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In addition, we maintain significant amounts of cash and cash equivalents at one or more financial institutions that are in excess of federally insured limits.
−Removed: Given the potential instability of financial institutions, we cannot provide assurance that we will not experience losses on these deposits.
+Added: potential instability of financial institutions, we cannot provide assurance that we will not experience losses on these deposits.
Our convertible senior notes bear interest at a fixed rate and therefore have minimal exposure to changes in interest rates;
however, because these interest rates are fixed, we may be paying a higher interest rate, relative to market, in the future if our credit rating improves or other circumstances change.
−Removed: We are exposed to market risks related to fluctuations in interest rates relating to our four-year secured $500.0 million Revolving Credit Facility.
+Added: We are exposed to market risks related to fluctuations in interest rates relating to our secured $550.0 million Revolving Credit Facility.
The increase or decrease in annual interest expense resulting from a 10% increase or decrease in the applicable interest rate is $2.8 million.
Equity Price Risk
−Removed: Our convertible notes include conversion and settlement provisions that are based on the price of our Class A Common Stock at conversion or maturity of the notes.
+Added: Our convertible senior notes include conversion and settlement provisions that are based on the price of our Class A Common Stock at conversion or maturity of the notes.
The amount of cash we may be required to pay is determined by the price of our Class A Common Stock.
−Removed: The fair values of our convertible notes are dependent on the price and volatility of our Class A Common Stock and will generally increase or decrease as the market price of our common stock changes.
−Removed: To minimize the impact of potential dilution to our common stock upon conversion of the notes, we entered into the Convertible Note Hedges and Note Hedge Warrants, with respect to the 2022 Convertible Notes, and the Capped Calls, with respect to the 2024 Convertible Notes and 2026 Convertible Notes.
−Removed: The Convertible Note Hedges and Note Hedge Warrants terminated unexercised upon expiry in June 2022 and April 2023, respectively.
−Removed: The convertible notes and derivatives are more fully described in Note 10, Debt , in the accompanying notes to our consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K.
+Added: The fair value of our convertible senior notes is dependent on the price and volatility of our Class A Common Stock and will generally increase or decrease as the market price of our common stock changes.
+Added: To minimize the impact of potential dilution to our common stock upon conversion of the notes, we entered into the Capped Calls with respect to the 2026 Convertible Notes.
+Added: The convertible senior notes and Capped Calls are more fully described in Note 10, Debt , in the accompanying notes to our consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K.
Foreign Currency Risk
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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.