11 unchanged sentences
This amount includes, on an absolute basis, exposures to assets and liabilities held in currencies other than our local entities’ functional currencies.
−Removed: On a net basis, we had $55.6 million of foreign currency assets as of March 31, 2024.
+Added: On a net basis, we had $27.8 million of foreign currency assets as of June 30, 2024.
As currency rates change, these nonfunctional currency balances are revalued, and the corresponding adjustment is recorded in the income statement.
3 unchanged sentences
We are exposed to interest rate fluctuations with respect to our variable rate debt, depending on general economic conditions.
−Removed: On March 31, 2024, we had the following variable rate debt:
+Added: On June 30, 2024, we had the following variable rate debt:
(in thousands, except interest rates)
7 unchanged sentences
To manage interest rate risk, we may periodically enter into interest rate swap agreements to effectively fix the interest rates on variable debt to a specific rate for a period of time.
−Removed: Our current interest rate swap agreements expire in October 2024, which will result in a significant increase in our interest cost, which will be calculated using a floating rate based on the one-month term SOFR at that time, which was 5.33% as of March 31, 2024.
+Added: Our current interest rate swap agreements expire in October 2024, which will result in a significant increase in our interest cost, which will be calculated using a floating rate based on the one-month term SOFR at that time, which was 5.33% as of June 30, 2024.
(See Note 14.
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.