1 unchanged sentence
Impact of inflation.
−Removed: We believe that inflation has not had a material impact on our results of operations for the three months ended March 31, 2020 or 2019.
+Added: We believe that inflation has not had a material impact on our results of operations for the six months ended June 30, 2020 or 2019.
There can be no assurance that future inflation will not have an adverse impact on our operating results and financial condition.
Market risk .
−Removed: As of March 31, 2020, we have no derivative financial instruments or derivative commodity instruments.
+Added: As of June 30, 2020, we have no derivative financial instruments or derivative commodity instruments.
We invest cash in excess of current operating requirements in short-term certificates of deposit and money market instruments, municipal bond portfolios, or municipal mutual funds at multiple financial institutions.
2 unchanged sentences
Our future investment income may fall short of expectations due to changes in interest rates or we may suffer losses in principal if we are forced to sell securities before their maturity date that have declined in market value due to changes in interest rates.
−Removed: At March 31, 2020, a 10% increase or decrease in interest rates would not have a material impact on our future earnings, fair values, or cash flows.
+Added: At June 30, 2020, a 10% increase or decrease in interest rates would not have a material impact on our future earnings, fair values, or cash flows.
For information regarding our variable rate debt, see “Market risk” above.
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.