8 unchanged sentences
As a result of the fluctuation in exchange rates compared to the U.S.
−Removed: dollar our revenue was $21.8 million lower in the first quarter of 2024 in comparison to the first quarter of 2023.
+Added: dollar our revenue was $43.9 million lower in the first two quarters of 2024 in comparison to the first two quarters of 2023.
Foreign currency exchange differences which arise on translation of our international subsidiaries' balance sheets into U.S.
7 unchanged sentences
We also hold cash and cash equivalents and other monetary assets in currencies that are different to the functional currency of our subsidiaries.
−Removed: As of April 28, 2024, we had certain forward currency contracts outstanding in order to economically hedge the foreign currency revaluation gains and losses recognized by our foreign subsidiaries, including our Canadian and Chinese subsidiaries, on their monetary assets and liabilities denominated in currencies other than their functional currency.
+Added: As of July 28, 2024, we had certain forward currency contracts outstanding in order to economically hedge the foreign currency revaluation gains and losses recognized by our foreign subsidiaries, including our Canadian and Chinese subsidiaries, on their monetary assets and liabilities denominated in currencies other than their functional currency.
We perform a sensitivity analysis to determine the market risk exposure associated with the fair values of our forward currency contracts.
−Removed: The net fair value of outstanding derivatives as of April 28, 2024 was an asset of $2.7 million.
−Removed: As of April 28, 2024, a 10% depreciation in the U.S.
+Added: The net fair value of outstanding derivatives as of July 28, 2024 was an asset of $0.1 million.
+Added: As of July 28, 2024, a 10% depreciation in the U.S.
dollar against the hedged currencies would have resulted in the net fair value of outstanding derivatives depreciating by $21.5 million.
7 unchanged sentences
Because our revolving credit facilities bear interest at a variable rate, we will be exposed to market risks relating to changes in interest rates, if we have a meaningful outstanding balance.
−Removed: As of April 28, 2024, aside from letters of credit of $6.3 million, there were no borrowings outstanding under these credit facilities.
+Added: As of July 28, 2024, aside from letters of credit of $6.3 million, there were no borrowings outstanding under these credit facilities.
We currently do not engage in any interest rate hedging activity and currently have no intention to do so.
3 unchanged sentences
Our cash and cash equivalent balances are held in the form of cash on hand, bank balances, and short-term deposits with original maturities of three months or less, and in money market funds.
−Removed: As of April 28, 2024, we held cash and cash equivalents of $1.9 billion.
+Added: As of July 28, 2024, we held cash and cash equivalents of $1.6 billion.
Interest generated on cash balances is subject to variability as interest rates increase or decrease.
11 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.