18 unchanged sentences
The Notes bear interest at a fixed rate of 4.250% per annum and accordingly do not vary with prevailing interest rates.
−Removed: A hypothetical 100 basis point increase or decrease in weighted average interest rates under our Term Loan and Revolving Credit Facility would have increased or decreased our interest expense by $8.3 million and $8.5 million for the years ended
−Removed: December 31, 2024 and 2023, respectively, including consideration of the impact the hypothetical basis point change would have had on our interest rate swap agreements.
+Added: A hypothetical 100 basis point increase or decrease in weighted average interest rates under our Term Loan would have increased or decreased our interest expense by $8.1 million and $8.3 million for the years ended December 31, 2025 and 2024, respectively, including consideration of the impact the hypothetical basis point change would have had on our interest rate swap agreements.
The fair value of our senior notes will generally fluctuate with movements of interest rates, increasing in periods of declining rates of interest and declining in periods of increasing rates of interest.
2 unchanged sentences
Investment risk
−Removed: We had cash and cash equivalents including restricted cash totaling $567.7 million and $1,031.7 million as of December 31, 2024 and December 31, 2023, respectively.
+Added: We had cash and cash equivalents including restricted cash totaling $685.7 million and $567.7 million as of December 31, 2025 and December 31, 2024, respectively, and short-term investments of $136.0 million as of December 31, 2025.
Our investment policy and strategy primarily attempts to preserve capital and meet liquidity requirements without significantly increasing risk.
5 unchanged sentences
Dollar and most of our revenues are denominated in U.S.
−Removed: However, we have foreign currency risks related to a significant portion of our operating expenses, consisting of headcount related expenses as well as leases and certain other operating expenses, denominated in currencies other than the U.S.
−Removed: Dollar, primarily the Euro (“EUR”), Israeli Shekel (“ILS”), British Pound, Euro, Polish Zloty (“PLN”) and Romanian Leu (“RON”).
+Added: However, we have foreign currency risks related to a significant portion of our operating expenses, consisting of headcount related expenses as well as certain other operating expenses, denominated in currencies other than the U.S.
+Added: Dollar, primarily the EUR, ILS, PLN and RON.
Accordingly, changes in exchange rates in the future may negatively affect our future revenues and other operating results as expressed in U.S.
2 unchanged sentences
We have experienced and will continue to experience fluctuations in our net income as a result of transaction gains or losses related to remeasurement of our asset and liability balances that are denominated in currencies other than the functional currency of the entities in which they are recorded.
−Removed: As of December 31, 2024, we had entered into derivative contracts to purchase certain foreign currencies, including EUR, ILS, RON and PLN, at future dates.
+Added: As of December 31, 2025, we had entered into derivative contracts to purchase certain foreign currencies at future dates.
The approximate amount of hedges was equal to $206.6 million, and all contracts are expected to mature during the upcoming 12 months.
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.