9 unchanged sentences
The retrospective and prospective regression analyses provided that changes in the prices of diesel fuel and ULSD were deemed to be highly effective based on the relevant authoritative guidance.
−Removed: As of December 31, 2020, we have $0.2 million of remaining fuel hedge contracts classified as other assets in our consolidated balance sheet. We do not engage in speculative transactions, nor do we hold or issue financial instruments for trading purposes.
+Added: As of December 31, 2021, we have no remaining fuel hedge contracts in our consolidated balance sheet. We do not engage in speculative transactions, nor do we hold or issue financial instruments for trading purposes.
A one dollar increase in the price of diesel per gallon would decrease our net income by $2.1 million.
−Removed: This sensitivity analysis considers that we expect to purchase approximately 42.3 million gallons of diesel annually, with an assumed fuel surcharge recovery rate of 80.5% of the cost (which was our fuel surcharge recovery rate during the year ended December 31, 2020).
+Added: This sensitivity analysis considers that we expect to purchase approximately 38.9 million gallons of diesel annually, with an assumed fuel surcharge recovery rate of 92.7% of the cost (which was our fuel surcharge recovery rate during the year ended December 31, 2021).
INTEREST RATE RISK
9 unchanged sentences
Variable-rate obligations expose us to the risk that interest rates might rise.
−Removed: Of our total $110.4 million of debt including operating and finance leases, we had $31.5 million of variable rate debt outstanding at December 31, 2020, including our Credit Facility, a real-estate note and certain equipment notes, of which the real-estate note of $23.8 million was hedged with the interest rate swap agreement noted above at 4.2% and certain of our equipment notes totaling $7.7 million were hedged at a weighted average interest rate of 2.9%.
+Added: Of our total $74.3 million of debt including operating and finance leases, we had $26.1 million of variable rate debt outstanding at December 31, 2021, including our Credit Facility, a real-estate note and certain equipment notes, of which the real-estate note of $21.5 million was hedged with the interest rate swap agreement noted above at 4.2% and certain of our equipment notes totaling $4.5 million were hedged at a weighted average interest rate of 2.9%.
Our earnings would be affected by changes in these short-term interest rates.
3 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.