3 unchanged sentences
A majority of our customers enter into contracts that are denominated in U.S.
−Removed: Our expenses are generally denominated in the currencies of the countries where our operations are located, which is primarily in the United States and to a lesser extent in the United Kingdom, other Euro-zone countries within mainland Europe, Canada, Japan, Singapore and Australia.
+Added: Our expenses are generally denominated in the currencies of the countries where our operations are located, which is primarily in the United States and to a lesser extent in the United Kingdom, other Euro-zone countries within mainland Europe, Canada, Australia, Singapore and Japan.
Our results of operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates and may be adversely affected in the future due to changes in foreign currency exchange rates.
During the years ended December 31, 2020 and 2019, the effect of a hypothetical 10% adverse change in foreign currency exchange rates on monetary assets and liabilities would not have been material to our financial condition or results of operations.
−Removed: To date, we have not engaged in any hedging strategies.
+Added: We enter into forward contracts designated as cash flow hedges to manage the foreign currency exchange rate risk associated with our foreign currency denominated expenditures.
+Added: The effectiveness of our existing hedging transactions and the availability and effectiveness of any hedging transactions we may decide to enter into in the future may be limited, and we may not be able to successfully hedge our exposure, which could adversely affect our financial condition and operating results.
+Added: For further information, see Note 10, Derivatives and Hedging Activities , in the Notes to our Consolidated Financial Statements included in this Annual Report on Form 10-K.
As our international operations grow, we will continue to reassess our approach to manage our risk relating to fluctuations in foreign currency rates.
4 unchanged sentences
We do not enter into investments for trading or speculative purposes.
−Removed: Tab l e of Contents
Our cash and cash equivalents and short- and long-term investments are subject to market risk due to changes in interest rates, which may affect our interest income and the fair value of our investments.
1 unchanged sentence
However, because we classify our investments as available-for-sale securities, no gains or losses are recognized due to the changes in interest rates unless securities are sold prior to maturity or declines in fair value are determined to be other-than-temporary.
−Removed: In August 2018, we issued $230.0 million aggregate principal amount of 1.25% convertible senior notes due in 2023.
−Removed: The fair value of the Notes is subject to interest rate risk, market risk and other factors due to the conversion feature.
−Removed: The fair value of the Notes may increase or decrease for various reasons, including fluctuations in the market price of our common stock, fluctuations in market interest rates and fluctuations in general economic conditions.
−Removed: The interest and market value changes affect the fair value of the Notes but do not impact our financial position, cash flows or results of operations due to the fixed nature of the debt obligation.
−Removed: Based upon the quoted market price as of December 31, 2019, the fair value of our Notes was $342.7 million.
+Added: The fair values of our convertible senior notes are subject to interest rate risk, market risk and other factors due to the conversion feature of the notes.
+Added: The fair values of the convertible senior notes may increase or decrease for various reasons, including fluctuations in the market price of our common stock, fluctuations in market interest rates and fluctuations in general economic conditions.
+Added: The interest and market value changes affect the fair values of the convertible senior notes but does not impact our financial position, cash flows or results of operations due to the fixed nature of the debt obligation.
+Added: Based upon the quoted market prices as of December 31, 2020, the fair values of our 2023 Notes and 2025 Notes were $501.8 million and $373.3 million, respectively.
As of December 31, 2020, the effect of a hypothetical 10% increase or decrease in interest rates would not have had a material impact on our financial statements.
3 unchanged sentences
Our inability or failure to do so could harm our business, financial condition and results of operations.
−Removed: Tab l e of 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.