1 unchanged sentence
We are exposed to market risks in the ordinary course of our business.
−Removed: These risks have primarily include interest rate sensitivities related to our borrowings and investments.
−Removed: We had $352.5 million and $307.8 million in cash, cash equivalents and marketable securities at September 30, 2021 and December 31, 2020, respectively.
+Added: These risks primarily include interest rate sensitivities related to our interest-earning investments.
+Added: We had $305.3 million and $326.9 million in cash, cash equivalents and marketable securities at March 31, 2022 and December 31, 2021, respectively.
Cash and cash equivalents consist of cash, money market funds, commercial paper and government bonds.
2 unchanged sentences
Based on our interest rate sensitivity analysis, an immediate 100 basis point increase in interest rates would increase our interest income by approximately $2.3 million, while an immediate 100 basis point decrease in interest rates would decrease our interest income by approximately $1.2 million.
−Removed: Approximately $1.8 million and $1.0 million of our cash balance was located in Australia at September 30, 2021 and December 31, 2020, respectively.
+Added: Approximately $1.2 million and $1.1 million of our cash balance was located in Australia at March 31, 2022 and December 31, 2021, respectively.
Our expenses, except those related to our Australian operations, are generally denominated in U.S.
−Removed: For our operations in Australia, the majority of the expenses are denominated in Australian dollars.
+Added: For our operations in Australia, the majority of our expenses are denominated in Australian dollars.
To date, we have not had a formal hedging program with respect to foreign currency, but we may do so in the future if our exposure to foreign currency becomes more significant.
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.