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We estimate that had the exchange rate in each country unfavorably changed by ten percent relative to the U.S.
−Removed: dollar, our consolidated income (loss) before taxes would have decreased by approximately $3.4 million for the nine months ended September 30, 2025.
+Added: dollar, our consolidated loss before taxes would have decreased by approximately $1.2 million for the three months ended March 31, 2026.
Interest Rate Risk
−Removed: Interest rate exposure relates primarily to the effect of interest rate changes on borrowings outstanding under the Term Loan Facility, Revolving Credit Facility and Notes.
+Added: Interest rate exposure relates primarily to the effect of interest rate changes on borrowings outstanding under the 2030 Term Loan Facility, the 2030 ABL and 2030 Notes.
We manage our interest rate risk through the use of derivative financial instruments.
Specifically, we have entered into interest rate collar agreements to manage our exposure to potential interest rate increases that may result from fluctuations in SOFR.
−Removed: We do not designate these derivatives as hedges for accounting purposes, and as a result, all changes in the fair value of derivatives, used to hedge interest rates, are recorded in “Interest expense, net” in our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).
−Removed: We have interest rate collar contracts with an aggregate notional value of principal of $700.0 million as of September 30, 2025, from various financial institutions to manage our exposure to interest rate movements on variable rate credit facilities.
−Removed: The interest rate collar contracts will mature on April 5, 2026, 2027 and 2028.
+Added: We do not designate these derivatives as hedges for accounting purposes, and as a result, all changes in the fair value of derivatives, used to hedge interest rates, are recorded in “Interest expense, net” in our condensed consolidated statements of operations and comprehensive loss.
+Added: We have interest rate collar contracts with an aggregate notional value of principal of $700.0 million as of March 31, 2026, from various financial institutions to manage our exposure to interest rate movements on variable rate credit facilities.
+Added: Interest rate collar contracts with notional value of principal of $300.0 million matured on April 5, 2026 with the remaining interest rate collar contracts maturing on April 5, 2027 and 2028.
In July 2024, we entered into two interest rate collar contracts with a notional value of principal of $200.0 million each.
The interest rate collar contracts are effective December 16, 2024 and will mature on April 5, 2027 and 2028.
−Removed: The aggregate fair value of our interest rate caps and collars represented an outstanding net liability of $0.7 million as of September 30, 2025.
−Removed: Holding other variables constant, a change of one-eighth percentage point in the weighted average interest rate above the floor of 0.75% on the Term Loan Facility and Revolving Credit Facility would have resulted in an increase of $1.0 million in interest expense, net of gains from interest rate caps and collars, for the nine months ended September 30, 2025.
+Added: The aggregate fair value of our interest rate caps and collars represented an outstanding net liability of $0.2 million as of March 31, 2026.
+Added: In April 2026, we entered into one interest rate collar contract with a notional value of principal of $100.0 million.
+Added: This interest rate collar will mature on April 8, 2029.
+Added: Holding other variables constant, a change of one-eighth percentage point in the weighted average interest rate above the floor of 0.75% on the 2030 Term Loan Facility and 2030 ABL would have resulted in an increase of $0.5 million in interest expense, net of gains from interest rate caps and collars, for the three months ended March 31, 2026.
In the future, in order to manage our interest rate risk, we may refinance our existing debt, enter into additional interest rate cap agreements or modify our existing interest rate cap agreement.
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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.