3 unchanged sentences
A change in the Federal Funds Rate, or the reference rate set by Bank of America, N.A., would affect the rate at which we could borrow funds under the credit facility.
−Removed: The balance outstanding under our credit facility at September 30, 2021 was $190.2 million, of which $105.2 million is subject to rate risk.
−Removed: If market rates were to increase or decrease 100 basis points from the levels at September 30, 2021, interest expense would increase or decrease approximately $1.1 million annually.
+Added: The balance outstanding under our credit facility at March 31, 2022 was $298.9 million, of which $183.9 million is subject to rate risk.
+Added: If market rates were to increase or decrease 100 basis points from the levels at March 31, 2022, interest expense would increase or decrease approximately $1.8 million annually.
We do not engage in trading market risk sensitive instruments.
2 unchanged sentences
These agreements involve the receipt or payment of floating rate amounts in exchange for fixed rate interest payments over the life of the agreements without an exchange of the underlying principal amounts.
−Removed: At September 30, 2021, we had three interest rate swaps with notional values, fixed rates of interest and expiration dates of (i) $20.0 million – 1.770% - May 2022, (ii) $15.0 million – 2.640% - June 2023, and (iii) $50.0 million – 0.885% - April 2025, respectively.
+Added: At March 31, 2022, we had four interest rate swaps with notional values, fixed rates of interest and expiration dates of (i) $20.0 million – 1.770% - May, 2022, (ii) $15.0 million – 2.640% - June, 2023, (iii) $50.0 million – 0.885% - April, 2025, and (iv) $30.0 million – 1.249% - December, 2026, respectively.
Management will continue to evaluate the potential use of interest rate swaps as we deem appropriate under certain operating and market conditions.
4 unchanged sentences
If an investment is deemed to be other-than-temporarily impaired due to credit loss, then the adjustment is recorded to “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Comprehensive Income.
−Removed: Refer to Note 6, Financial Instruments, and Note 7, Fair Value Measurements, to the accompanying condensed consolidated financial statements for further discussion regarding these investments and the related fair value assessments.
+Added: Refer to Note 6, Financial Instruments, and Note 7, Fair Value Measurements, to the accompanying unaudited condensed consolidated financial statements for further discussion regarding these investments and the related fair value assessments.
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.