Juno 2013 Annual Report Download - page 75

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income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net
income but only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other
amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures
required under GAAP that provide additional detail about those amounts. The adoption of this update did not have a material impact on our consolidated
financial statements.

—In July 2013, FASB issued ASU No. 2013-11, 
, as codified in ASC 740, . The amendments in this update state that an
unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax
asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. However, to the extent a net operating loss carryforward, a
similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional
income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and
the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a
liability and should not be combined with deferred tax assets. This ASU applies to all entities that have unrecognized tax benefits when a net operating
loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU will be effective for fiscal
years, and interim periods within those years, beginning after December 15, 2013. Early adoption is permitted. The amendments should be applied
prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. We are currently assessing the impact
of this update and believe that its adoption in the first quarter of 2014 will not have a material impact on our consolidated financial statements.

Inflation did not have a material impact on our consolidated revenues and results of operations during the years ended December 31, 2013, 2012
and 2011, and we do not currently anticipate that inflation will have a material impact on our consolidated revenues and results of operations for the year
ending December 31, 2014.

We are exposed to certain market risks arising from transactions in the normal course of business, principally risk associated with interest rate and
foreign currency exchange rate fluctuations.

While we do not currently maintain any short-term investments, we still maintain deposits, which are classified as cash equivalents. Therefore, our
interest income is sensitive to changes in the general level of U.S. and certain foreign interest rates. At December 31, 2013, the Company did not have
any fixed or floating rate debt obligations.

We transact business in foreign currencies, and we are exposed to risk resulting from fluctuations in foreign currency exchange rates, particularly
the Euro ("EUR") and the Indian Rupee ("INR") and, to a much lesser extent, the Swedish Krona ("SEK") and the Swiss Franc ("CHF"), which may
result in gains or losses reported in our results of operations. The volatilities in EUR, INR, SEK, and CHF (and
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