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 September 30, 2023, we did not post collateral under any of our derivative contracts as they are secured under our Term Loan Agreement, as amended.
+Added: As of March 31, 2024, we did not post collateral under any of our derivative contracts as they are secured under our Term Loan Agreement, as amended.
We account for our derivative activities on the balance sheet as either an asset or liability measured at fair value.
2 unchanged sentences
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.
−Removed: 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.
+Added: The estimated fair value of cash,
+Added: cash equivalents and restricted cash, accounts receivable and accounts payable approximates their carrying value due to their short-term nature.
Condensed Consolidated Financial Statements (Unaudited) —Note 5, “ Fair Value Measurements,” for additional information.
2 unchanged sentences
Our interest rate risk exposure results primarily from fluctuations in short-term rates, which are SOFR (and previously, the London Interbank Offered Rate or “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 September 30, 2023 , the principal amount of our term loan debt was $210.2 million, of which substantially all bears interest at floating and variable interest rates that are tied to SOFR.
+Added: At March 31, 2024, the principal amount of our term loan debt was $190.0 million, of which substantially all bears interest at floating and variable interest rates that are tied to SOFR.
Fluctuations in market interest rates will cause our annual interest costs to fluctuate.
−Removed: At September 30, 2023 , the weighted average interest rate on our variable rate debt was 12.68% per year.
−Removed: If the balance of our variable interest rate debt at September 30, 2023 were to remain constant, a 10% change in market interest rates would impact our cash flows by approximately $2.8 million per year .
+Added: At March 31, 2024, the weighted average interest rate on our variable rate debt was 12.97% per year.
+Added: If the balance of our variable interest rate debt at March 31, 2024 were to remain constant, a 10% change in market interest rates would impact our cash flows by approximately $2.6 million per yea r .
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.