1 unchanged sentence
Interest Rate Risk
−Removed: We had cash and cash equivalents of $277.7 million as of March 31, 2021.
+Added: We had cash and cash equivalents of $103.7 million as of June 30, 2021.
In addition, the Company received proceeds, net of underwriter fees, from its Offering of $423.0 million on July 31, 2020, which it used to pay off outstanding debt of $175.0 million resulting in the Company having no outstanding bank debt after such redemption.
1 unchanged sentence
Due to the short-term nature of these instruments, we believe that we do not have any material exposure to changes in the fair value of our investment portfolio as a result of changes in interest rates.
−Removed: Declines in interest rates, however, would reduce future interest income.
+Added: Declines in interest rates would reduce future interest income by an insignificant amount.
We are exposed to risk related to changes in interest rates.
Borrowings under the bank credit agreement bear interest at rates that are variable.
−Removed: Increases in the bank prime or LIBOR rates would increase the interest rate on any outstanding borrowings.
+Added: We have no outstanding borrowings.
+Added: Increases in the bank prime or LIBOR rates would increase the interest rate on any future outstanding borrowings.
Any debt we incur in the future may also bear interest at variable rates.
+Added: Based on no outstanding borrowings as of June 30, 2021, increases in the bank prime or LIBOR rates would not result in a significant increase in interest expense.
Foreign Currency Exchange Risk
−Removed: Our revenue and expenses are primarily denominated in U.S.
+Added: Our revenues and expenses are primarily denominated in U.S.
For our foreign operations, the majority of our revenues and expenses are denominated in other currencies, such as the Canadian Dollar, Euro, British Pound, Swedish Krona and Brazilian Real.
Decreases in the relative value of the U.S.
−Removed: dollar as compared to these currencies may negatively affect our revenue and other operating results as expressed in U.S.
−Removed: For the three months ended March 31, 2021 and 2020, approximately 1% of our revenues were generated in currencies other than U.S.
−Removed: dollars in each respective period.
−Removed: We have experienced and will continue to experience fluctuations in our net (loss) income as a result of transaction gains or losses related to revaluing certain current asset and current liability balances that are denominated in currencies
−Removed: other than the functional currency of the entities in which they are recorded.
+Added: dollar as compared to these currencies may negatively affect our revenues and other operating results as expressed in U.S.
+Added: For the six months ended June 30, 2021 and 2020, approximately 2% and 1%, respectively, of our revenues were denominated in currencies other than U.S.
+Added: We have experienced and will continue to experience fluctuations in our net income or loss as a result of transaction gains or losses related to revaluing certain current asset and current liability balances that are denominated in currencies other than the functional currency of the entities in which they are recorded.
We have historically recognized immaterial amounts of foreign currency gains and losses in each of the periods presented.
7 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.