11 unchanged sentences
Our cash and cash equivalents are not subject to significant interest rate risk due to the short maturities of these instruments.
−Removed: As of September 30, 2022, the carrying value of our cash and cash equivalents approximated fair value.
+Added: As of March 31, 2023, the carrying value of our cash and cash equivalents approximated fair value.
Our return on these investments is subject to interest rate fluctuations.
−Removed: As of September 30, 2022 and December 31, 2021, we had cash and cash equivalent investments primarily in demand deposit accounts with maturities of 90 days or less of $621.9 million and $694.8 million, respectively.
+Added: As of March 31, 2023 and December 31, 2022, we had cash and cash equivalent investments primarily in funds that invest in U.S.
+Added: treasuries, money market funds, as well as, demand deposit accounts with maturities of 90 days or less of $721.5 million and $652.8 million, respectively.
We do not have interest rate risk on our outstanding long-term debt as these arrangements have fixed interest rates.
1 unchanged sentence
To date, we have not entered into interest rate hedging transactions to control or minimize certain of these risks.
−Removed: In connection with the Separation, we retained an interest in Consensus, which was valued at approximately $54.9 million as of September 30, 2022, based upon the quoted market price of Consensus common stock.
+Added: Our investment in Consensus, which has a carrying value of approximately $35.3 million as of March 31, 2023, is based upon the quoted market price of Consensus common stock.
Our results of operations and financial condition have been and may be materially impacted by increases or decreases in the price of Consensus common stock, which is traded on the Nasdaq Global Select Market.
−Removed: The Company recorded a realized gain of approximately $0.5 million and an unrealized gain of approximately $4.2 million on its investment in Consensus during the three months ended September 30, 2022.
−Removed: The Company recorded a realized loss of approximately $47.8 million and an unrealized loss of approximately $14.2 million on its investment in Consensus during the nine months ended September 30, 2022.
−Removed: The carrying value of our investment in Consensus at September 30, 2022 was $54.9 million, or approximately 1.6% of the Company’s consolidated total assets.
+Added: Gains (losses) on the investment in Consensus were as follows (in thousands):
+Added: Three months ended March 31,
+Added: Realized gains on securities sold during the period $ 357 $ —
+Added: Unrealized (loss) gain recognized during the period on equity securities held at the reporting date $ (20,345) $ 8,951
+Added: The carrying value of the investment in Consensus as of March 31, 2023 was $35.3 million, or approximately 1.0% of the Company’s consolidated total assets.
A $2.00 increase or decrease in the share price of Consensus common stock would result in an unrealized gain or loss, respectively, of approximately $2.1 million.
2 unchanged sentences
Our principal exposure to foreign currency risk relates to investment and inter-company debt in foreign subsidiaries that transact business in functional currencies other than the U.S.
−Removed: Dollar, primarily the Canadian Dollar, the British Pound Sterling, Australian Dollar, the Euro, the Japanese Yen, the New Zealand Dollar, and the Norwegian Kroner.
+Added: Dollar, primarily Canadian Dollar, British Pound Sterling, the Australian Dollar, Euro, Japanese Yen, the New Zealand Dollar, and the Norwegian Kroner.
If we are unable to settle our inter-company debts in a timely manner, we remain exposed to foreign currency fluctuations.
3 unchanged sentences
As currency exchange rates change, translation of the income statements of the international businesses into U.S.
−Removed: Dollars affects year-over-year comparability of operating results, the impact of which is immaterial to the comparisons set forth in this Quarterly Report on Form 10-Q.
+Added: Dollars affects year-over-year comparability of operating results.
Historically, we have not hedged translation risks because cash flows from international operations were generally reinvested locally;
1 unchanged sentence
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: During the three months ended September 30, 2022 and 2021, foreign exchange gains amounted to $3.4 million and $0.2 million, respectively.
−Removed: During the nine months ended September 30, 2022 and 2021, foreign exchange gains (losses) amounted to $12.3 million and ($0.6 million), respectively.
−Removed: Cumulative translation adjustments, net of tax, included in other comprehensive income for the three months ended September 30, 2022 and 2021 were $24.8 million and $11.1 million, respectively, and for the nine months ended September 30, 2022 and 2021 were $55.3 million and $16.3 million, respectively
+Added: During the three months ended March 31, 2023 and 2022, foreign exchange gains amounted to $0.8 million and $2.3 million, respectively.
+Added: Cumulative translation adjustments, net of tax, included in other comprehensive (loss) income for the three months ended March 31, 2023 and 2022 were $(3.7) million and $6.3 million, respectively.
We currently do not have derivative financial instruments for hedging, speculative, or trading purposes and, therefore, are not subject to such hedging risk.
1 unchanged sentence
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.