Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Interest Rate and Market Risk
We carry our convertible senior notes at the principal amount, less unamortized debt issuance costs, on our Condensed Consolidated Balance Sheets. Because the notes have a fixed annual interest rate of 1.50%, we do not have any economic interest rate exposure or financial statement risk associated with changes in interest rates. The fair value of the notes, however, may fluctuate when interest rates and the market price of our stock changes. See Note 8. Convertible Senior Notes in Part I, Item 1 of this Form 10-Q for additional information.
There have been no other material changes in market risk from the information provided in our Annual Report on Form 10-K for the year ended December 31, 2020.
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