2 unchanged sentences
Our exposure to market risk for changes in interest rates relates primarily to our investment portfolio and potential borrowings under our credit facility that would bear variable market interest rates.
−Removed: The primary objectives of our investment activities are to preserve our principal while at the same time maximizing yields without significantly increasing risk.
−Removed: To achieve these objectives, we maintain our portfolio of cash equivalents and investments in a mix of instruments that meet high credit quality standards, as specified in our investment policy or otherwise approved by the Board of Directors.
+Added: The primary objectives of our investment activities are to preserve our principal while maximizing yields without significantly increasing risk.
+Added: To achieve these objectives, we maintain our portfolio of cash equivalents and investments in a mix of instruments that meet high credit quality standards, as specified in our investment policy or otherwise approved by the Board.
Our cash and cash equivalents are not subject to significant interest rate risk due to the short maturities of these instruments.
3 unchanged sentences
treasuries, money market funds, as well as demand deposit accounts with maturities within three months or less.
−Removed: Currently, we do not have interest rate risk on our outstanding
−Removed: long-term debt as these arrangements have fixed interest rates.
−Removed: As of December 31, 2023, the carrying value and the fair value of our fixed rate debt was $1.0 billion and $0.9 billion, respectively.
−Removed: This fixed rate debt matures as follows:
−Removed: $550.0 million in 2026 and $460.0 million in 2030.
−Removed: Interest rates have risen since these sources of financing were obtained, thus, we may not be able to refinance this fixed rate debt at similar rates when it matures.
−Removed: Further, our revolving credit agreement bears interest at variable rates, however, during 2023, we did not need to draw on this revolving credit agreement.
+Added: Currently, we do not have interest rate risk on our outstanding long-term debt as these arrangements have fixed interest rates.
+Added: As of December 31, 2024, the carrying value and the fair value of our fixed rate debt was $864.3 million and $820.1 million, respectively.
+Added: Following the Exchange Transaction, our fixed rate debt matures as follows:
+Added: $149.1 million in 2026, $263.1 million in 2028, and $460.0 million in 2030.
+Added: Interest rates have risen since certain of these sources of financing were obtained.
+Added: Thus, we may not be able to refinance this fixed rate debt at similar or favorable rates when it matures.
+Added: Further, our revolving credit agreement bears interest at variable rates.
+Added: However, during 2024, we did not need to draw on this revolving credit agreement.
If we need to draw on the revolving credit facility in the future, we will be exposed to interest rate changes.
2 unchanged sentences
To date, we have not entered into interest rate hedging transactions to control or minimize certain of these risks.
−Removed: Our investment in Consensus common stock, which has a carrying value of approximately $27.1 million as of December 31, 2023, is based upon the quoted market price of Consensus common stock.
−Removed: 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: Gains (losses) on the investment in Consensus common stock were as follows (in thousands):
−Removed: Year ended December 31,
−Removed: Realized gain (loss) on securities sold during the period
−Removed: $ 357 $ (46,743)
−Removed: Unrealized loss recognized during the period on equity securities held at the reporting date
−Removed: $ (28,495) $ (7,145)
−Removed: The carrying value of investment in Consensus common stock as of December 31, 2023 was $27.1 million, or approximately 0.8% of the Company’s consolidated total assets.
−Removed: 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.
+Added: During the year ended December 31, 2024, we sold our remaining investment in Consensus common stock.
+Added: The value of our investment in Consensus common stock was based upon the quoted market price of Consensus common stock.
+Added: Prior to the sale of this investment, our results of operations and financial condition were materially impacted by increases or decreases in the price of Consensus common stock, which is traded on the Nasdaq Global Select Market.
Foreign Currency Risk
2 unchanged sentences
Dollar, primarily the Canadian Dollar, the British Pound Sterling, the Australian Dollar, the Euro, the Japanese Yen, the Danish Krone, the Swedish Krona, and the Norwegian Krone.
−Removed: If we are unable to settle our intercompany debts in a timely manner, we remain exposed to foreign currency fluctuations.
+Added: If we are unable to settle our intercompany debts in a timely manner, we will remain exposed to foreign currency fluctuations.
As we expand our international presence, we become further exposed to foreign currency risk by entering new markets with additional foreign currencies.
7 unchanged sentences
For the years ended December 31, 2024, 2023 and 2022, foreign exchange (losses) gains amounted to $(1.0) million, $(3.9) million, and $8.2 million, respectively.
−Removed: Cumulative translation adjustments, net of tax, included in other comprehensive income for the years ended December 31, 2023, 2022, and 2021, were $13.7 million, $(32.5) million, and $(21.3) million respectively.
+Added: Cumulative translation adjustments, net of tax, included in Other comprehensive income (loss), net for the years ended December 31, 2024, 2023, and 2022, were $(12.4) million, $13.7 million, and $(32.5) 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.