5 unchanged sentences
dollar value of the Company’s reported revenues, expenses, earnings, assets and liabilities.
−Removed: For the nine months ended September 30, 2023, approximately 22.3% of the Company’s revenues were generated outside of the U.S.
+Added: For the three months ended March 31, 2024, approximately 22.6% of the Company’s revenues were generated outside of the U.S.
These operations transact business in their functional currency, which is the same as their local currency.
As a result, fluctuations in the value of foreign currencies against the U.S.
−Removed: dollar, particularly the Canadian dollar, British pound, Euro, Australian dollar and Brazilian real, have an impact on the Company’s reported results.
+Added: dollar, particularly the Australian dollar and Brazilian real, British pound, Canadian dollar and Euro, have an impact on the Company’s reported results.
Under GAAP, revenues and expenses denominated in foreign currencies are translated into U.S.
2 unchanged sentences
dollar changes relative to the currencies of the Company’s international markets, the Company’s reported results vary.
−Removed: During the first nine months of 2023, the U.S.
−Removed: dollar fluctuated, and generally strengthened, against the primary currencies in which the Company conducts business, compared to one year ago.
−Removed: Foreign currency exchange rates had the effect of decreasing reported service revenues by $11.1 million, or 0.2%, in the first three quarters of 2023 compared to the same period one year ago.
−Removed: The general strengthening of the U.S.
+Added: During the first three months of 2024, the U.S.
+Added: dollar fluctuated, and generally weakened, against the primary currencies in which the Company conducts business, compared to one year ago.
+Added: Foreign currency exchange rates had the effect of increasing reported service revenues by $1.7 million, or 0.1%, in the first quarter of 2024 compared to the same period one year ago.
+Added: The general weakening of the U.S.
dollar also affected the reported level of expenses incurred in the Company’s international operations.
Because substantially all the Company’s international operations generated revenues and incurred expenses within the same country and currency, the effect of lower reported revenues is largely offset by the decrease in reported operating expenses.
−Removed: Reported net income was $0.5 million, or 0.1%, lower in the first three quarters of 2023 compared to the same period one year ago due to the effect of currency exchange rates.
−Removed: If currency exchange rates were to remain at September 30, 2023 levels throughout the remainder of 2023, the currency impact on the Company’s full-year reported revenues and operating expenses would be consistent with the first three quarters of 2023 results.
+Added: Reported net income was $0.1 million, or 0.1%, lower in the first quarter of 2024 compared to the same period one year ago due to the effect of currency exchange rates.
+Added: If currency exchange rates were to remain at March 31, 2024 levels throughout the remainder of 2024, the currency impact on the Company’s full-year reported revenues and operating expenses would be consistent with the first quarter of 2024 results.
Should current trends continue, the impact to reported net income would be immaterial.
+Added: For the one month ended April 30, 2024, the U.S.
+Added: dollar has strengthened against the primary currencies in which the Company conducts business since March 31, 2024.
+Added: If foreign currency exchange rates were to remain at April 2024 levels throughout 2024, the currency impact on the Company’s full-year reported revenues would be unfavorable, offset by a favorable impact on operating expenses.
+Added: These results will likely have an immaterial impact on reported net income.
Fluctuations in foreign currency exchange rates impact the U.S.
7 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.