13 unchanged sentences
If the fair value of the Swap Agreement exceeds a net liability of $61.7 million, we will be required to deposit additional funds with the counterparty equal to the net liability that is in excess of $61.7 million.
−Removed: As of December 31, 2021, the fair value of the Swap Agreement was a net liability of $9.0 million, as a result, $9.0 million of the $20.0 million deposit was restricted and $11.0 million was unrestricted.
−Removed: A 1.0% change in interest rates as of December 31, 2021 would impact our interest expense related to our Swap Agreement by approximately $20.4 million.
+Added: As of December 31, 2022, the fair value of the Swap Agreement was a liability of $52.1 million, as a result, $52.1 million of the $61.7 million deposit was restricted and $9.6 million was unrestricted.
+Added: A 1.0% change in interest rates as of December 31, 2022 would impact the change in our valuation of our Swap Agreement by approximately $15.3 million.
Interest Income
1 unchanged sentence
However, based upon the nature and current level of our investments, which consist of cash, cash equivalents and restricted cash, we believe that there is no material interest rate exposure related to our investments.
+Added: Page 38 of 75
Foreign Currency Exchange Risk
−Removed: Our operations outside of the United States and our 2024 Notes expose us to potentially unfavorable adverse movements in foreign currency rate changes.
+Added: Our operations outside of the United States expose us to potentially unfavorable adverse movements in foreign currency rate changes.
We have not entered into forward exchange contracts related to our foreign currency exposure.
1 unchanged sentence
Therefore, our reported results are exposed to fluctuations in the exchange rates between the US dollar and the local currencies, in particular the Euro and the Canadian dollar.
−Removed: In addition, we may fund certain cash flow requirements of our international operations including our interest and principal payment obligations, while due in Euros, on our 2024 notes primarily in US dollars.
+Added: In addition, we may fund certain cash flow requirements of our international operations in US dollars.
Accordingly, in the event that the local currencies strengthen versus the US dollar to a greater extent than planned, the revenues, expenses and cash flow requirements associated with our international operations may be significantly higher in US-dollar terms than planned.
1 unchanged sentence
A 1.0% change in foreign exchange rates would impact our consolidated annual revenue by approximately $1.2 million.
−Removed: A 1% change in foreign exchange rates as of December 31, 2021 would impact the reported value of our 2024 Notes by approximately $4.0 million.
Changes in foreign currency rates could adversely and materially affect our operating results and cash flow.
1 unchanged sentence
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.