2 unchanged sentences
These risks primarily include interest rate, foreign exchange and inflation risks, as well as risks relating to changes in the general economic conditions in the countries where we conduct business.
−Removed: The statement of operations impact is mitigated by having an offsetting liability in deferred revenue to partially or completely offset against the outstanding receivable if an account should become uncollectible.
+Added: Any impact on our statement of operations is mitigated by having an offsetting liability in deferred revenue to partially or completely offset against the outstanding receivable if an account should become uncollectible.
Our cash balances are kept in customary operating accounts, a portion of which are insured by the Federal Deposit Insurance Corporation, and uninsured money market accounts.
6 unchanged sentences
This objective is accomplished currently by making diversified investments, consisting only of money market mutual funds and certificates of deposit.
−Removed: In conjunction with our $350 million, 7 year, term loan, and subsequent entry into an additional $190 million in incremental term loans under the Credit Facility, we entered into interest rate swap agreement for the full seven-year term, effectively fixing our interest rate at 5.4%.
+Added: In conjunction with our $350 million, 7 year, term loan, and subsequent entry into an additional $190 million in incremental term loans under the Credit Facility, we entered into an interest rate swap agreement for the full seven-year term, effectively fixing our interest rate at 5.4%.
However, the interest rate associated with our $60 million, 5 year, revolving credit facility remains floating.
−Removed: As of March 31, 2023, we had an outstanding balance of $521.1 million under our Credit Facility.
−Removed: As there was no debt outstanding under our revolving credit facility as of March 31, 2023, a hypothetical change of 100 basis points would result in no change to total interest expense.
+Added: As of June 30, 2023, we had an outstanding balance of $519.8 million under our Credit Facility.
+Added: As there was no debt outstanding under our revolving credit facility as of June 30, 2023, a hypothetical change of 100 basis points would result in no change to total interest expense.
Foreign Currency Exchange Risk
2 unchanged sentences
As a result, we are exposed to foreign exchange rate fluctuations as the financial results of our international operations and our revenue and operating results could be adversely affected.
−Removed: The effect of a hypothetical 10% change in foreign currency exchange rates applicable to our business could have resulted in a change in revenue of $1.7 million for the three months ended March 31, 2023.
+Added: The effect of a hypothetical 10% change in foreign currency exchange rates applicable to our business could have resulted in a change in revenue of $4.1 million for the six months ended June 30, 2023.
To date, we have not engaged in any currency hedging strategies.
6 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.