1 unchanged sentence
Interest Rate Fluctuation Risk
−Removed: Our exposure to interest rate risk relates to the interest income generated by cash, cash equivalents, and interest expense on the Credit Facility.
+Added: Our exposure to interest rate risk relates to the interest income generated by cash and cash equivalents.
The primary objective of our investment policy is to preserve principal while maximizing income without significantly increasing risk.
−Removed: We do not believe that an increase or decrease in interest rates of 100 basis points would have a material effect on our operating results or financial condition.
−Removed: As of December 31, 2022, borrowings under the Term Loan A Facility totaled $80.0 million with an effective interest rate of 4.4%.
−Removed: If the amount outstanding under our Term Loan A Facility remains at this level for an entire year and interest rates increased or decreased by 100 basis points, our annual interest expense would increase or decrease, respectively, by an additional $0.8 million.
+Added: We believe that an increase or decrease in interest rates of 100 basis points on our cash and cash equivalents balance would impact our interest income by an additional increase or decrease of $20.7 million.
Foreign Currency Exchange Rate Risk
5 unchanged sentences
We have not entered into any derivatives or other financial instruments in an attempt to hedge our foreign currency exchange risk, but we may do so in the future.
−Removed: Table o f Contents
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.