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What changed 10-K
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
2024-03-12 compared with 2023-03-31 · 1 added, 1 removed, 29 unchanged (6% of the section changed)
12 unchanged sentences
We are exposed to the market risk related to fluctuations in interest rates and market prices for our cash equivalents.
−Removed: We are also exposed to interest rate risk in connection with borrowings under our Amended 2019 Credit Agreement, which bear interest at a floating rate based on one-month LIBOR plus an applicable borrowing margin.
+Added: We are also exposed to interest rate risk in connection with borrowings under our Amended 2019 Credit Agreement, which bear interest at a floating rate based on one-month SOFR plus an applicable borrowing margin.
As of December 31, 2023, a 1.0% increase in interest rate would result in $9.7 million increase in total interest payable over the remaining life of the Amended 2019 Credit Agreement in the event we were to draw down the entire capacity of our revolving credit facility.
15 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.