QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: Qualitative and Quantitative Disclosures About Market Risk
−Removed: We had cash, cash equivalents and short-term investments of $562.1 million at September 30, 2023, which consist primarily of money market, bank deposits, commercial paper, corporate bonds, and U.S.
+Added: We had cash, cash equivalents and short-term investments of $538.3 million as of March 31, 2024, which consisted primarily of money market funds, commercial paper, corporate bonds, and U.S.
government agency securities.
4 unchanged sentences
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.
−Removed: To minimize this risk, we intend to maintain a portfolio which may include cash, cash equivalents and short and long-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.
+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.
+Added: We also have established operations in Europe, Australia and Japan and hold cash in Swiss Francs, Euros, Australian Dollars and Japanese Yen.
+Added: We are subject to foreign exchange rate risk arising from transactions conducted in the aforementioned foreign currencies, however, our foreign operations are not currently material to our business.
+Added: We do not believe that our results of operations or our financial position would be materially affected by an immediate change of 10% in foreign currency exchange 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 a significant risk of default or illiquidity.
−Removed: While we believe our cash, cash equivalents and short-term investments do not contain excessive risk, we cannot provide absolute assurance that the investments we make in the future will not be subject to adverse changes in market value.
−Removed: Our cash, cash equivalents and short and long-term investments are recorded at fair value.
+Added: Further, we do not believe our cash, cash equivalents and short-term investments have significant risk of default or illiquidity.
+Added: 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.
+Added: Our cash, cash equivalents and short-term investments are recorded at fair value.
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.