5 unchanged sentences
Foreign Currency Exchange Risk
−Removed: Approximately 59.5% and 57.1% of our revenues for the nine months ended September 30, 2022 , and 2021 , respectively, were earned in non U.S.
+Added: Approximately 69.5% and 56.9% of our revenues for the three months ended March 31, 2023, and 2022, respectively, were earned in non U.S.
dollar denominated currencies, principally the Euro.
Our expenses are generally denominated in the currencies in which our operations are located, primarily the U.S.
−Removed: dollar, New Israeli Shekel ("NIS"), Euro, and to a lesser extent, the South Korean Won ("K RW").
+Added: dollar, New Israeli Shekel (“NIS”), Euro, and to a lesser extent, the South Korean Won (“KRW”).
Our NIS denominated expenses consist primarily of personnel and overhead costs.
1 unchanged sentence
A hypothetical 10% change in foreign currency exchange rates between the Euro and the U.S.
−Removed: dollar would increase or decrease our net income by $85.9 million for the nine months ended September 30, 2022.
+Added: dollar would increase or decrease our net income by $95.3 million for the three months ended March 31, 2023.
A hypothetical 10% change in foreign currency exchange rates between the NIS and the U.S.
−Removed: dollar would increase or decrease our net income by $32.8 million for the nine months ended September 30, 2022.
+Added: dollar would increase or decrease our net income by $9.1 million for the three months ended March 31, 2023.
For purposes of our consolidated financial statements, local currency assets and liabilities are translated at the rate of exchange to the U.S.
3 unchanged sentences
These derivative instruments are designated as cash flow hedges.
−Removed: In addition, we also entered into derivative financial instruments to hedge the Company’s exposure to currencies other than the U.S.
+Added: In addition, from time to time we enter into derivative financial instruments to hedge the Company’s exposure to currencies other than the U.S.
dollar, mainly forward contracts to sell Euro and AUD for U.S.
2 unchanged sentences
Our trade accounts receivables potentially expose us to a concentration of credit risk with our major customers.
−Removed: As of September 30, 2022 and 2021 , two major customers accounted for approximately 27.7% and 29.1% of our consolidated trade receivables balance, respectively.
−Removed: For the three months ended September 30, 2022 and 2021 , two major customers accounted for approximately 27.4% and 28.1% of our total revenues, respectively.
−Removed: For the nine months ended September 30, 2022 and 2021 one and two major customers accounted for approximately 20.1% and 28.3% of our total revenues, respectively.
−Removed: We currently do not foresee a credit risk associated with these receivables.
+Added: As of March 31, 2023, two major customers jointly accounted for approximately 27.8% of our consolidated trade receivables, net balance.
+Added: As of December 31, 2022, three major customers jointly accounted for approximately 42.4% of our consolidated trade receivables, net balance.
+Added: For the three months ended March 31, 2023 two major customers jointly accounted for approximately 21.9% of our total revenues.
+Added: For the three months ended March 31, 2022 one major customer accounted for approximately 23.5% of our total revenues.
Commodity Price Risk
−Removed: We are subject to risk from fluctuating market prices of certain commodity raw materials, including copper, which are used in our products.
+Added: We are subject to risk from fluctuating market prices of certain commodity raw materials which are used in our products, including Copper, Lithium, Nickel and Cobalt.
Prices of these raw materials may be affected by supply restrictions or other market factors from time to time, and we do not enter into hedging arrangements to mitigate commodity risk.
1 unchanged sentence
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.