8 unchanged sentences
Our future investment income may fall short of expectations due to changes in interest rates or we may suffer losses in principal if forced to sell securities that have declined in market value due to changes in interest rates.
−Removed: As of March 31, 2024, a 1% increase or decrease in interest rates would not have a material impact on our future earnings, fair values, or cash flows related to investments in cash equivalents or interest earning marketable securities.
−Removed: At March 31, 2024, we had $61.3 million outstanding under our Amended Credit Facility.
+Added: June 30, 2024, a 1% increase or decrease in interest rates would not have a material impact on our future earnings, fair values, or cash flows related to investments in cash equivalents or interest earning marketable securities.
+Added: At June 30, 2024, we had $61.3 million outstanding under our Amended Credit Facility.
Borrowings under the Amended Credit Facility bear interest at Term SOFR or a base rate, plus a margin ranging from 1.50% to 2.00%, depending on our leverage ratio.
5 unchanged sentences
The functional currency of each of our foreign subsidiaries is the currency of the economic environment in which the subsidiary primarily does business.
−Removed: Revenues denominated in currencies other than the USD accounted for 16.3% of our consolidated revenues for the three months ended March 31, 2024.
+Added: Revenues denominated in currencies other than the USD accounted for 19.7% of our consolidated revenues for the six months ended June 30, 2024.
We therefore have foreign currency risk related to these currencies, which is primarily the Australian dollar.
Accordingly, changes in exchange rates, and in particular a weakening of foreign currencies relative to the USD may negatively affect our revenue and operating income as expressed in the USD.
−Removed: For the three months ended March 31, 2024, a hypothetical 10% adverse change in the average foreign currency exchange rates would have decreased our consolidated revenues by approximately $4.7 million.
−Removed: In addition, the effect of exchange rate changes on cash, cash equivalents, and restricted cash for the three months ended March 31, 2024 was a decrease of $2.3 million.
+Added: For the six months ended June 30, 2024, a hypothetical 10% adverse change in the average foreign currency exchange rates would have decreased our consolidated revenues by approximately $11.9 million.
+Added: In addition, the effect of exchange rate changes on cash, cash equivalents, and restricted cash for the six months ended June 30, 2024 was a decrease of $0.5 million.
We do not use foreign exchange contracts or derivatives to hedge any foreign currency exposures.
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.