1 unchanged sentence
We have exposure to equity risk with respect to the equity investments that we hold in Arcturus and Solid.
−Removed: The carrying value of our equity investment held in Arcturus was $90.9 million and $95.4 million as of March 31, 2021 and December 31 , 2020, respectively, and the carrying value of our equity investment held in Solid was $43.3 million and $59.3 million as of March 31, 2021 and December 31 , 2020, respectively.
−Removed: The fair value of our equity investments decreased by $20.6 million during the three months ended March 31, 2021 due to a decrease in the fair value of Arcturus and Solid common stock, resulting in unrealized losses on our investments in Arcturus and Solid common stock of $4.6 million and $16.0 million, respectively.
−Removed: A hypothetical 10 percent decrease in the market price for our equity investments in Arcturus and Solid as of March 31, 2021 and December 31, 2020 would decrease the fair value by $13.4 million and $15.5 million, respectively.
+Added: The carrying value of our equity investment held in Arcturus was $74.4 million and $95.4 million as of June 30, 2021 and December 31 , 2020, respectively, and the carrying value of our equity investment held in Solid was $28.6 million and $59.3 million as of June 30, 2021 and December 31 , 2020, respectively.
+Added: The fair value of our equity investments decreased by $31.0 million and $51.7 million during the three and six months ended June 30, 2021, respectively, due to a decrease in the fair value of Arcturus and Solid common stock, resulting in unrealized losses on our investments in Arcturus common stock of $16.4 million and $21.0 million for the three and six months ended June 30, 2021, respectively and in unrealized losses in our investments in Solid common stock of $14.6 million and $30.7 million for the three and six months ended June 30, 2021, respectively.
+Added: A hypothetical 10 percent decrease in the market price for our equity investments in Arcturus and Solid as of June 30, 2021 and December 31, 2020 would decrease the fair value by $10.3 million and $15.5 million, respectively.
Given the historic volatility of the publicly traded stock price of Arcturus and Solid, the fair value of our investments in Arcturus and Solid is subject to wide fluctuations which may have a significant impact on our net income (loss) in future periods.
4 unchanged sentences
Our investment policy provides for investments in low-risk, investment-grade debt instruments.
−Removed: As of March 31, 2021, we had cash, cash equivalents, and marketable debt securities totaling $1,047.0 million, compared to $1,212.0 million as of December 31, 2020, which include bank deposits, money market funds, U.S.
+Added: As of June 30, 2021, we had cash, cash equivalents, and marketable debt securities totaling $973.8 million, compared to $1,212.0 million as of December 31, 2020, which include bank deposits, money market funds, U.S.
government treasury and agency securities, and investment-grade corporate bond securities which are subject to default, changes in credit rating, and changes in market value.
The securities in our investment portfolio are classified as available for sale and are subject to interest rate risk and will decrease in value if market interest rates increase.
−Removed: A hypothetical 100 basis point change in interest rates during any of the periods presented would not have had a material impact on the fair market value of our cash equivalents and marketable debt securities as of March 31, 2021 or December 31, 2020.
−Removed: To date, we have not experienced a loss of principal on any of these investments and as of March 31, 2021 , we did not record any allowance for credit loss from our investments.
+Added: A hypothetical 100 basis point change in interest rates during any of the periods presented would not have had a material impact on the fair market value of our cash equivalents and marketable debt securities as of June 30, 2021 or December 31, 2020.
+Added: To date, we have not experienced a loss of principal on any of these investments and as of June 30 , 2021 , we did not record any allowance for credit loss from our investments.
Foreign Currency Risk
5 unchanged sentences
An adverse movement in foreign exchange rates could have a material effect on payments made to foreign suppliers and for license agreements.
−Removed: For the three months ended March 31, 2021 , a majority of our revenue and expense activities and capital expenditures were denominated in U.S.
+Added: For the three months ended June 30 , 2021 , a majority of our revenue and expense activities and capital expenditures were denominated in U.S.
A hypothetical 10% change in foreign exchange rates during any of the periods presented would not have had a material impact on our consolidated financial statements.
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.