4 unchanged sentences
dollars, and therefore our revenue is not currently subject to significant foreign currency risk.
−Removed: Our operating expenses are denominated in the currencies of the countries in which our operations are located, which are primarily in the United States, the United Kingdom, Canada, Australia, the Netherlands, Germany and France.
+Added: Our operating expenses are denominated in the currencies of the countries in which our operations are located, which are primarily in the United States, the United Kingdom, Canada and Australia.
Our condensed consolidated results of operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates and may be adversely affected in the future due to changes in foreign exchange rates.
To date, we have not entered into any hedging arrangements with respect to foreign currency risk or other derivative financial instruments.
−Removed: During the nine months ended October 31, 2020 and 2019, a hypothetical 10% change in foreign currency exchange rates applicable to our business would not have had a material impact on our condensed consolidated financial statements.
+Added: During the three months ended April 30, 2021 and 2020, a hypothetical 10% change in foreign currency exchange rates applicable to our business would not have had a material impact on our condensed consolidated financial statements.
Interest Rate Risk
−Removed: We had cash, cash equivalents and short-term investments totaling $2,495.1 million as of October 31, 2020, of which $2,421.0 million was invested in U.S.
−Removed: treasury securities, money market funds, and corporate debt securities.
−Removed: Our cash and cash equivalents are held for working capital purposes.
+Added: We had cash, cash equivalents and short-term investments totaling $2,690.1 million as of April 30, 2021, of which $2,218.8 million was invested in money market funds, U.S.
+Added: treasury securities, and corporate debt securities.
+Added: Our cash and cash equivalents are held for working capital and general corporate purposes, including potential future acquisition activity.
Our short-term investments are made for capital preservation purposes.
5 unchanged sentences
As losses due to changes in interest rates are generally not considered to be credit related changes, no losses in such securities are recognized due to changes in interest rates unless we intend to sell, it is more likely than not that we will be required to sell, we sell prior to maturity, or we otherwise determine that all or a portion of the decline in fair value are due to credit related factors.
−Removed: As of October 31, 2020, a hypothetical 10% relative change in interest rates would not have had a material impact on the value of our cash equivalents or investment portfolio.
+Added: As of April 30, 2021, a hypothetical 10% relative change in interest rates would not have had a material impact on the value of our cash equivalents or investment portfolio.
Fluctuations in the value of our cash equivalents and investment portfolio caused by a change in interest rates (gains or losses on the carrying value) are recorded in other comprehensive income (loss), and are realized only if we sell the underlying securities prior to maturity.
3 unchanged sentences
The Note Hedges were completed to reduce the potential dilution from the conversion of the 2023 Notes.
−Removed: Through the nine months ended October 31, 2020, we received and completed requests to convert approximately $10.4 million principal amount of 2023 Notes (not in connection with the 2023 Notes Partial Repurchases) and exercised a corresponding amount of Note Hedges, which will be net share settled in our fiscal fourth quarter in accordance with their contractual terms.
−Removed: In September 2019 and June 2020, we issued the 2025 Notes due September 1, 2025 and 2026 Notes due June 15, 2026 with a principal amount of $1,060.0 million and $1,150.0 million, respectively.
−Removed: Concurrently with the issuance of the 2025 Notes and 2026 Notes, we entered into separate Capped Call transactions.
−Removed: The 2025 Capped Calls and 2026 Capped Calls were completed to reduce the potential dilution from the conversion of the 2025 Notes and 2026 Notes, respectively.
−Removed: The 2023, 2025 and 2026 Notes have fixed annual interest rates of 0.25%, 0.125% and 0.375% respectively;
+Added: Additionally, through April 30, 2021, we received and completed requests to convert approximately $27.6 million principal amount of 2023 Notes (not in connection with the 2023 Notes Partial Repurchases) and exercised and net-share-settled Note Hedges corresponding to approximately $17.9 million principal amount of 2023 Notes.
+Added: In the first quarter of fiscal 2022, we received additional conversion requests, and approximately $2.9 million aggregate principal amount of the 2023 Notes were primarily settled in shares of Class A common stock in the second quarter of fiscal 2022.
+Added: Additionally, we exercised Note Hedges corresponding to approximately $9.6 million principal amount of 2023 Notes expected to be settled in the second quarter of fiscal 2022, and subsequent to April 30, 2021, we further exercised an immaterial amount of Note Hedges.
+Added: No requests to convert material amounts of 2023 Notes or 2025 Notes are currently outstanding.
+Added: In September 2019, we issued the 2025 Notes due September 1, 2025 with a principal amount of $1,060.0 million.
+Added: Concurrently with the issuance of the 2025 Notes, we entered into separate capped call transactions.
+Added: The 2025 Capped Calls were completed to reduce the potential dilution from the conversion of the 2025 Notes.
+Added: In June 2020, we issued the 2026 Notes due June 15, 2026 with a principal amount of $1,150.0 million.
+Added: Concurrently with the issuance of the 2026 Notes, we entered into separate capped call transactions.
+Added: The 2026 Capped Calls were completed to reduce the potential dilution from the conversion of the 2026 Notes.
+Added: The 2023 Notes, 2025 Notes and 2026 Notes have a fixed annual interest rate of 0.25%, 0.125% and 0.375%, respectively;
accordingly, we do not have economic interest rate exposure on the Notes.
2 unchanged sentences
In addition, the fair value of the Notes fluctuates when the market price of our common stock fluctuates.
−Removed: The fair value was determined based on the quoted bid price of the
−Removed: Notes in an over-the-counter market on the last trading day of the reporting period.
+Added: The fair value was determined based on the quoted bid price of the Notes in an over-the-counter market on the last trading day of the reporting period.
See Note 4 to our condensed consolidated financial statements for more information.
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.