5 unchanged sentences
As a result, our operating results and cash flows are subject to fluctuations due to changes in foreign currency exchange rates.
−Removed: As of July 31, 2022, our most significant currency exposures were the euro, British pound, Canadian dollar, and Australian dollar.
+Added: As of October 31, 2022, our most significant currency exposures were the euro, British pound, Canadian dollar, and Australian dollar.
Due to our exposure to market risks that may result from changes in foreign currency exchange rates, we enter into foreign currency derivative hedging transactions to mitigate these risks.
1 unchanged sentence
Interest Rate Risk on our Investments
−Removed: We had cash, cash equivalents, and marketable securities totaling $6.3 billion and $3.6 billion as of July 31, 2022, and January 31, 2022, respectively.
+Added: We had cash, cash equivalents, and marketable securities totaling $5.5 billion and $3.6 billion as of October 31, 2022, and January 31, 2022, respectively.
Cash equivalents and marketable securities were invested primarily in U.S.
8 unchanged sentences
Our debt securities are classified as “available-for-sale.” When the fair value of the security declines below its amortized cost basis, any portion of that decline attributable to credit losses, to the extent expected to be nonrecoverable before the sale of the impaired security, is recognized on the Condensed Consolidated Statements of Operations.
−Removed: An immediate increase of 100 basis points in interest rates would have resulted in a $16 million and $11 million market value reduction in our investment portfolio as of July 31, 2022, and January 31, 2022, respectively.
+Added: An immediate increase of 100 basis points in interest rates would have resulted in a $20 million and $11 million market value reduction in our investment portfolio as of October 31, 2022, and January 31, 2022, respectively.
This estimate is based on a sensitivity model that measures market value changes when changes in interest rates occur.
Interest Rate Risk on our Debt
−Removed: The Senior Notes and 2022 Notes have fixed annual interest rates, and therefore we do not have economic interest rate exposure on these debt obligations.
−Removed: However, the fair values of the Senior Notes and 2022 Notes are exposed to interest rate risk.
−Removed: Generally, the fair values of the Senior Notes and 2022 Notes will increase as interest rates fall and decrease as interest rates rise.
−Removed: In addition, the fair value of the 2022 Notes is affected by our stock price since it is a convertible debt instrument.
+Added: The Senior Notes have fixed annual interest rates, and therefore we do not have economic interest rate exposure on these debt obligations.
+Added: However, the fair values of the Senior Notes are exposed to interest rate risk.
+Added: Generally, the fair values of the Senior Notes will increase as interest rates fall and decrease as interest rates rise.
Borrowings under our 2022 Credit Agreement will bear interest, at our option, at a base rate plus a margin of 0.000% to 0.500% or a SOFR rate plus 10 basis points, plus a margin of 0.750% to 1.500%, with such margin being determined based on our consolidated leverage ratio or debt rating.
2 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.