3 unchanged sentences
In the first quarter of fiscal 2019, we entered into a four year interest rate collar contract with a notional value of $150.0 million to partially mitigate our exposure to interest rate fluctuations on our variable rate term loan debt.
−Removed: The collar establishes a range where we will pay the counter-party if the three-month LIBOR rate falls below the established floor rate of 1.5% , and the counter-party will pay us if the three-month LIBOR rate exceeds the ceiling rate of 3.3% .
+Added: The collar establishes a range where we will pay the counterparty if the three month LIBOR rate falls below the established floor rate of 1.5%, and the counterparty will pay us if the three month LIBOR rate exceeds the ceiling rate of 3.3%.
+Added: The collar settles quarterly through the termination date of September 30, 2022.
+Added: No payments or receipts are exchanged on the interest rate collar contract unless interest rates rise above or fall below the contracted ceiling or floor rates.
+Added: Throughout fiscal 2021, the three month LIBOR rate fell below the established floor, which required us to make $2.0 million in total cash payments to the counterparty.
Commodity Risk
5 unchanged sentences
Currency Risk
−Removed: The Company transacts substantially all of its sales in United States Dollars.
+Added: The Company transacts substantially all of its sales in U.S.
Our foreign customers have exposure to risks related to changes in foreign currency exchange rates on our sales in that region, due in part to the time elapsed between a fixed price order date and delivery/payment for the order.
2 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.