8 unchanged sentences
We are exposed to market risks related to fluctuations in interest rates on amounts borrowed under the Credit Facility.
−Removed: As of June 30, 2020, we had $48.8 million outstanding under our Term Loan and $30.0 million outstanding under our Revolving Loan.
+Added: As of December 31, 2020, we had $47.5 million outstanding under our Term Loan and nothing outstanding under our Revolving Loan.
Prior to May 4, 2020, borrowings under the Credit Facility bore interest rates based on an underlying variable benchmark plus applicable margin based on our total leverage ("ABR");
2 unchanged sentences
The amount of the applicable margin spread is a function of our leverage ratio and is reset monthly.
−Removed: Based on the balance sheet position for both the Term Loan and Revolving Loan at June 30, 2020, the annualized effect of a 25 basis point change in interest rates would increase or decrease our interest expense by $0.4 million.
+Added: Based on the balance sheet position for both the Term Loan and Revolving Loan at December 31, 2020, the annualized effect of a 25 basis point change in interest rates would increase or decrease our interest expense by $0.1 million.
For additional information, see Note 7 to our condensed consolidated financial statements.
1 unchanged sentence
FOREIGN CURRENCY RISK
−Removed: We are exposed to foreign currency transaction risk associated with certain sales transactions being denominated in Euros, British Pounds, Japanese Yen or Canadian Dollars.
−Removed: We are also exposed to foreign currency translation risk as the financial position and operating results of our foreign subsidiaries are translated into U.S.
+Added: We are not exposed to foreign currency transaction risk associated with sales transactions as the majority of our sales are denominated in U.S.
+Added: We are exposed to foreign currency translation risk as the financial position and operating results of our foreign subsidiaries are translated into U.S.
Dollars for consolidation.
2 unchanged sentences
We have not implemented a formal hedging strategy.
−Removed: For both the nine months ended June 30, 2020 and 2019, we had approximately $48.6 million and $50.4 million, respectively, of revenue from foreign customers including export sales.
−Removed: Of these sales, $1.6 million and $2.7 million, respectively, were denominated in foreign currency, predominantly Euros and Canadian Dollar.
−Removed: In future periods, we expect that the majority of our sales will continue to be in U.S.
−Removed: The table below compares the average monthly exchange rates of the Euro, British Pound, Japanese Yen and Canadian Dollar to the U.S.
−Removed: Nine months ended June 30, % increase
−Removed: 2020 2019 (decrease)
−Removed: Euro 1.1219 1.1359 (1.2) %
−Removed: British Pound 1.2273 1.2915 (5.0) %
−Removed: Japanese Yen 0.0093 0.0090 3.3 %
−Removed: Canadian Dollar 0.7307 0.7499 (2.6) %
A 10% change in the average exchange rate for the Euro, British Pound, Japanese Yen and Canadian Dollar to the U.S.
−Removed: Dollar during the first nine months of fiscal 2020 would have resulted in a 0.1% increase or decrease in revenue and a 1.0% increase or decrease in stockholders' equity due to foreign currency translation.
−Removed: The above analysis does not take into consideration any pricing adjustments we might consider in response to changes in such exchange rates.
+Added: Dollar during the first three months of fiscal 2021 would have resulted in a 0.9% increase or decrease in stockholders' equity due to foreign currency translation.
We have exposure to credit risk related to our accounts receivable portfolio.
1 unchanged sentence
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.