2 unchanged sentences
Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates.
−Removed: Our market risk exposure is primarily a result of foreign currency exchange rates.
+Added: Our market risk exposure is primarily a result of foreign currency exchange rates and interest rates.
+Added: There were no material changes to the information on market risk disclosure from our 2023 Form 10 - K.
+Added: Interest Rate Risk
+Added: Our investments in money market funds and short term deposits are subject to market risk due to changes in interest rates, which may affect our interest income and fair market value of our investments.
+Added: To minimize this risk, we invest in institutional investors money market funds, which consist of high-grade securities, including U.S.
+Added: treasury bonds.
+Added: Our short term deposits are redeemable upon demand and held in banks domiciled in the U.S.
+Added: and Europe, as well as in Israel.
+Added: As of March 30, 2024 and December 30, 2023, our investment in money market funds was $940 million and $932 million, respectively and our short term deposits were $226 million and $222 million, respectively.
+Added: The primary objectives of our investments in money market funds and short term deposits is to fund our cash requirements in the ordinary course of business and preserve principal.
+Added: We do not enter into investments for trading or speculative purposes.
+Added: Foreign Currency Exchange Risk
dollar is our functional currency.
3 unchanged sentences
As a result, our condensed consolidated financial statements are subject to fluctuations due to changes in exchange rates as our operating expenses, denominated in New Israeli Shekels, are remeasured from New Israeli Shekels into U.S.
+Added: We also have expenses in other currencies, in particular the Euro, the Chinese Yuan, and the Japanese Yen, although to a much lesser extent.
We have attempted to minimize foreign currency risk, primarily by entering into a hedging services agreement with Intel during 2021.
4 unchanged sentences
If the New Israeli Shekel had strengthened by 10% against the U.S.
−Removed: dollar, it would have decreased our cash flows by approximately $29 million in the nine months ended September 30, 2023.
−Removed: This exposure to U.S.
−Removed: dollar / New Israeli Shekel exchange rates results from the six months ended September 30, 2023, since in the first quarter of 2023 we were still affected by the hedging program with Intel and therefore the effect of the exchange rates would not have had a material impact on our cash flows.
+Added: dollar, it would have decreased our cash flows by approximately $17 million in the three months ended March 30, 2024.
The effect of a 10% change in the U.S.
−Removed: dollar / New Israeli Shekel exchange rate would not have had a material impact on our cash flows in the nine months ended October 1, 2022 due to our hedging services agreement with Intel.
+Added: dollar / New Israeli Shekel exchange rate would not have had a material impact on our cash flows in the three months ended April 1, 2023 since in the first quarter of 2023 we were still affected by the hedging program with Intel.
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.