6 unchanged sentences
At certain times, we have managed the risk of changes in natural gas prices through the use of derivative financial instruments.
−Removed: The derivative instruments that we may use for this purpose are primarily natural gas fixed price swaps, basis swaps and options.
+Added: The derivative instruments that we use for this purpose are primarily natural gas fixed price swaps, basis swaps and options.
These derivatives settle using primarily a NYMEX futures price index, which represents the basis for fair value at any given time.
The contracts represent anticipated natural gas needs for future periods and settlements are scheduled to coincide with anticipated natural gas purchases during those future periods.
−Removed: As of March 31, 2021, we had natural gas derivative contracts covering certain periods through March 2022.
−Removed: As of March 31, 2021 and December 31, 2020, we had open derivative contracts for 0.5 million MMBtus and 34.1 million MMBtus, respectively.
−Removed: A $1.00 per MMBtu increase in the forward curve prices of natural gas at March 31, 2021 would result in a favorable change in the fair value of these derivative positions of approximately $1 million, and a $1.00 per MMBtu decrease in the forward curve prices of natural gas would change their fair value unfavorably by approximately $1 million.
+Added: As of June 30, 2021, we had natural gas derivative contracts covering certain periods through March 2022.
+Added: As of June 30, 2021 and December 31, 2020, we had open derivative contracts for 6.8 million MMBtus and 34.1 million MMBtus, respectively.
+Added: A $1.00 per MMBtu increase in the forward curve prices of natural gas at June 30, 2021 would result in a favorable change in the fair value of these derivative positions of approximately $7 million, and a $1.00 per MMBtu decrease in the forward curve prices of natural gas would change their fair value unfavorably by approximately $7 million.
From time to time we may purchase nitrogen products on the open market to augment or replace production at our facilities.
Interest Rates
−Removed: As of March 31, 2021, we had five series of senior notes totaling $3.75 billion of principal outstanding with maturity dates of June 1, 2023, December 1, 2026, March 15, 2034, June 1, 2043 and March 15, 2044.
+Added: As of June 30, 2021, we had five series of senior notes totaling $3.75 billion of principal outstanding with maturity dates of June 1, 2023, December 1, 2026, March 15, 2034, June 1, 2043 and March 15, 2044.
The senior notes have fixed interest rates.
−Removed: As of March 31, 2021, the carrying value and fair value of our senior notes was approximately $3.71 billion and $4.22 billion, respectively.
+Added: As of June 30, 2021, the carrying value and fair value of our senior notes was approximately $3.71 billion and $4.37 billion, respectively.
Borrowings under the Revolving Credit Agreement bear current market rates of interest and we are subject to interest rate risk on such borrowings.
−Removed: There were no borrowings outstanding under the Revolving Credit Agreement as of March 31, 2021, or December 31, 2020, or during the three months ended March 31, 2021.
−Removed: We had $500 million of borrowings outstanding under the Revolving Credit Agreement as of March 31, 2020.
−Removed: Maximum borrowings under the Revolving Credit Agreement during the three months ended March 31, 2020 were $500 million.
−Removed: The weighted-average annual interest rate of borrowings under the Revolving Credit Agreement during the three months ended March 31, 2020 was 2.05%.
+Added: There were no borrowings outstanding under the Revolving Credit Agreement as of June 30, 2021, or December 31, 2020, or during the six months ended June 30, 2021.
+Added: Maximum borrowings under the Revolving Credit Agreement during the six months ended June 30, 2020 were $500 million.
+Added: The weighted-average annual interest rate of borrowings under the Revolving Credit Agreement during the six months ended June 30, 2020 was 2.05%.
Foreign Currency Exchange Rates
3 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.