What changed in this filing

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

2021-11-09 compared with 2021-08-02 · 23 added, 22 removed, 22 unchanged (67% of the section changed)

Quantitative and

Qualitative Disclosures About Market Risk.

Quantitative and Qualitative Disclosures

About Market Risk.

Riley’s primary

16 unchanged sentences

bonds and investments in partnership interests, and loans receivable.

Our cash and cash equivalents through June 30, 2021 included amounts

in bank checking and liquid money market accounts.

We may be exposed to interest rate risk through trading activities in convertible and

fixed income securities as well as U.S.

Our cash and cash equivalents through September 30, 2021 included

amounts in bank checking and liquid money market accounts.

We may be exposed to interest rate risk through trading activities in convertible

and fixed income securities as well as U.S.

Treasury securities, however, based on our daily monitoring of this risk, we believe we currently

1 unchanged sentence

Foreign Currency Risk

The majority of our operating activities are conducted in U.S.

Revenues generated from our foreign subsidiaries totaled $13.3 million for the six months ended June 30, 2021 or 1.4% of our total

revenues of $936.9 million during the six months ended June 30, 2021.

The financial statements of our foreign subsidiaries are translated

dollars at period-end rates, with the exception of revenues, costs and expenses, which are translated at average rates during

the reporting period.

We include gains and losses resulting from foreign currency transactions in income, while we exclude those resulting

from translation of financial statements from income and include them as a component of accumulated other comprehensive income (loss).

Transaction gains (losses), which were included in our condensed consolidated statements of operations, amounted to a gain of $0.2 million

and $0.5 million during the six months ended June 30, 2021 and 2020, respectively.

The majority of our operating

activities are conducted in U.S.

Revenues generated from our foreign subsidiaries totaled $48.8 million for the nine months

ended September 30, 2021 or 3.7% of our total revenues of $1,318.5 million during the nine months ended September 30, 2021.

The financial

statements of our foreign subsidiaries are translated into U.S.

dollars at period-end rates, with the exception of revenues, costs, and

expenses, which are translated at average rates during the reporting period.

We include gains and losses resulting from foreign currency

transactions in income, while we exclude those resulting from translation of financial statements from income and include them as a component

of accumulated other comprehensive income (loss).

Transaction gains (losses), which were included in our condensed consolidated statements

of operations, amounted to a gain of $0.9 million and $0.4 million during the nine months ended September 30, 2021 and 2020, respectively.

We may be exposed to foreign currency risk;

our operating results during the six months ended June 30, 2021 included $13.3 million of revenues from our foreign subsidiaries and a

10% appreciation of the U.S.

dollar relative to the local currency exchange rates would result in less than $0.1 million increase in our

operating income and a 10% depreciation of the U.S.

dollar relative to the local currency exchange rates would have resulted in a net

decrease in our operating income of less than $0.1 million for the six months ended June 30, 2021.

however, our operating results during the nine months ended September 30, 2021 included $48.8

million of revenues and $39.0 million of operating expenses from our foreign subsidiaries and a 10% appreciation or depreciation of the

dollar relative to the local currency exchange rates would result in an approximately $0.9 million change in our operating income

for the nine months ended September 30, 2021.

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.

What changed 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk