Quantitative and Qualitative Disclosures about Market Risk
−Removed: We are exposed to certain market risks in the ordinary course of our business.
−Removed: These risks primarily include interest rate sensitivities as follows:
+Added: We are exposed to certain market risks in the ordinary course of our business, including sensitivities as follows:
Interest Rate Risk
−Removed: We had cash and cash equivalents of $253.7 million and marketable securities of $1,599.0 million as of December 31, 2019 .
+Added: We had cash and cash equivalents of $933.9 million and marketable securities of $2.1 billion as of December 31, 2020.
Cash and cash equivalents consist of bank deposits and money market funds.
8 unchanged sentences
A hypothetical 10% change in interest rates during any of the periods presented would not have had a material impact on our consolidated financial statements.
−Removed: In May 2018, we issued $550.0 million aggregate principal amount of Notes.
+Added: In May 2018, we issued $550.0 million aggregate principal amount of Notes, of which $206.3 million was redeemed as of December 31, 2020.
The fair market value of the Notes is affected by our stock price.
4 unchanged sentences
Currency Exchange Risks
−Removed: The functional currency of our foreign subsidiaries is the U.S.
−Removed: The local currencies of our foreign subsidiaries
−Removed: are the Australian dollar, the Bermuda dollar, the Brazilian real, British pound, the Colombian peso, Czech Republic koruna, the Euro, the Hong Kong dollar, the Indian Rupee, the Japanese yen, the Singapore dollar and the Swedish krona.
+Added: The functional currency of most of our foreign subsidiaries is the U.S.
+Added: The local currencies of our foreign subsidiaries are the Australian dollar, the Bermuda dollar, the Brazilian real, the British pound, the Canadian dollar, the Columbian peso, the Czech Republic koruna, the Euro, the Hong Kong dollar, the Indian rupee, the Japanese yen, the Mexican Peso, the Serbian Dollar, the Singapore dollar and the Swedish krona.
Our subsidiaries remeasure monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates.
5 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.