2 unchanged sentences
The vast majority of our cash generated from revenue is denominated in U.S.
−Removed: dollars, with a small amount denominated in Australian dollars, Canadian dollars, Great British pounds, and Euros.
−Removed: Our expenses are generally denominated in the currencies of the jurisdictions in which we conduct our operations, which are primarily in the United States, Australia, Canada, England, Mexico, and Egypt.
−Removed: Our results of current and future operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates.
−Removed: The effect of a hypothetical 10% change in foreign currency exchange rates applicable to our business would not have had a material impact on our consolidated financial statements during any of the periods presented.
+Added: dollars, with the remainder denominated in Australian dollars, Canadian dollars, Great British pounds, Euros, Singapore Dollars, and UAE Dirham.
+Added: Our expenses are generally denominated in the currencies of the jurisdictions in which we conduct our operations, which are primarily in the U.S., Australia, Canada, England, Mexico, Egypt, Singapore, France, Ireland, and the UAE.
+Added: Our results of current and future operations and cash flows are, therefore, subject to the risk of fluctuations in foreign currency exchange rates.
+Added: This exposure is the result of selling in multiple currencies and payment of personnel-related expenses and other operating expenses in countries where the functional currency is the local currency.
+Added: Changes in foreign currency exchange rates could have an adverse impact on our financial results and cash flow.
+Added: These exposures may change over time as business practices evolve and economic conditions change.
As the impact of foreign currency exchange rates has not been material to our historical operating results, we have not entered into derivative or hedging transactions, but we may do so in the future if our exposure to foreign currency becomes more significant.
Interest Rate Risk
−Removed: We had cash, cash equivalents, and restricted cash of $589.2 million as of December 31, 2021.
−Removed: Cash, cash equivalents, and restricted cash consist of checking accounts, savings accounts, and money market funds.
+Added: We had cash, cash equivalents, restricted cash, and marketable securities of $585.3 million as of December 31, 2022.
+Added: Cash, cash equivalents, restricted cash, and marketable securities consist of checking accounts, savings accounts, money market funds, U.S.
+Added: treasury securities, commercial paper, corporate notes and obligations, and time deposits.
The cash and cash equivalents are held for working capital and general corporate purposes.
4 unchanged sentences
Due to the short-term nature of our investments, we have not been exposed to, nor do we anticipate being exposed to, material risks due to changes in interest rates.
−Removed: As of December 31, 2021, a hypothetical 10% increase or decrease in interest rates would not have a material effect on the fair market value of our portfolio.
+Added: As of December 31, 2022, a hypothetical 100 bps increase or decrease in interest rates would not have a material impact on the fair market value of our portfolio.
We therefore do not expect our results of operations or cash flows to be materially affected by a sudden change in market interest rates.
Inflation Risk
−Removed: Inflation can have a positive impact on our pricing since increased construction costs may increase construction volume purchased by customers, however supply chain challenges and labor shortages can result in delayed construction project starts, which may negatively impact construction volume purchased.
+Added: Inflation can have a positive impact on our pricing since increased construction costs may increase construction volume purchased by customers.
+Added: However, supply chain challenges and labor shortages can result in delayed construction project starts, which may negatively impact construction volume purchased.
Inflation can also result in higher personnel-related costs.
3 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.