4 unchanged sentences
We estimate that a 100 basis point, or 1%, unfavorable change in interest rates would have resulted in approximately a $120.0 million and $48.1 million decrease in the fair value of our investment portfolio as of December 31, 2021 and 2020, respectively.
−Removed: We have exposure to market risk for changes in interest rates, including the interest rate risk relating to our March 2017 variable rate Tarrytown, New York lease (as described in Part II, Item 7.
+Added: We have exposure to market risk for changes in interest rates, including the interest rate risk relating to our variable rate Tarrytown, New York lease (as described in Part II, Item 7.
"Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources - Tarrytown, New York Leases ").
9 unchanged sentences
In 2021, 2020, and 2019, we did not record any charges for credit-related impairments of our available-for-sale debt securities.
−Removed: We are subject to credit risk associated with the receivables due from our collaborators, including Bayer, Sanofi, and Teva.
+Added: We are subject to credit risk associated with the receivables due from our collaborators, including Bayer and Sanofi.
We are also subject to credit risk in connection with trade accounts receivable due from our customers from our product sales.
1 unchanged sentence
In 2021, 2020 and 2019, we did not recognize any charges for write-offs and allowances of accounts receivable related to credit risk for our collaborators or customers.
−Removed: As of December 31, 2020 and 2019, three customers accounted on a combined basis for 93% and 97%, respectively, of our net trade accounts receivables.
+Added: As of December 31, 2021, three customers accounted on a combined basis for 91% (including 29% related to the U.S.
+Added: government) of our net trade accounts receivables.
Foreign Exchange Risk
−Removed: As discussed further above, Bayer and Sanofi market certain products outside the United States, and we share in profits and losses with these collaborators from commercialization of products (including the receipt of a percentage of EYLEA sales in Japan).
+Added: As discussed further above, our collaborators market certain products outside the United States, and we share in profits and losses with these collaborators from commercialization of products.
In addition, pursuant to the applicable terms of the agreements with our collaborators, we also share in certain worldwide development expenses incurred by our collaborators.
We also incur worldwide development expenses for clinical products we are developing independently, in addition to incurring expenses outside of the United States in connection with our international operations.
−Removed: Therefore, significant changes in foreign exchange rates of the countries outside the United States where our product is sold, where development expenses are incurred by us or our collaborators, or where we incur operating expenses can impact our operating results and financial condition.
+Added: Therefore, significant changes in foreign exchange rates of the countries outside the United States where our products are sold, where development expenses are incurred by us or our collaborators, or where we incur operating expenses can impact our operating results and financial condition.
As sales outside the United States continue to grow, and as we expand our international operations, we will continue to assess potential steps, including foreign currency hedging and other strategies, to mitigate our foreign exchange risk.
3 unchanged sentences
Changes in the fair value of our equity investments are included in Other income (expense), net on the Consolidated Statements of Income.
−Removed: We recorded $196.0 million of net unrealized gains and $118.3 million of net unrealized gains on equity securities in Other income (expense), net for the years ended December 31, 2020 and 2019, respectively.
+Added: We recorded $386.1 million and $196.0 million of net unrealized gains on equity securities in Other income (expense), net for the years ended December 31, 2021 and 2020, respectively.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
−Removed: The financial statements required by this Item are included on pages F-1 through F-47 of this report.
−Removed: The supplementary financial information required by this Item is included at page F-47 of this report.
+Added: The information required by this Item is included on pages F-1 through F-42 of this report and is incorporated herein by reference.
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
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.