4 unchanged sentences
General economic trends
−Removed: Our business is sensitive to consumer confidence and reductions in consumers' discretionary spending, which may result from challenging economic conditions, unemployment levels and other changes in the economy.
+Added: Our business is sensitive to consumer confidence and reductions in consumers' discretionary spending, which may result from challenging economic conditions, inflation, unemployment levels and other changes in the economy.
Demand for entertainment and leisure activities is sensitive to consumers’ disposable incomes, which can be adversely affected by economic conditions and unemployment levels.
2 unchanged sentences
Our primary exposure to market risk relates to changes in interest rates.
−Removed: On December 31, 2022, we had $2.1 billion outstanding under our Credit Agreement, which bears interest at LIBOR and SOFR based variable rates.
+Added: On December 31, 2023, we had $1.8 billion outstanding under our Credit Agreement, which bears interest at SOFR based variable rates.
We are exposed to market risk on variable rate debt due to potential adverse changes in these rates.
−Removed: Assuming the outstanding balance of the debt facility remains constant, a one-percentage point increase in the LIBOR or SOFR rate would reduce net income and cash flows from operating activities by $15.4 million.
−Removed: The phase-out of LIBOR for existing debit agreements is set for June 30, 2023.
−Removed: The Credit Agreement includes a general process for establishing an alternative reference rate to the extent LIBOR is phased out.
−Removed: The Company is in the process of transitioning its financing from LIBOR to alternative reference rates.
−Removed: These transition activities are not expected to have a material impact on the Company’s financial statements.
+Added: Assuming the outstanding balance of the debt facility remains constant, a one-percentage point increase in the SOFR rate would reduce net income and cash flows from operating activities by $12.9 million.
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.