5 unchanged sentences
Interest rate fluctuations expose variable-rate debt of the organization to changes in interest expense and cash flows.
−Removed: Our long-term debt as of August 31, 2020 consisted primarily of variable-rate obligations, whereas as of August 31, 2021, our long-term debt consisted of fixed-rate senior unsecured notes.
+Added: As of August 31, 2022, our long-term debt consisted primarily of fixed-rate senior unsecured notes.
A fluctuation in interest rates would not affect interest expense or cash flows related to the Company’s fixed-rate debt.
However, a 10% increase in market interest rates at August 31, 2022 would have decreased the estimated fair value of our senior unsecured notes by approximately $14.9 million.
+Added: Additionally, as of August 31, 2022, we had $18.0 million of borrowings outstanding on our credit facility.
+Added: Interest incurred on these borrowings is not significant to our overall results of operations.
See the Debt and Lines of Credit footnote of the Notes to Consolidated Financial Statements contained in this Form 10-K for additional information.
12 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.