13 unchanged sentences
Our return on these investments is subject to interest rate fluctuations.
−Removed: As of December 31, 2019 , we had investments in debt securities with effective maturities greater than one year of approximately $22.7 million .
+Added: As of December 31, 2020, we had investments in debt securities with effective maturities greater than one year of approximately zero.
As of December 31, 2020 and December 31, 2019, we had cash and cash equivalent investments primarily in money market funds with maturities of 90 days or less of $242.7 million and $575.6 million, respectively.
We do not have interest rate risk on our outstanding long-term debt as these arrangements have fixed interest rates.
−Removed: On January 7, 2019, J2 Cloud Services, LLC entered into a Credit Agreement with certain lenders from time to time party thereto and MUFG Union Bank, N.A., as sole lead arranger and as administrative agent for the Lenders.
−Removed: Pursuant to the Credit Agreement, as amended in July and August, the Lenders provided J2 Cloud Services with the MUFG Credit Facility of $200.0 million through December 31, 2020.
−Removed: On November 15, 2019, the Company reduced its borrowing capacity from $200.0 million to $100.0 million .
−Removed: The proceeds of the MUFG Credit Facility are intended to be used for working capital and general corporate purposes of J2 Cloud and its subsidiaries, including to finance certain permitted acquisitions and capital expenditures in accordance with the terms of the Credit Agreement.
−Removed: As of December 31, 2019, zero was outstanding under the MUFG Credit Facility.
−Removed: At J2 Cloud’s option, amounts borrowed under the Credit Agreement will bear interest at either (i) a base rate equal to the greatest of (x) the Federal Funds Effective Rate (as defined in the Credit Agreement) in effect on such day plus 1/2 of 1% per annum, (y) the rate of interest per annum most recently announced by the Agent as its U.S.
−Removed: Dollar “Reference Rate” and (z) one month LIBOR plus 1.00% or (ii) a rate per annum equal to LIBOR divided by 1.00 minus the LIBOR Reserve Requirements (as defined in the Credit Agreement), in each case, plus an applicable margin.
−Removed: The applicable margin relating to any base rate loan will range from 0.50% to 1.50% and the applicable margin relating to any LIBOR loan will range from 1.50% to 2.50%, in each case, depending on the total leverage ratio of J2 Cloud.
−Removed: The final maturity of the MUFG Credit Facility will occur on January 7, 2024.
−Removed: J2 Cloud is permitted to make voluntary prepayments of the MUFG Credit Facility at any time without payment of a premium or penalty.
−Removed: If the LIBOR-based interest rates or Federal Funds Effective Rate would have increased by 100 basis points, annual interest expense would have increased by zero as it relates to our MUFG Credit Facility that bears variable market interest rates due to the fact there are no amounts outstanding under such facility at December 31, 2019.
We cannot ensure that future interest rate movements will not have a material adverse effect on our future business, prospects, financial condition, operating results and cash flows.
13 unchanged sentences
Our objective in managing foreign exchange risk is to minimize the potential exposure to changes that exchange rates might have on earnings, cash flows and financial position.
−Removed: For the years ended December 31, 2019 , 2018 and 2017 , foreign exchange losses amounted to $4.0 million , $2.3 million and $5.8 million , respectively.
−Removed: The increase in losses to our earnings in the current period were primarily attributable to increased inter-company balances between the periods in foreign subsidiaries that were in functional currencies other than the U.S.
+Added: For the years ended December 31, 2020, 2019 and 2018, foreign exchange gains (losses) amounted to $28.5 million, $(4.0) million and $(2.3) million, respectively.
+Added: The change in our gains (losses) recognized in earnings from 2019 to 2020 were primarily attributable to the settlement of certain intra-entity transactions.
+Added: The increase in losses to our earnings from 2018 to 2019 were primarily attributable to increased inter-company balances between the periods in foreign subsidiaries that were in functional currencies other than the U.S.
Foreign exchange losses were not material to our earnings in 2019 and 2018, respectively.
3 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.