2 unchanged sentences
Investment and Interest Rate Risk
−Removed: Our exposure to interest rate and general market risks relates to our Term Loan Facility, which has variable interest rates, and our investment portfolio.
−Removed: As of June 30, 2023, there were $500.0 million of borrowings outstanding under the Term Credit Agreement, and a potential change in the associated interest rates would be immaterial to the results of our operations.
+Added: Our exposure to interest rate and general market risks relates to our investment portfolio.
Our investment portfolio consists of cash and cash equivalents (money market funds and marketable securities purchased with less than ninety days until maturity) that total approximately $1,029.7 million, and marketable securities (U.S.
−Removed: Treasury and government securities, corporate bonds and notes, and municipal bonds) that total approximately $14.9 million and $3.0 million within short-term and long-term marketable securities, respectively, as of June 30, 2023.
+Added: Treasury and government securities and corporate bonds and notes) that total approximately $15.9 million and $2.0 million within short-term and long-term marketable securities, respectively, as of December 29, 2023.
The main objectives of our investment activities are liquidity and preservation of capital.
2 unchanged sentences
Credit risk associated with our investments is not material because our investments are diversified across several types of securities with high credit ratings, which reduces the amount of credit exposure to any one investment.
−Removed: Based on our results of operations for the three and nine months ended June 30, 2023, a hypothetical reduction in the interest rates on our cash, cash equivalents, and other investments to zero would result in an immaterial reduction of interest income with a de minimis impact on income before taxes.
+Added: Based on our results of operations for the three months ended December 29, 2023, a hypothetical reduction in the interest rates on our cash, cash equivalents, and other investments to zero would result in an immaterial reduction of interest income with a de minimis impact on income before taxes.
We do not believe that investment or interest rate risks currently pose material exposures to our business or results of operations.
5 unchanged sentences
Given the relatively small number of customers and arrangements with third-party manufacturers denominated in foreign currencies, we do not believe that foreign exchange volatility has a material impact on our current business or results of operations.
−Removed: However, fluctuations in
−Removed: currency exchange rates could have a greater effect on our business or results of operations in the future to the extent our expenses increasingly become denominated in foreign currencies.
+Added: However, fluctuations in currency exchange rates could have a greater effect on our business or results of operations in the future to the extent our expenses increasingly become denominated in foreign currencies.
We may enter into foreign currency forward and options contracts with financial institutions to protect against foreign exchange risks associated with certain existing assets and liabilities, certain firmly committed transactions, forecasted future cash flows, and net investments in foreign subsidiaries.
However, we may choose not to hedge certain foreign exchange exposures for a variety of reasons, including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures.
−Removed: For the three and nine months ended June 30, 2023, we had no outstanding foreign currency forward or options contracts with financial institutions.
+Added: For the three months ended December 29, 2023, we had no outstanding foreign currency forward or options contracts with financial institutions.
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.