America Online 2014 Annual Report Download - page 78

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AOL INC.
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Market risk is the potential gain or loss arising from changes in market rates and prices, which historically
for us, has been associated primarily with changes in foreign currency exchange rates. We transact business in
various foreign currencies which exposes us to the risk of fluctuations in foreign currency exchange rates.
Foreign currency exchange gains and losses are not material to our financial statements in 2014, 2013 and 2012.
At December 31, 2014, while the majority of our cash and accounts receivable balances were denominated in
U.S. dollars, cash and accounts receivable denominated in foreign currencies made up approximately 14% of
total cash and accounts receivable, including 6% in Euros, 3% in British pounds, 2% in Canadian dollars and 1%
in Japanese yen.
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