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 $27.8 million of foreign currency assets as of June 30, 2024.
+Added: On a net basis, we had $52.4 million of foreign currency assets as of September 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 June 30, 2024, we had the following variable rate debt:
−Removed: (in thousands, except interest rates)
−Removed: Current Maturities of Long-Term Debt
−Removed: Foreign Bank Debt
−Removed: Long-term debt
−Removed: Credit agreement with borrowings outstanding, net of fixed rate portion, at an end of period interest rate of 7.06% in 2024, due in 2028 $ 20,000
−Removed: Foreign Bank Debt
−Removed: Total $ 20,510
+Added: On September 30, 2024, we had $10.1 million in variable rate debt:
Assuming borrowings were outstanding for an entire year, an increase of one percentage point in weighted average interest rates would increase interest expense by $0.1 million.
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 June 30, 2024.
−Removed: (See Note 14.
+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 5.06% at the time of our last borrowing, which was September 19, 2024.
Financial Instruments in the Notes to the Consolidated Financial Statements in Item 1, which is incorporated herein by reference.
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.