16 unchanged sentences
This creates foreign exchange exposure for us.
−Removed: As of May 31, 2023, we have hedged a portion of our exposure related to the anticipated cash flow requirements denominated in certain foreign currencies by entering into hedging contracts with institutions to acquire a total of PHP 42,640.0 million at a fixed price of $762.6 million at various dates through May 2025;
−Removed: and INR 23,550.0 million at a fixed price of $282.0 million at various dates through May 2025.
−Removed: The fair value of these derivative instruments as of May 31, 2023 is presented in Note 7 of the consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q.
−Removed: The potential loss in fair value at May 31, 2023 for such contracts resulting from a hypothetical 10% adverse change in the underlying foreign currency exchange rates is approximately $103.3 million.
+Added: As of August 31, 2023, we have hedged a portion of our exposure related to the anticipated cash flow requirements denominated in certain foreign currencies by entering into hedging contracts with institutions to acquire a total of PHP 40,940.0 million at a fixed price of $728.1 million at various dates through August 2025;
+Added: and INR 23,030.0 million at a fixed price of $274.0 million at various dates through August 2025.
+Added: The fair value of these derivative instruments as of August 31, 2023 is presented in Note 7 of the consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q.
+Added: The potential loss in fair value at August 31, 2023 for such contracts resulting from a hypothetical 10% adverse change in the underlying foreign currency exchange rates is approximately $99.5 million.
This loss would be substantially mitigated by corresponding gains on the underlying foreign currency exposures.
2 unchanged sentences
The purpose of these derivative instruments is to mitigate the risk of foreign currency exposure related to receivables, payables and intercompany transactions that are denominated in currencies that are different from the functional currencies of our respective legal entities that are party to the transactions.
−Removed: As of May 31, 2023, the fair value of these derivatives not designated as hedges was a net payable of $7.0 million.
+Added: As of August 31, 2023, the fair value of these derivatives not designated as hedges was a net payable of $11.6 million.
Interest Rate Risk
−Removed: At May 31, 2023, all of our outstanding debt under our senior credit facility and our Securitization Facility is variable rate debt, which exposes the Company to changes in interest rates.
+Added: At August 31, 2023, all of our outstanding debt under our Restated Credit Facility and our Securitization Facility is variable rate debt, which exposes the Company to changes in interest rates.
Holding other variables constant, including the total amount of outstanding indebtedness, a one hundred basis point increase in interest rates on our variable-rate debt would cause an estimated increase in interest expense of approximately $18.5 million per year.
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.