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For a discussion of our hedging strategies and market risks, see the discussion below and Note 10 - “Fair Value Measurements, Derivative Instruments and Hedging Activities and Financial Risks” in our consolidated financial statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations within our Form 10-K.
−Removed: Fuel Price Risks
−Removed: As of February 29, 2020, based on a 10% change in each of the fuel prices versus the spot price we estimate that our adjusted earnings per share would change by the following:
−Removed: Heavy Fuel Oil (“HFO”) impact:
−Removed: • $0.04 per share for the remaining three quarters of 2020
−Removed: • $0.01 per share for the second quarter of 2020
−Removed: Marine Gasoil (“MGO”) impact:
−Removed: • $0.06 per share for the remaining three quarters of 2020
−Removed: • $0.03 per share for the second quarter of 2020
−Removed: Operational Currency Risks
−Removed: Our operations primarily utilize the U.S.
−Removed: dollar, Australian dollar, euro or sterling as their functional currencies.
−Removed: Our operations also have revenue and expenses denominated in non-functional currencies.
−Removed: Movements in foreign currency exchange rates will affect our financial statements.
−Removed: As of February 29, 2020, based on a 10% change in all currency exchange rates, we estimate that our adjusted earnings per share would change by the following:
−Removed: • $0.02 per share for the remaining three quarters of 2020
−Removed: • $(0.07) per share for the second quarter of 2020
Interest Rate Risks
−Removed: The composition of our debt, including the effect of foreign currency swaps and interest rate swaps, was as follows:
−Removed: February 29, 2020
+Added: The composition of our debt, including the effect of interest rate swaps, was as follows:
EUR fixed rate
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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.