7 unchanged sentences
Financial Statements and Supplementary Data—Note 24 – Concentration of Credit Risk and Major Customers."
−Removed: As of February 11, 2022, our nominal commitment under contract was approximately 33.1 million tons in 2022.
+Added: Our initial 2023 guidance includes 34.7 million priced and committed tons for delivery in 2023.
Our results of operations are highly dependent upon the prices we receive for our coal, oil and natural gas.
2 unchanged sentences
We experienced this during 2020 as lower sales price realizations, caused by lower global energy demand during the COVID-19 pandemic and actions of major oil producing countries, had a significant impact on our royalty revenues.
−Removed: Please see discussions above, "Item 7.
−Removed: Management's Discussion and Analysis of Financial Condition and Results of Operations"
−Removed: for more information regarding the impact of the COVID-19 pandemic on our operations.
We have exposure to coal and oil & gas sales prices and price risk for supplies that are used directly or indirectly in the normal course of coal and oil & gas production such as steel, electricity and other supplies.
4 unchanged sentences
Therefore, our credit risk is primarily with domestic electric power generators and reputable global brokerage firms.
−Removed: Our policy is to independently evaluate each customer's creditworthiness prior to entering into transactions and to constantly monitor outstanding accounts receivable against established credit limits.
+Added: Our policy is to independently evaluate each customer's creditworthiness prior to entering into transactions and to constantly monitor outstanding accounts receivable.
When deemed appropriate by our credit management department, we will take steps to reduce our credit exposure to customers that do not meet our credit standards or whose credit has deteriorated.
6 unchanged sentences
Almost all of our transactions are denominated in United States dollars, and as a result, we do not have material exposure to currency exchange-rate risks.
−Removed: However, because coal is sold internationally in United States dollars, general
−Removed: economic conditions in foreign markets and changes in foreign currency exchange rates may provide our foreign competitors with a competitive advantage.
+Added: However, because coal is sold internationally in United States dollars, general economic conditions in foreign markets and changes in foreign currency exchange rates may provide our foreign competitors with a competitive advantage.
If our competitors' currencies decline against the United States dollar or against foreign purchasers' local currencies, those competitors may be able to offer lower prices for coal to these purchasers.
2 unchanged sentences
Interest Rate Risk
−Removed: Borrowings under the Revolving Credit Facility and Securitization Facility are at variable rates and, as a result, we have interest rate exposure on any amounts drawn under these facilities.
+Added: Borrowings under the Revolving Credit Facility and Securitization Facility, as well as borrowings under the Replaced Credit Facility until it was terminated, are at variable rates and, as a result, we have interest rate exposure on any amounts drawn under these facilities.
Historically, our earnings have not been materially affected by changes in interest rates and we have not utilized interest rate derivative instruments related to our outstanding debt.
−Removed: We did not have an outstanding balance on either the Revolving Credit Facility or the Securitization Facility at December 31, 2021.
+Added: We did not have any outstanding borrowings on either the Replaced Credit Facility or the Securitization Facility at December 31, 2022.
With respect to our fixed-rate borrowings, we had $400.0 million in borrowings under our Senior Notes and $27.0 million in borrowings under our equipment financings at December 31, 2022.
1 unchanged sentence
The table below provides information about our market sensitive financial instruments and constitutes a "forward-looking statement."
−Removed: The fair values of long-term debt are estimated using discounted cash flow analyses, based upon our incremental borrowing rates for similar types of borrowing arrangements as of December 31, 2021 and 2020.
+Added: The fair values of long-term debt are estimated using discounted cash flow analyses, based on our incremental borrowing rates for similar types of borrowing arrangements as of December 31, 2022 and 2021.
The carrying amounts and fair values of financial instruments are as follows:
9 unchanged sentences
Weighted-average interest rate
−Removed: Variable rate debt
−Removed: Weighted-average interest rate (1)
−Removed: (1) Interest rate of variable rate debt equal to the rate effective at December 31, 2020, held constant for the remaining term of the outstanding borrowing.
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.