2 unchanged sentences
The Company has limited foreign operations and therefore is not materially subject to fluctuations in foreign exchange rates, commodity prices or other market rates or prices from market sensitive instruments.
−Removed: On September 30 2019, we executed a floating-to-fixed interest rate swap with FNB as counter party.
−Removed: The notional amount in the floating-to-fixed interest rate swap is $16.2 million at the end of fiscal year 2022.
−Removed: The remaining outstanding balance of our secured term loan is subject to interest rate fluctuations.
+Added: On September 30, 2019, we executed a floating-to-fixed interest rate swap with First National Bank ("FNB") as counter party.
+Added: The notional amount in the floating-to-fixed interest rate swap on September 30, 2023 is $16.2 million and matures in 2024 and the fixed rate of 1.61%.
+Added: On January 31, 2023, we executed an additional floating-to-fixed interest rate swap with FNB;
+Added: the notional amount as of September 30, 2023 is $96.0 million, it matures in January 2026, and the fixed rate is 4.10%.
+Added: The total floating-to-fixed swap balance as of September 30, 2023 is $112.2 million.
As interest rates rise due to inflation-related pressures in the economy, we expect to continue to use interest rate swaps to mitigate our cash risk of rising rates.
−Removed: The Company has determined that a 1.0% increase to the LIBOR rate would incrementally impact our interest expense by approximately $0.3 million per year.
+Added: The Company has determined that a 1.0% increase to the SOFR rate would incrementally impact our interest expense by approximately $0.7 million per year.
As of September 30, 2023, the interest rate was 9.51%.
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.