11 unchanged sentences
It is our policy to enter into derivative contracts only with counterparties that are creditworthy institutions deemed by management as competitive market makers.
−Removed: As of March 31, 2022, we did not post collateral under any of our derivative contracts as they are secured under our Term Loan Agreement.
−Removed: We account for our derivative activities under the provisions of ASC 815, Derivatives and Hedging , (ASC 815).
−Removed: ASC 815 establishes accounting and reporting that every derivative instrument be recorded on the balance sheet as either an asset or liability measured at fair value.
+Added: As of June 30, 2022, we did not post collateral under any of our derivative contracts as they are secured under our Term Loan Agreement.
+Added: We account for our derivative activities on the balance sheet as either an asset or liability measured at fair value.
Condensed Consolidated Financial Statements (Unaudited) —Note 7, “Derivative and Hedging Activities,” for more details.
Fair Market Value of Financial Instruments
−Removed: The estimated fair values for financial instruments under ASC 825, Financial Instruments , (ASC 825) are determined at discrete points in time based on relevant market information.
−Removed: These estimates involve uncertainties and cannot be determined with precision.
+Added: The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information, involve uncertainties and cannot be determined with precision.
The estimated fair value of cash, cash equivalents and restricted cash, accounts receivable and accounts payable approximates their carrying value due to their short-term nature.
3 unchanged sentences
Our interest rate risk exposure results primarily from fluctuations in short-term rates, which are LIBOR based and may result in reductions of earnings or cash flows due to increases in the interest rates we pay on these obligations.
−Removed: At March 31, 2022, the principal amount of our debt was $200.0 million, which all bears interest at floating and variable interest rates that are tied to LIBOR.
+Added: At June 30, 2022, the principal amount of our debt was $220.0 million, which all bears interest at floating and variable interest rates that are tied to LIBOR.
Fluctuations in market interest rates will cause our annual interest costs to fluctuate.
−Removed: At March 31, 2022, the weighted average interest rate on our variable rate debt was 8.01% per year.
−Removed: If the balance of our variable interest rate at March 31, 2022 were to remain constant, a 10% change in market interest rates would impact our cash flows by approximately $1.6 million per year .
+Added: At June 30, 2022, the weighted average interest rate on our variable rate debt was 9.25% per year.
+Added: If the balance of our variable interest rate at June 30, 2022 were to remain constant, a 10% change in market interest rates would impact our cash flows by approximately $2.0 million per year .
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.