1 unchanged sentence
Interest rate risk
−Removed: As of June 30, 2023 , our total debt outstanding, excluding unamortized debt issuance costs, was $1,767.4 million .
+Added: As of September 30, 2023 , our total debt outstanding, excluding unamortized debt issuance costs, was $ 1,722.9 million .
Of this amount, $ 525.0 million , net of debt discounts, or 30% of our total debt obligations, relates to our contingent Convertible Notes that have a fixed coupon rate.
Our $ 525.0 million outstanding principal amount of Convertible Notes accrue cash interest at a rate of 0.75% of the principal amount per annum.
−Removed: Based on quoted market prices, as of June 30, 2023 , the fair value of our fixed rate Convertible Notes was $532.0 million , compared to a carrying value of $525.0 million .
−Removed: Further, as of June 30, 2023 we had $137.6 million of borrowings under our Credit Facility, or 8% of our total debt obligations.
−Removed: The carrying values of the Credit Facility approximates fair value because interest as of June 30, 2023, was based on SOFR that resets at various intervals of less than one year.
+Added: Based on quoted market prices, as of September 30, 2023 , the fair value of our fixed rate Convertible Notes was $ 498.5 million , compared to a carrying value of $ 525.0 million .
+Added: Further, as of September 30, 2023 we had $ 113.5 million of borrowings under our Credit Facility, or 7% of our total debt obligations.
+Added: The carrying values of the Credit Facility approximates fair value because interest as of September 30, 2023 , was based on SOFR that resets at various intervals of less than one year.
Additionally, $ 634.2 million , or 37% of our total debt obligations, relates to Senior Notes having a fixed coupon rate.
Our $ 634.2 million outstanding principal amount of Senior Notes accrue cash interest at a rate of 1.375% of the principal amount per annum.
−Removed: Based on quoted market prices, as of June 30, 2023 , the fair value of our fixed rate Senior Notes was $ 592.2 million , compared to a carrying value of $654.6 million .
+Added: Based on quoted market prices, as of September 30, 2023 , the fair value of our fixed rate Senior Notes was $ 571.8 million , compared to a carrying value of $ 634.2 million .
An additional $ 450.0 million, or 26% of our total debt, is related to short-term uncommitted credit agreements.
5 unchanged sentences
Foreign currency exchange rate risk
−Removed: For the six months ended June 30, 2023, approximately 75 % of our revenues were generated in non-U.S.
+Added: For the nine months ended September 30, 2023 , approximately 75 % of our revenues were generated in non-U.S.
dollar countries and we expect to continue generating a significant portion of our revenues in countries with currencies other than the U.S.
1 unchanged sentence
dollar to the currencies of countries in which we have significant operations, primarily the euro, British pound, Australian dollar, Polish zloty, Indian rupee, New Zealand dollar, Malaysian ringgit and Hungarian forint.
−Removed: As of June 30, 2023 , we estimate that a 1 0 % fluctuation in these foreign curren cy exchange rates would have the combined annualized effect on reported net income and working capital of approximately $160 million to $170 million .
+Added: As of September 30, 2023 , we estimate that a 1 0 % fluctuation in these foreign curren cy exchange rates would have the combined annualized effect on reported net income and working capital of approximately $180 million to $190 million .
This effect is estimated by applying a 1 0 % adjustment factor to our non-U.S.
26 unchanged sentences
The changes in fair value related to these contracts are recorded in Foreign currency exchange (loss) gain, net on the Consolidated Statements of Income.
−Removed: As of June 30, 2023 , we had foreign currency derivative contracts outstanding with a notional value of $436.4 million , primarily in Australian dollars, British pounds, Canadian dollars, euros and Mexican pesos, that were not designated as hedges and mature within a few days.
+Added: As of September 30, 2023 , we had foreign currency derivative contracts outstanding with a notional value of $ 426.0 million , primarily in Australian dollars, British pounds, Canadian dollars, euros and Mexican pesos, that were not designated as hedges and mature within a few days.
For derivative instruments our xe operations write to customers, we aggregate the foreign currency exposure arising from customer contracts, and hedge the resulting net currency risks by entering into offsetting contracts with established financial institution counterparties as part of a broader foreign currency portfolio.
The changes in fair value related to the total portfolio of positions are recorded in Revenues on the Consolidated Statements of Income.
−Removed: As of June 30, 2023 , we held foreign currency derivative contracts outstanding with a notional value of $1.2 billion , primarily in U.S.
+Added: As of September 30, 2023 , we held foreign currency derivative contracts outstanding with a notional value of $ 1.0 billion , primarily in U.S.
dollars, euros, British pounds, Australian dollars and New Zealand dollars, that were not designated as hedges and for which the majority mature within the next twelve months.
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.