1 unchanged sentence
Interest Rate Sensitivity
−Removed: We had cash and cash equivalents of $77.8 million and $238.1 million as of March 31, 2020 and June 30, 2019, respectively.
+Added: We had cash and cash equivalents of $128.4 million and $142.6 million as of September 30, 2020 and June 30, 2020, respectively.
Cash and cash equivalents include securities that have a maturity of three months or less at the date of purchase.
1 unchanged sentence
The fair value of our cash and cash equivalents would not be significantly affected by either a 10% increase or decrease in interest rates due mainly to the short-term nature of these instruments.
−Removed: We are exposed to interest rates risks primarily through borrowing under our Credit Agreement.
+Added: We are exposed to interest rates risks primarily through borrowing under our credit facility.
Interest on our borrowings is based on variable rates.
−Removed: Based on a sensitivity analysis, as of March 31, 2020, an instantaneous and sustained 200-basis-point increase in interest rates affecting our floating rate debt obligations, and assuming that we take no counteractive measures, would result in an incremental charge to our income before income taxes of approximately $13.9 million over the next twelve months.
−Removed: Our investments are primarily invested in money market funds, corporate bonds, U.S.
−Removed: agency bonds and commercial papers and we do not enter into investments for trading or speculative purposes.
−Removed: The principal objectives of our investment activities are to preserve principal, provide liquidity and maximize income consistent with minimizing risk of material loss.
−Removed: We are exposed to market risk related to changes in interest rates where a decline in interest rates would reduce our interest income and conversely, an increase in interest rates would have an adverse impact on the fair value of our investment portfolio.
−Removed: The effect of a hypothetical 100 basis points increase or decrease in overall interest rate would not materially change the total fair value of the portfolio due to the conservative and short-term nature of these investments.
−Removed: As of March 31, 2020, the Company held $12.6 million in total investments, which consists of various fixed income available-for-sale securities.
+Added: Based on a sensitivity analysis, as of September 30, 2020, an instantaneous and sustained 200-basis-point increase in interest rates affecting our floating rate debt obligations, and assuming that we take no counteractive measures, would result in an incremental charge to our income before income taxes of approximately $12.8 million over the next twelve months.
Foreign Currency Risk
−Removed: Our sales are denominated in U.S.
−Removed: dollars, and therefore, our revenues are not directly subject to foreign currency risk.
−Removed: Certain of our operating expenses are denominated in the currencies of the countries in which our operations are located, and may be
−Removed: subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Chinese Yuan, Euro, and Taiwan Dollar.
+Added: The vast majority of our sales are denominated in U.S.
+Added: dollars, and therefore, our revenues are not directly subject to foreign currency
+Added: Certain of our operating expenses are denominated in the currencies of the countries in which our operations are located, and may be subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Chinese Yuan, Euro, and Taiwan Dollar.
A 10% appreciation or depreciation in the value of the U.S.
−Removed: dollar relative to the other currencies in which our expenses are denominated would result in a charge to our income before income taxes of approximately $1.6 million.
+Added: dollar relative to the other currencies in which our expenses are denominated would result in a charge or benefit to our income before income taxes of approximately $1.9 million.
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.