3 unchanged sentences
Management is actively involved in monitoring exposure to market risk and developing and utilizing appropriate risk management techniques when appropriate and when available at a reasonable price.
−Removed: We are not exposed to any other significant market risks other than those related to COVID-19 which are described in more detail in Part 1, Item 1A “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021.
+Added: We are not exposed to any other significant market risks other than those related to COVID-19 and inflation which are described in more detail in Part 1, Item 1A, Risk Factors in this Form 10-K for the year ended December 31, 2022.
The following quantitative and qualitative information is provided about financial instruments to which we are a party at December 31, 2022 and from which we may incur future gains or losses from changes in market conditions.
9 unchanged sentences
Any further borrowings or voluntary prepayments against the Credit Facility or any change in the floating rate would cause a change in interest expense.
−Removed: We have the option to pay interest under our Credit Facility at either the prime rate or the LIBOR rate plus a margin.
−Removed: At December 31, 2021, the prime rate margin was equivalent to 0.75% and the LIBOR rate margin was 1.75%.
+Added: We have the option to pay interest under our Credit Facility at either the prime rate or the BSBY rate, plus an applicable margin based on our leverage ratio.
+Added: At December 31, 2022, the prime rate margin was equivalent to 2.375% and the BSBY rate margin was 3.375%.
Assuming the outstanding balance remains unchanged, a change of 100 basis points in our borrowing rate would result in a change in income before taxes of $1.9 million.
9 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.