2 unchanged sentences
Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates.
−Removed: Our market risk exposure is primarily a result of fluctuations in foreign currency exchange rates, customer concentrations and interest rates.
+Added: Our market risk exposure is primarily a result of fluctuations in foreign currency exchange rates, customer concentrations, interest rates and commodity prices .
We do not hold or issue financial instruments for trading purposes.
Foreign Currency Exchange Risk
−Removed: Approximately 72.6% and 55.6% of our revenues for the six months ended June 30, 2023, and 2022, respectively, were earned in non U.S.
+Added: Approximately 70.9% and 59.5% of our revenues for the nine months ended September 30, 2023 , and 2022 , respectively, were earned in non U.S.
dollar denominated currencies, principally the Euro.
4 unchanged sentences
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 $163.2 million for the six months ended June 30, 2023.
+Added: dollar would increase or decrease our net income by $198.5 million for the nine months ended September 30, 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 $20.1 million for the six months ended June 30, 2023.
+Added: dollar would increase or decrease our net income by $30.3 million for the nine months ended September 30, 2023 .
For purposes of our consolidated financial statements, local currency assets and liabilities are translated at the rate of exchange to the U.S.
8 unchanged sentences
Our trade accounts receivables potentially expose us to a concentration of credit risk with our major customers.
−Removed: As of June 30, 2023, two major customers jointly accounted for approximately 38.1% of our consolidated trade receivables, net balance.
−Removed: As of December 31, 2022, three major customers jointly accounted for approximately 42.4% of our consolidated trade receivables, net balance.
−Removed: For the three months ended June 30, 2023 two major customers jointly accounted for approximately 29.6% of our total revenues.
−Removed: For the three months ended June 30, 2022 one major customer accounted for approximately 23.9% of our total revenues.
−Removed: For the six months ended June 30, 2023 two major customers jointly accounted for approximately 24.7% of our total revenues.
−Removed: For the six months ended June 30, 2022 one major customer accounted for approximately 23.7% of our total revenues.
+Added: As of September 30, 2023 , two major customers jointly accounted for approximately 37.3% of our consolidated trade receivables, net balance.
+Added: As of December 31, 2022 , two major customers jointly accounted for approximately 27.7% of our consolidated trade receivables, net balance.
+Added: For the three months ended September 30, 2023 two major customers jointly accounted for approximately 27.3% of our total revenues.
+Added: For the three months ended September 30, 2022 two major customers accounted for approximately 27.4% of our total revenues.
+Added: For the nine months ended September 30, 2023 two major customers jointly accounted for approximately 25.4% of our total revenues.
+Added: For the nine months ended September 30, 2022 one major customer accounted for approximately 20.1% of our total revenues.
Commodity Price Risk
3 unchanged sentences
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.