6 unchanged sentences
The risk related to interest rates for these accounts would produce less income than expected if market interest rates fall.
−Removed: Based on current interest rates, we do not believe we are exposed to significant downside risk related to a change in interest on our money market accounts at March 31, 2023.
−Removed: The interest rate risk related to borrowings under our line of credit is based on LIBOR plus an interest rate spread.
−Removed: The current pricing under the Pinnacle Agreement provides for an interest rate spread of 1.75% to 2.75% above LIBOR with a minimum LIBOR of 0.90%.
−Removed: The applicable interest rate under the Pinnacle Agreement was 7.375% at March 31, 2023.
−Removed: As of March 31, 2023, we had $16.1 million in borrowings outstanding under our revolving credit facility.
+Added: Based on current interest rates, we do not believe we are exposed to significant downside risk related to a change in interest on our money market accounts at June 30, 2023.
+Added: The interest rate risk related to borrowings under our line of credit was based on LIBOR plus an interest rate spread.
+Added: The pricing under the Pinnacle Agreement provides for an interest rate spread of 1.75% to 2.75% above LIBOR with a minimum LIBOR of 0.90%.
+Added: The LIBOR rate will no longer be used as of June 30, 2023, at which time the benchmark rate was changed from LIBOR to SOFR.
+Added: The applicable interest rate under the Pinnacle Agreement was 8.0% at June 30, 2023.
+Added: As of June 30, 2023, we had $13.1 million in borrowings outstanding under our revolving credit facility.
Exchange Rate Risk
2 unchanged sentences
We believe our exposure to foreign currency fluctuation is minimal as our purchases in foreign currency have a maximum exposure of 90 days based on invoice terms with a portion of the exposure being limited to 30 days based on the due date of the invoice.
−Removed: Foreign currency exchange gains and losses were immaterial for the three months ended March 31, 2023 and 2022.
+Added: Foreign currency exchange gains and losses were immaterial for the six months ended June 30, 2023 and 2022.
Neither a five percent increase nor decrease from current exchange rates would have a material effect on our operating results or financial condition.
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.