Quantitative and Qualitative Disclosures About Market Risk
−Removed: Because a portion of the Company’s net revenues are derived from its operations outside the U.S.
−Removed: and are denominated in local currencies, the Company is exposed to the impact of foreign currency fluctuations.
+Added: Because a portion of the Company’s net revenues is derived from its operations outside the U.S.
+Added: and is denominated in local currencies, the Company is exposed to the impact of foreign currency fluctuations.
The Company’s exposure to foreign currency exchange rates relates primarily to the Company’s foreign subsidiaries.
4 unchanged sentences
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.
3 unchanged sentences
During 2024, the U.S.
−Removed: dollar had mixed results against the primary currencies in which the Company conducts business, compared to one year ago, strengthening against the Australian dollar and Canadian dollar, and weakening against the Euro, British pound and the Brazilian real.
−Removed: These fluctuations resulted in a nominal impact on reported revenues for the year ended December 31, 2023.
−Removed: Because substantially all the Company’s international operations generated revenues and incurred expenses within the same country and currency, the impact of foreign currency exchange rates on reported net income was also nominal for the year ended December 31, 2023.
+Added: dollar fluctuated, and generally strengthened, against the primary currencies in which the Company conducts business, compared to one year ago.
+Added: Foreign currency exchange rates had the effect of decreasing reported revenues by $8.6 million, or 0.1%, for the year ended December 31, 2024, compared to 2023.
+Added: The general strengthening of the U.S.
+Added: dollar also affected the reported level of expenses incurred in the Company’s international operations.
+Added: 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.
+Added: Reported net income was $0.7 million, or 0.2%, lower for the year ended December 31, 2024 compared to 2023 due to the effect of currency exchange rates.
For the one month ended January 31, 2025, the U.S.
−Removed: dollar has weakened against the British pound, Brazilian real, the Euro, Canadian dollar and Australian dollar since December 31, 2023.
−Removed: If foreign currency exchange rates were to remain at January 2024 levels throughout 2024, the currency impact on the Company’s full-year reported revenues would be favorable, offset by an unfavorable impact on operating expenses.
+Added: dollar has strengthened against the British pound, the Euro and Canadian dollar, and weakened against the Australian dollar and Brazilian Real since December 31, 2024.
+Added: If foreign currency exchange rates were to remain at January 2025 levels throughout 2025, the currency impact on the Company’s full-year reported revenues would be unfavorable, offset by a favorable impact on operating expenses.
These results will likely have an immaterial impact on reported net income.
3 unchanged sentences
dollars at the exchange rates in effect at period end.
−Removed: The resulting translation adjustments are recorded in stockholders’ equity as a component of accumulated other comprehensive (income) loss.
+Added: The resulting translation adjustments are recorded in stockholders’ equity as a component of accumulated other comprehensive loss.
Although currency fluctuations impact the Company’s reported results and shareholders’ equity, such fluctuations generally do not affect cash flow or result in actual economic gains or losses.
−Removed: The Company generally has few cross-border transfers of funds, consisting of dividends from the Company’s foreign subsidiaries, and transfers to and from the U.S.
+Added: The Company generally has few cross-border transfers of funds, which consists of dividends from the Company’s foreign subsidiaries and transfers to and from the U.S.
related to intercompany working capital requirements.
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.