QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
−Removed: We are exposed to various market risks, including
−Removed: changes in commodity prices as discussed below.
−Removed: Market risk is the potential loss arising from adverse changes in market rates and prices.
−Removed: In the ordinary course of business, we may enter into various types of transactions involving financial instruments to manage and reduce
−Removed: the impact of changes in commodity prices.
+Added: We are exposed to various
+Added: market risks, including changes in commodity prices as discussed below.
+Added: Market risk is the potential loss arising from adverse changes
+Added: in market rates and prices.
+Added: In the ordinary course of business, we may enter into various types of transactions involving financial instruments
+Added: to manage and reduce the impact of changes in commodity prices.
We do not have material exposure to interest rate risk.
−Removed: We do not expect to have any exposure
−Removed: to foreign currency risk as we conduct all of our transactions in U.S.
+Added: We do not expect
+Added: to have any exposure to foreign currency risk as we conduct all of our transactions in U.S.
We produce alcohol and essential ingredients.
39 unchanged sentences
We recognized net gains of $21.2 million and $18.4 million related to the changes in the fair values
−Removed: of these contracts for the six months ended June 30, 2022 and 2021, respectively.
−Removed: At June 30, 2022, we prepared a sensitivity analysis
−Removed: to estimate our exposure to ethanol and corn.
−Removed: Market risk related to these factors was estimated as the potential change in pre-tax income
−Removed: resulting from a hypothetical 10% adverse change in the prices of our expected ethanol and corn volumes.
−Removed: The analysis uses average CBOT
−Removed: prices for the year and does not factor in future contracted volumes.
−Removed: The results of this analysis for the six months ended June 30, 2022,
−Removed: which may differ materially from actual results, are as follows (in millions):
+Added: of these contracts for the nine months ended September 30, 2022 and 2021, respectively.
+Added: At September 30, 2022, we prepared a sensitivity
+Added: analysis to estimate our exposure to ethanol and corn costs.
+Added: Market risk related to these factors was estimated as the potential change
+Added: in pre-tax income resulting from a hypothetical 10% adverse change in the prices of our expected ethanol and corn volumes.
+Added: uses average CBOT prices for the year and does not factor in future contracted volumes.
+Added: The results of this analysis for the nine months
+Added: ended September 30, 2022, which may differ materially from actual results, are as follows (in millions):
Unit of Measure
−Removed: Approximate Adverse Change to
−Removed: Pre-Tax Income
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.