1 unchanged sentence
We have not used any derivative financial instruments during the years ended December 31, 2024 and 2023, including trading or speculating on changes in interest rates or commodity prices of materials used in our business.
−Removed: Throughout 2022 and much of 2023, the Federal Reserve Board increased the federal funds rate.
−Removed: We are exposed to market risk for changes in interest rates for borrowings under our revolving credit facility.
−Removed: Borrowings under such facility bear interest at variable rates and, as a result of the actions referenced above, such rates have increased throughout 2022 and 2023.
+Added: We are exposed to market risk for changes in interest rates for any borrowings under our revolving credit facility, which bear interest at variable rates.
+Added: Although the Federal Reserve Board began to decrease the federal funds rate in 2024 after increases in 2022 and much of 2023, the pace and extent of additional decreases are uncertain.
For further information regarding our credit facility and associated borrowing rates, refer to Note 9 - Debt of the notes to consolidated financial statements included in Item 8.
15 unchanged sentences
Additionally, our fixed price contracts generally do not allow us to adjust our prices and, as a result, increases in material costs could reduce our profitability with respect to projects in progress.
−Removed: Refer to Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations for further discussion regarding the impact of fluctuations in commodity and material prices on our results of operations.
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.