4 unchanged sentences
Interest Rate Risk
−Removed: We have exposure to interest rate risk that relates primarily to our cash and cash equivalents held in bank deposit and money market funds.
−Removed: All of our cash equivalents are carried at fair market value.
−Removed: The primary objective of our investment activities is to preserve principal while at the same time improving yields without significantly increasing risk.
−Removed: To achieve this objective, we maintain our portfolio of cash equivalents in asset types including bank deposits and money market funds.
−Removed: Interest rates were higher in the first half of 2020 and subsequent declines in interest rates for remainder of 2020 and into 2021 have reduced our interest income.
−Removed: While historical fluctuations in interest income have not been significant, in a financial environment with extremely low or negative interest rates, we have experienced and could continue to experience a reduction in the interest earned from such investment activities.
−Removed: A sustained 10% decline in interest rates during the periods presented would not have materially affected our operational results.
+Added: We have exposure to interest rate risk that relates primarily to our cash equivalents and marketable securities.
+Added: All of our cash equivalents and marketable securities are designated as available-for-sale and carried at fair market value.
+Added: We invest in a number of securities including corporate bonds, U.S.
+Added: agency notes, asset-backed securities, commercial paper, U.S.
+Added: treasuries and money market funds.
+Added: We attempt to ensure the safety and preservation of our invested principal funds by limiting default risk, market risk and reinvestment risk.
+Added: We mitigate default risk by investing in high grade investment securities.
+Added: The fair market value of our fixed rate securities may be adversely impacted by increases in interest rates.
+Added: For example, market interest rates increased during 2022, which contributed to unrealized losses on our cash equivalents and marketable securities.
+Added: A hypothetical 100 basis-point (one percentage point) increase in interest rates compared to rates at December 31, 2022 would have adversely affected the fair value of our investment portfolio by approximately $1.4 million.
Foreign Currency Exchange Risk
2 unchanged sentences
dollar depending on the circumstances.
−Removed: Historically, most of our revenue has been denominated in U.S.
−Removed: dollars, although we have sold our products and services in local currency outside of the United States, principally the euro.
+Added: Historically, most of our revenue is denominated in U.S.
+Added: dollars, although we sell our products and services in local currency outside of the United States, principally the euro.
For the years ended December 31, 2022 and 2021, approximately 18% and 17%, respectively, of our sales were denominated in currencies other than U.S.
3 unchanged sentences
dollar increases relative to foreign currencies, we will incur losses on the remeasurement on customer receivables which are denominated in foreign currencies.
+Added: In addition, for our price lists denominated in foreign currencies, if the value of the U.S.
+Added: dollar increases relative to the foreign currencies, the value of the revenue transactions when translated or remeasured to our U.S.
+Added: dollar reporting currency will be lower.
We do not currently maintain a program to hedge exposures to non-U.S.
3 unchanged sentences
dollar, with all other variables held constant.
−Removed: sensitivity analysis indicated that a hypothetical 10% movement in foreign currency exchange rates would change the amount of cash and cash equivalents and accounts receivable, we would report in U.S.
−Removed: Dollars as of December 31, 2021 and December 31, 2020 by less than $2.4 million and by less than $1.5 million, respectively.
+Added: The sensitivity analysis indicated that a hypothetical 10% movement in foreign currency exchange rates would change the amount of cash and cash equivalents and accounts receivable that we would report in U.S.
+Added: Dollars as of December 31, 2022 and December 31, 2021 by approximately $6.0 million and $2.4 million, respectively.
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.