3 unchanged sentences
Refer to details noted above (see Note 20, Derivative Instruments and Hedging Activities ).
−Removed: Additionally, as of March 31, 2023, our borrowings were under a revolving loan bearing interest at a fluctuating rate as defined by the 2022 Credit Agreement plus an applicable rate (See Note 8, Revolving Loan ).
+Added: Additionally, as of June 30, 2023, our borrowings were under a revolving loan bearing interest at a fluctuating rate as defined by the 2022 Credit Agreement plus an applicable rate (See Note 8, Revolving Loan ).
The applicable rate is based upon our consolidated net leverage ratio, as defined in the 2022 Credit Agreement.
−Removed: A 100 basis point increase or decrease in interest rates, applied to our borrowings at March 31, 2023, would result in an increase or decrease in annual interest expense and a corresponding reduction or increase in cash flow of approxim ately $4,316.
−Removed: We a re exposed to commodity price risks, including prices of our primary raw materials.
−Removed: Our objective is to seek a reduction in the potential negative earnings impact of raw material pricing arising in our business activities.
+Added: A 100 basis point increase or decrease in interest rates, applied to our borrowings at June 30, 2023, would result in an increase or decrease in annual interest expense and a corresponding reduction or increase in cash flow of approxi mately $4,056.
+Added: We are exposed to commodity price risks, including prices of our primary raw materials.
+Added: Our objective is to seek a reduction i n the potential negative earnings impact of raw material pricing arising in our business activities.
We manage these financial exposures, where possible, through pricing and operational means.
3 unchanged sentences
In the second quarter of 2019, we began to manage our interest rate exposure through the use of derivative instruments.
−Removed: All of our derivative instruments are utilized for risk management purposes, and are not used for trading or speculative purposes.
−Removed: We have hedged a portion of our floating interest rate exposure using an interest rate swap (see Note 20, Derivative Instruments and Hedging Activities ).
−Removed: As of March 31, 2023, the notional amount of our outstanding interest rate swap was $108,569.
+Added: These derivatives were utilized for risk management purposes, and were not used for trading or speculative purposes.
+Added: We hedged a portion of our floating interest rate exposure using an interest rate swap (see Note 20, Derivative Instruments and Hedging Activities ), which settled on its maturity date of June 27, 2023.
Foreign Currency Exchange Risk
3 unchanged sentences
In 2019, we entered into a cross-currency swap, with a notional amount of $108,569, which we designated as a hedge of our net investment in Chemogas (see Note 20, Derivative Instruments and Hedging Activities ).
+Added: This derivative settled on its maturity date of June 27, 2023.
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.