4 unchanged sentences
Most of the securities we invest in are subject to interest rate risk.
−Removed: To minimize this risk, we maintain our portfolio of cash, cash equivalents, and short-term investments in a variety of securities, including commercial paper, money market funds, U.S.
+Added: To minimize this risk, we maintain our portfolio of cash, cash equivalents, and investments in a variety of securities, including commercial paper, money market funds, certificates of deposit, U.S.
government and agency securities, corporate debt securities, and asset-backed securities.
To assess the interest rate risk, we performed a sensitivity analysis to determine the impact a change in interest rates would have on the value of the investment portfolio.
−Removed: Based on investment positions as of January 31, 2023, a hypothetical 100 basis point increase in interest rates across all maturities would result in a $46.8 million decline in the fair market value of the portfolio.
+Added: Based on investment positions as of April 30, 2023, a hypothetical 100 basis point increase in interest rates across all maturities would result in a $42.3 million decline in the fair market value of the portfolio.
Such losses would only be realized if we sold the investments prior to maturity.
1 unchanged sentence
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.