4 unchanged sentences
Foreign Currency Exchange Rates
−Removed: Approximately 15.7% of the Company's revenues for the three months ended March 31, 2022, and approximately 14.0% of the Company's revenue for the three months ended March 31, 2021, were denominated in currencies other than the U.S.
+Added: Approximately 15.2% of the Company's revenues for the six months ended June 30, 2022, and approximately 15.3% of the Company's revenue for the six months ended June 30, 2021, were denominated in currencies other than the U.S.
Dollar (USD).
The Company's financial statements are reported in USD and, accordingly, fluctuations in exchange rates will affect the translation of revenues and expenses denominated in foreign currencies into USD for purposes of reporting the Company's consolidated financial results.
−Removed: In the first quarter of 2022 and the year ended December 31, 2021, the most significant currency exchange rate exposures were to the Canadian dollar, Swiss Franc, Euro and British Pound.
−Removed: Excluding the impacts from any outstanding or future hedging transactions, a hypothetical change of 10% in average exchange rates used to translate all foreign currencies to USD would have impacted income before income taxes for the three months ended March 31, 2022, by approximately $6.7.
−Removed: Gross accumulated currency translation adjustments recorded as a separate component of shareholders’ equity were ($ 74.6 ) and ($ 66.8 ) at March 31, 2022 and 2021, respectively.
+Added: In the second quarter of 2022 and the year ended December 31, 2021, the most significant currency exchange rate exposures were to the Canadian dollar, Swiss Franc, Euro and British Pound.
+Added: Excluding the impacts from any outstanding or future hedging transactions, a hypothetical change of 10% in average exchange rates used to translate all foreign currencies to USD would have impacted income before income taxes for the six months ended June 30, 2022, by approximately $13.7.
+Added: Gross accumulated currency translation adjustments recorded as a separate component of shareholders’ equity were $( 315.7 ) and $( 23.0 ) at June 30, 2022 and 2021, respectively.
The Company does not have significant operations in countries in which the economy is considered to be highly inflationary.
3 unchanged sentences
The Company limits its foreign currency transaction risk through exchange rate fluctuation provisions stated in some of its contracts with customers, or it may hedge transaction risk with foreign currency forward contracts.
−Removed: At March 31, 2022, the Company had 27 open foreign exchange forward contracts relating to service contracts with various amounts maturing monthly through April 2022 with a notional value totaling approximately $711.0.
+Added: At June 30, 2022, the Company had 25 open foreign exchange forward contracts relating to service contracts with various amounts maturing monthly through July 2022 with a notional value totaling approximately $698.7.
At December 31, 2021, the Company had 28 open foreign exchange forward contracts relating to service contracts with various amounts maturing monthly through January 2022 with a notional value totaling approximately $600.7.
−Removed: The Company is party to US to Swiss Franc cross-currency swap agreements with an aggregate notional amount of $ 600.0 , maturing in 2022 and 2025, as a hedge against the impact of foreign exchange movements on its net investment in a Swiss Franc functional currency subsidiary.
+Added: The Company is party to U.S.
+Added: to Swiss Franc cross-currency swap agreements with an aggregate notional amount of $ 300.0 , maturing in 2024, as a hedge against the impact of foreign exchange movements on its net investment in a Swiss Franc functional currency subsidiary.
Interest Rates
5 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.