2 unchanged sentences
The Company predominantly manages its commodity price risk for its non-trading, long-term coal contract portfolio through the use of long-term coal supply agreements (those with terms longer than one year) to the extent possible, rather than through the use of derivative instruments.
−Removed: As of June 30, 2023, the Company had approximately 109 million tons of U.S.
+Added: As of September 30, 2023, the Company had approximately 112 million tons of U.S.
thermal coal priced and committed for 2023.
6 unchanged sentences
The Company’s sensitivity to market pricing in thermal coal markets is dependent on the duration of contracts.
−Removed: As of June 30, 2023, the Company had no coal derivative contracts related to its forecasted sales.
+Added: As of September 30, 2023, the Company had no coal derivative contracts related to its forecasted sales.
Historically, such financial contracts have included futures, forwards and options.
1 unchanged sentence
Foreign Currency Risk
−Removed: The Company has historically utilized currency forwards and options to hedge currency risk associated with anticipated Australian dollar expenditures.
+Added: The Company has historically utilized currency forwards and options to hedge currency risk associated with anticipated Australian dollar operating expenditures.
The accounting for these derivatives is discussed in Note 6.
“Derivatives and Fair Value Measurements” to the accompanying unaudited condensed consolidated financial statements.
−Removed: As of June 30, 2023, the Company held average rate options with an aggregate notional amount of $486.0 million Australian dollars to hedge currency risk associated with anticipated Australian dollar expenditures over the nine-month period ending March 31, 2024.
−Removed: As of June 30, 2023, the Company also held purchased collars with an aggregate notional amount of $514.0 million Australian dollars related to anticipated Australian dollar expenditures during the nine-month period ending March 31, 2024.
+Added: As of September 30, 2023, the Company held average rate options with an aggregate notional amount of $615.0 million Australian dollars to hedge currency risk associated with anticipated Australian dollar operating expenditures over the nine-month period ending June 30, 2024.
+Added: As of September 30, 2023, the Company also held purchased collars with an aggregate notional amount of $339.0 million Australian dollars related to anticipated Australian dollar operating expenditures during the six-month period ending March 31, 2024.
Assuming the Company had no foreign currency hedging instruments in place, its exposure in operating costs and expenses due to a $0.10 change in the Australian dollar/U.S.
1 unchanged sentence
Based upon the Australian dollar/U.S.
−Removed: dollar exchange rate at June 30, 2023, the currency option contracts outstanding at that date would limit the Company’s exposure to approximately $160 million with respect to a $0.10 increase in the exchange rate and approximately $165 million with respect to a $0.10 decrease in the exchange rate for the next twelve months.
+Added: dollar exchange rate at September 30, 2023, the currency option contracts outstanding at that date would limit the Company’s exposure to approximately $175 million with respect to a $0.10 increase in the exchange rate and approximately $180 million with respect to a $0.10 decrease in the exchange rate for the next twelve months.
Diesel Fuel Price Risk
1 unchanged sentence
A $10 per barrel change in the price of crude oil (the primary component of a refined diesel fuel product) would increase or decrease its annual diesel fuel costs by approximately $22 million based on its expected usage.
−Removed: As of June 30, 2023, the Company did not have any diesel fuel derivative instruments in place.
+Added: As of September 30, 2023, the Company did not have any diesel fuel derivative instruments in place.
The Company partially manages the price risk of diesel fuel through the use of cost pass-through contacts with certain customers.
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.