What changed 10-K

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

2022-02-23 compared with 2021-02-26 · 2 added, 1 removed, 7 unchanged (30% of the section changed)

3 unchanged sentences

The Company is exposed to market risk related to changes in interest rates and market pricing impacting our investment portfolio.

Its current investment policy is to maintain an investment portfolio consisting of municipal bonds, United States money market securities, and high-grade corporate securities, directly or through managed funds.

Its current investment policy is to maintain an investment portfolio consisting of municipal bonds and United States money market securities directly or through managed funds.

Its cash is deposited in and invested through highly rated financial institutions in North America.

1 unchanged sentence

If market interest rates were to increase and market pricing were to decrease immediately and uniformly by 10% from levels at December 31, 2021, the Company estimates that the fair value of its investment portfolio would decline by an immaterial amount and therefore it would not expect its operating results or cash flows to be affected to any significant degree by the effect of a change in market conditions on our investments.

Table of Conte n t s

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.