Removed: At December 31, 2020, we held investments in marketable equity securities.
+Added: As of December 31, 2021, we held investments in marketable equity securities.
These investments are classified as either trading securities or available-for-sale securities and are recorded at fair value.
1 unchanged sentence
As of December 31, 2021, the fair value of these investments was $145 million based on the quoted market value of the securities.
−Removed: The potential loss in fair value resulting from a hypothetical decrease of 10% in quoted market values was approximately $9 million at December 31, 2020.
+Added: The potential loss in fair value resulting from a hypothetical decrease of 10% in quoted market values was approximately $15 million as of December 31, 2021.
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.