3 unchanged sentences
Shifts in the cost of crude oil, natural gas, NGLs, refined products and ethanol and related selling prices of these products can generate changes in our operating margins.
−Removed: Management's Discussion and Analysis
Interest Rate Risk
Debt that we incur under the DKL Credit Facility bears interest at floating rates and will expose us to interest rate risk.
−Removed: The outstanding floating rate borrowings totaled approximately $1,103.5 million as of June 30, 2023.
−Removed: The annualized impact of a hypothetical one percent change in interest rates on our floating rate debt outstanding as of June 30, 2023 would be to change interest expense by approximately $11.0 million.
+Added: The outstanding floating rate borrowings totaled approximately $1,100.0 million as of September 30, 2023.
+Added: The annualized impact of a hypothetical one percent change in interest rates on our floating rate debt outstanding as of September 30, 2023 would be to change interest expense by approximately $11.0 million.
Inflationary factors, such as increases in the costs of our inputs, operating expenses, and interest rates may adversely affect our operating results.
−Removed: During the first half of 2023, our results of operations were negatively affected by higher natural gas costs, higher labor costs and supply chain disruptions, in part, by the uncertain economic environment, and macroeconomic and geopolitical events and trends.
−Removed: We expect these cost pressures and supply chain challenges to continue through fiscal year 2023.
−Removed: In addition, current or future governmental policies may increase the risk of inflation, which could further increase costs and may have an adverse effect on our ability to maintain current levels of gross margin and operating expenses as a percentage of sales if the prices at which we are able to sell our products and services do not increase in line with increases in costs.
+Added: In addition, current or future governmental policies may increase or decrease the risk of inflation, which could further increase costs and may have an adverse effect on our ability to maintain current levels of gross margin and operating expenses as a percentage of sales if the prices at which we are able to sell our products and services do not increase in line with increases in costs.
+Added: Management's Discussion and Analysis
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.