QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
−Removed: We have not used any derivative financial instruments during the three months ended March 31, 2025, including trading or speculating on changes in interest rates or commodity prices of materials used in our business.
+Added: We have not used any derivative financial instruments during the six months ended June 30, 2025, including trading or speculating on changes in interest rates or commodity prices of materials used in our business.
We are exposed to market risk for changes in interest rates for borrowings under our revolving credit facility, which bear interest at variable rates.
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For further information regarding our credit facility and associated borrowing rates, refer to Note 7 - Debt of the notes to consolidated financial statements.
−Removed: As of March 31, 2025, we had $250.0 million in direct borrowings outstanding under the 2023 Revolving Credit Facility.
+Added: As of June 30, 2025, we had $250.0 million in direct borrowings outstanding under the 2023 Revolving Credit Facility.
Based on such amount, if overall interest rates were to increase by 50 basis points, interest expense, net of income taxes, would increase by approximately $0.9 million in the next twelve months.
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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.