6 unchanged sentences
The magnitude of any gain or loss will be a function of the difference between the fixed or variable rate of the financial instrument and the market rate, and our financial condition and results of operations could be materially affected.
−Removed: Based on a sensitivity analysis performed on our financial investments held as of March 28, 2020, an immediate adverse change of 10% in interest rates (e.g.
+Added: Based on a sensitivity analysis performed on our financial investments held as of June 27, 2020, an immediate adverse change of 10% in interest rates (e.g.
3.00% to 3.30%) would result in a decrease of $1.1 million in the fair value of our available-for-sale debt securities and would not have a material impact on our consolidated financial position, results of operations or cash flows.
2 unchanged sentences
While a substantial portion of our systems and software sales are denominated in U.S.
−Removed: dollars and have relatively little
−Removed: exposure to foreign currency exchange risk with respect to these sales, substantially all of our sales in Japan are denominated in Japanes e yen.
+Added: Dollars and have relatively little exposure to foreign currency exchange risk with respect to these sales, substantially all of our sales in Japan are denominated in Japanese Yen.
A foreign currency forward exchange contract acts as a hedge by increasing in value when underlying assets decrease in value or underlying liabilities increase in value due to changes in foreign exchange rates.
Conversely, a foreign currency forward exchange contract decreases in value when underlying assets increase in value or underlying liabilities decrease in value due to changes in foreign exchange rates.
−Removed: These forward contracts are not designated as accounting hedges, so the unrealized gains an d losses are recognized under the caption “Other income, net,” in the Condensed Consolidated Statements of Operations for each reporting period in advance of the actual foreign currency cash flows with the fair value of these forward contracts being record ed under the caption “Other current liabilities” or “Prepaids and other current assets” on the Condensed Consolidated Balance Sheets.
−Removed: As of March 28, 2020, we had nineteen outstanding forward contracts with a total notional contract value of $29.0 million.
+Added: These forward contracts are not designated as accounting hedges, so the unrealized gains and losses are recognized under the caption “Other (expense) income, net,” in the Condensed Consolidated Statements of Operations for each reporting period in advance of the actual foreign currency cash flows with the fair value of these forward contracts being recorded under the caption “Other current liabilities” or “Prepaids and other current assets” on the Condensed Consolidated Balance Sheets.
+Added: As of June 27, 2020, we had nine outstanding forward contracts with a total notional contract value of $32.3 million.
We do not use derivative financial instruments for trading or speculative purposes.
5 unchanged sentences
Since each foreign entity’s functional currency is generally denominated in its local currency, there is exposure to foreign exchange risk when the foreign entity’s intercompany balance is remeasured at a reporting date resulting in transaction gains or losses.
−Removed: The intercompany balance exposed to foreign currency risk, as of March 28, 2020 was approximately $34.5 million.
+Added: The intercompany balance exposed to foreign currency risk, as of June 27, 2020 was approximately $42.0 million.
A hypothetical change of 10% in the relative value of the U.S.
−Removed: dollar versus local functional currencies could result in approximately $0.1 million in foreign currency exchange losses / (gains) which would be recorded as non-operating expense under the caption “Other income (expense), net” in our Condensed Consolidated Statements of Operations.
+Added: dollar versus local functional currencies could result in approximately $0.2 million in foreign currency exchange gains (losses) which would be recorded as non-operating expense under the caption “Other (expense) income, net” in our Condensed Consolidated Statements of Operations.
We cannot accurately predict future exchange rates or the overall impact of future exchange rate fluctuations on our business, results of operations and consolidated financial condition.
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.