Item 7A. Quantitative and Qualitative Disclosures About Market Risk
ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The Company had manufacturing operations, including related assets, in the U.S. denominated in the U.S. Dollar (USD), in Ireland denominated in the Euro (EUR), and in England denominated in the British Pound (GBP). UTMD also has trading activities in the U.S. and in subsidiaries in other countries denominated in the USD, EUR, GBP, the Australian Dollar (AUD) and the Canadian Dollar (CAD). The currencies are subject to exchange rate fluctuations that are beyond the control of UTMD. The exchange rates were .8790, .8178 and .8907 EUR per USD as of December 31, 2021, 2020 and 2019, respectively. Exchange rates were .7388, .7319 and .7537 GBP per USD as of December 31, 2021, 2020 and 2019, respectively. Exchange rates were 1.3759, 1.2974 and 1.4226 AUD per USD on December 31, 2021, 2020 and 2019, respectively. Exchange rates were 1.2656, 1.2754 and 1.2962 CAD per USD on December 31, 2021, 2020, and 2019, respectively. Please see note 1 in Item, 8, below under “Translation of Foreign Currencies” for more information. UTMD manages its foreign currency risk without separate hedging transactions by either invoicing customers in the local currency where costs of production were incurred, or by converting currencies as transactions occur.
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