8 unchanged sentences
We use the USD as our reporting currency.
−Removed: We derived almost entirely all of our revenues from students outside of the United States for the year ended December 31, 2020.
+Added: We derived substantially all of our revenues outside of the United States for the year ended December 31, 2021.
Our business is transacted through a network of international and domestic subsidiaries, generally in the local currency, considered the functional currency for that subsidiary.
2 unchanged sentences
These adjustments are recorded in accumulated other comprehensive income (loss) on our consolidated balance sheets.
−Removed: • Gains and losses resulting from foreign currency exchange rate changes related to intercompany loans that are deemed to have the characteristics of a long-term investment.
−Removed: These gains and losses are recorded in accumulated other comprehensive income (loss) on our consolidated balance sheets.
• Gains and losses resulting from foreign currency exchange rate changes related to intercompany loans that are not deemed to have the characteristics of a long-term investment.
2 unchanged sentences
These gains and losses are recorded in foreign currency exchange gain (loss) on our consolidated statements of operations.
−Removed: For the year ended December 31, 2020, a hypothetical 10% adverse change in average annual foreign currency exchange rates, excluding the impacts of our derivatives, would have increased Operating loss and decreased Adjusted EBITDA by approximately $8.6 million and $31.8 million, respectively.
+Added: For the year ended December 31, 2021, a hypothetical 10% adverse change in average annual foreign currency exchange rates would have increased Operating loss and decreased Adjusted EBITDA by approximately $21.9 million and $36.6 million, respectively.
We monitor the impact of foreign currency movements related to differences between our subsidiaries' local currencies and the USD.
3 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.