4 unchanged sentences
We continually monitor our exposure to changes in interest rates, market liquidity and credit ratings of issuers for our available-for-sale securities.
−Removed: It is possible that we are at risk if interest rates, market liquidity or credit ratings of issuers change in an unfavorable direction.
−Removed: 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 June 27, 2020, an immediate adverse change of 10% in interest rates (e.g.
−Removed: 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.
+Added: It is possible that we are at risk if interest rates, market liquidity or
+Added: credit ratings of issuers change in an unfavorable direction.
+Added: The magnitude of any gain or loss will be a function of the difference between the fixed or vari able rate of the financial instrument and the market rate, and our financial condition and results of operations could be materially affected.
+Added: Based on a sensitivity analysis performed on our financial investments held as of September 26, 2020, an immediat e adverse change of 10% in interest rates (e.g.
+Added: 1.00% to 1.10%) would result in a decrease of $1.6 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 o perations or cash flows.
Foreign Currency Risk
5 unchanged sentences
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.
−Removed: As of June 27, 2020, we had nine outstanding forward contracts with a total notional contract value of $32.3 million.
+Added: As of September 26, 2020, we had eight outstanding forward contracts with a total notional contract value of $33.6 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 June 27, 2020 was approximately $42.0 million.
+Added: The intercompany balance exposed to foreign currency risk, as of September 26, 2020 was approximately $39.9 million.
A hypothetical change of 10% in the relative value of the U.S.
2 unchanged sentences
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.