2 unchanged sentences
We are exposed to market risk for changes in interest rates related primarily to balances of our financial instruments including cash and cash equivalents and short-term investments.
−Removed: As of December 31, 2021, we had cash and cash equivalents and short-term investments of $255.0 million, which consisted primarily of money market funds and commercial paper.
The primary objective of our investment approach is to preserve principal and provide liquidity.
−Removed: As of December 31, 2021, we held money market fund securities of $19.3 million, short-term corporate debt of $4.9 million and short-term commercial paper of $227.8 million.
−Removed: Our primary exposure to market risk is interest income sensitivity, which is affected by changes in the general level of interest rates in the United States.
−Removed: A 10% change in the level of market interest rates would not have a material effect on our business, financial condition or results of operations.
+Added: As a result, a 10% change in the level of market interest rates would not be expected to have a material effect on our business, financial condition or results of operations.
Foreign Currency Risk
11 unchanged sentences
As our international operations grow, we will continue to reassess our approach to managing risks relating to fluctuations in currency exchange rates.
+Added: Inflation Risk
+Added: During the last two years, inflation and changing prices have not had a material effect on our business.
+Added: We are unable to predict whether inflation or changing prices will materially affect our business in the foreseeable future.
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.