1 unchanged sentence
In the normal course of business, we are subject to market risks.
−Removed: Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and sales.
+Added: Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices.
Our exposure to market risk includes fluctuating interest rates and changes in foreign exchange rates.
Interest Rate Risk
−Removed: We are exposed to the risk that our earnings and cash flows could be adversely impacted by fluctuations in interest rates associated with borrowings under our Amended and Restated Credit Agreement, or the Credit Facility, which has variable interest rates tied to LIBOR.
−Removed: As of December 31, 2022, we had no outstanding variable rate borrowings under our Credit Facility.
−Removed: Therefore, a ten percent increase in the average interest rate affecting our variable rate debt outstanding as of December 31, 2022 would not have had a material impact on our interest expense, financial position or continuing operations.
+Added: We are exposed to the risk that our earnings and cash flows could be adversely impacted by fluctuations in interest rates associated with borrowings under our Revolving Credit Agreement and the Equipment Loan, which have variable interest rates tied to SOFR.
+Added: As of December 31, 2023, we had $29.0 million outstanding variable rate borrowings under the Revolving Credit Agreement and $8.6 million outstanding variable rate borrowings under the Equipment Loan.
+Added: A ten percent increase in the average interest rate affecting our variable rate debt outstanding as of December 31, 2023 would increase our annual interest expense by $0.4 million.
Foreign Currency Exchange Risk
5 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.