−Removed: ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
+Added: ITEM 3 - QUANTITATIVE AND QUALITATIVE
+Added: DISCLOSURES ABOUT MARKET RISK
The Company is subject to the risk of fluctuating interest rates in the normal course of business.
4 unchanged sentences
fixed rate of the long-term debt prior to such debt’s maturity.
−Removed: In addition, the Company has interest rate exposure on $60 million of variable rate lines of credit, with two banks, under which the interim bank loans payable at March 31, 2023 were
−Removed: approximately $21.6 million.
+Added: In addition, the Company has interest rate exposure on $60 million of variable rate lines of credit, with two banks.
+Added: As of June 30, 2023 there were not any outstanding balances on the
+Added: lines of credit.
An increase in the variable interest rates has resulted and is expected to continue to result in an increase in the cost of borrowing on these variable rate lines of credit.
−Removed: Also, changes in SOFR could affect our
−Removed: operating results and liquidity.
+Added: Also, changes in SOFR could affect our operating results
+Added: and liquidity.
We are also exposed to market risk associated with changes in commodity prices.
−Removed: Our risks associated with price increases in chemicals, electricity and other commodities are mitigated by our ability to recover our
−Removed: costs through rate increases to our customers.
+Added: Our risks associated with price increases in chemicals, electricity and other commodities are mitigated by our ability to recover our costs through rate
+Added: increases to our customers.
We have also sought to mitigate future significant electric price increases by signing multi-year supply contracts at fixed prices.
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.