9 unchanged sentences
Our primary exposure to market risk relates to changes in interest rates.
−Removed: At December 31, 2019, we had $392.0 million outstanding under our 2017 Credit Agreement, which bears interest at LIBOR based variable rates.
+Added: On December 31, 2020, we had $537.6 million outstanding under our Credit Agreement, which bears interest at LIBOR based variable rates.
We are exposed to market risk on variable rate debt due to potential adverse changes in these rates.
Assuming the outstanding balance of the debt facility remains constant, a one-percentage point increase in the LIBOR rate would reduce net income and cash flows from operating activities by $3.8 million.
−Removed: As was announced in July 2017, LIBOR is anticipated to be phased out by the end of 2021.
+Added: LIBOR is anticipated to be phased out by the end of 2022.
We are unable to predict the use of alternative reference rates and corresponding interest rate risk at this time.
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.