6 unchanged sentences
A 100 basis point decline in yield on our investment portfolio holdings as of December 30, 2023 would decrease our future annual interest income by approximately $3.6 million.
−Removed: Our investment portfolio holdings as January 1, 2022 yielded less than 100 basis points.
−Removed: A decline in yield to zero basis points on our investment portfolio holdings as of January 1, 2022 would decrease our future annual interest income by approximately $3.6 million.
+Added: A 100 basis point decline in yield on our investment portfolio holdings as of December 31, 2022 would decrease our future annual interest income by approximately $11.0 million.
We believe that our investment policy, which defines the duration, concentration, and minimum credit quality of the allowable investments, meets our investment objectives.
2 unchanged sentences
The interest rate on the credit facility consists of a variable-rate of interest and an applicable margin.
−Removed: While we have drawn from the credit facility in the past, we have no borrowings as of December 31, 2022.
−Removed: If we borrow from the credit facility in the future, we will again be exposed to interest rate fluctuations.
+Added: As of December 30, 2023, we had $45.0 million outstanding under our credit facility.
+Added: A 100 basis point increase in interest rates would increase our future annual interest rate expense by approximately $0.5 million.
Foreign currency exchange rate risk
3 unchanged sentences
Accordingly, gains and losses resulting from remeasuring transactions denominated in currencies other than U.S.
−Removed: dollars are recorded in the Consolidated Statements of Income.
+Added: dollars are recorded in the Consolidated Statements of Operations.
We use foreign currency forward contracts to manage exposure to foreign exchange risk.
4 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.