1 unchanged sentence
Qualitative and Quantitative Disclosures About Market Risk
−Removed: We had cash, cash equivalents and short-term investments of $286.4 million at September 30, 2020, which consist primarily of money market, bank deposits, U.S.
−Removed: Treasury bills and certificates of deposit.
+Added: We had cash, cash equivalents and short-term investments of $403.4 million at March 31, 2021, which consist primarily of money market, bank deposits and certificates of deposit.
The investments in these financial instruments are made in accordance with an investment policy which specifies the categories, allocations and ratings of securities we may consider for investment.
2 unchanged sentences
This means that a change in prevailing interest rates may cause the value of the instruments to fluctuate.
−Removed: For example, if we purchase a security that was issued with a fixed interest rate and the prevailing interest rate later rises, the value of that security will likely decline.
−Removed: To minimize this risk, we intend to maintain a portfolio which may include cash, cash equivalents and investment securities available-for-sale in a variety of securities which may include money market funds, government and non-government debt securities and commercial paper, all with various maturity dates.
+Added: For example, if we purchase a security that was issued with a fixed interest rate and the prevailing interest rate later rises, the value of that security will probably decline.
+Added: To minimize this risk, we intend to maintain a portfolio which may include cash, cash equivalents and short-term investment securities available-for-sale in a variety of securities which may include money market funds, government and non-government debt securities and commercial paper, all with various maturity dates.
Based on our current investment portfolio, we do not believe that our results of operations or our financial position would be materially affected by an immediate change of 10% in interest rates.
We do not hold or issue derivatives, derivative commodity instruments or other financial instruments for speculative trading purposes.
−Removed: Further, we do not believe our cash, cash equivalents and short-term investments have significant risk of default or illiquidity.
+Added: Further, we do not believe our cash, cash equivalents and short-term investments has significant risk of default or illiquidity.
While we believe our cash, cash equivalents and short-term investments do not contain excessive risk, we cannot provide absolute assurance that any investments we make in the future will not be subject to adverse changes in market value.
1 unchanged sentence
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.