4 unchanged sentences
Our principal interest rate exposure relates to outstanding amounts under our New Senior Secured Credit Facility.
−Removed: Our New Senior Secured Credit Facility provides for variable rate borrowings of up to $962 million, including $319 million under our New Revolving Credit Facility, net of $275 million of revolving loans outstanding and $6 million of letters of credit.
−Removed: A one-eighth percent increase or decrease in assumed interest rates for the New Senior Secured Credit Facility, if fully drawn, as of June 30, 2020 would have an impact of approximately $1 million on interest expense per year.
−Removed: As of June 30, 2020, we had $275 million of outstanding borrowings against the New Revolving Credit Facility.
+Added: Our New Senior Secured Credit Facility provides for variable rate borrowings of up to $1,235 million, including $595 million under our New Revolving Credit Facility, net of $5 million of letters of credit.
+Added: A one-eighth percent increase or decrease in assumed interest rates for the New Senior Secured Credit Facility, if fully drawn, as of September 30, 2020 would have an impact of approximately $1 million on interest expense per year.
+Added: As of September 30, 2020, we had no outstanding borrowings against the New Revolving Credit Facility.
From time to time, we enter into interest rate swap agreements to hedge the risk associated with our variable interest rate debt.
During the first quarter of 2019, we entered into $250 million of interest rate swaps and designated them as cash flow hedges under the hypothetical derivative method.
−Removed: As of June 30, 2020, we held interest rate swaps effective from (i) September 2019 to September 2022 with notional values totaling $250 million and a weighted average LIBOR fixed rate of 3.01%, (ii) September 2019 to September 2025 with notional values totaling $250 million and a weighted average LIBOR fixed rate of 3.04% and (iii) September 2022 to September 2025 with notional values totaling $250 million and a weighted average LIBOR fixed rate of 2.82%.
+Added: As of September 30, 2020, we held interest rate swaps effective from (i) September 2019 to September 2022 with notional values totaling $250 million and a weighted average LIBOR fixed rate of 3.01%, (ii) September 2019 to September 2025 with notional values totaling $250 million and a weighted average LIBOR fixed rate of 3.04% and (iii) September 2022 to September 2025 with notional values totaling $250 million and a weighted average LIBOR fixed rate of 2.82%.
Exchange Rate Risk
6 unchanged sentences
We are subject to changes in our cost of sales caused by movements in underlying commodity prices.
−Removed: Approximately 64% of our cost of sales consists of purchased components with significant raw material content.
+Added: As of September 30, 2020, approximately 64% of our cost of sales consists of purchased components with significant raw material content.
A substantial portion of the purchased parts are made of aluminum and steel.
16 unchanged sentences
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.