5 unchanged sentences
We entered into certain credit facilities pursuant to the terms of a credit agreement on April 4, 2022.
−Removed: Please refer to Note 15, “Debt” in our Notes included in this Form 10-K for additional information regarding our credit facilities.
+Added: Refer to Note 15, “Debt” in our Notes included in this Form 10-K for additional information regarding our credit facilities.
We are exposed to interest rate risk on the new variable-rate term loans under these facilities.
A hypothetical increase in interest rates of 1% during the year ended December 31, 2023 would have increased interest expense by approximatel y $4.2 million.
−Removed: I n order to mitigate our interest risk, in July 2022, we entered into interest rate swaps to hedge approximately $600 million of our variable interest rate debt.
+Added: I n order to mitigate our interest risk, in 2022, we entered into interest rate swaps to hedge approximately $600 million of our variable interest rate debt.
See Note 16, “Derivatives” in our Notes included in this Form 10-K for additional information.
3 unchanged sentences
dollar and against the currencies of other countries in which we manufacture and sell products and services.
−Removed: During 2022, approxima tely 78% of our sales were derived from operations outside the U.S.
+Added: During 2023, approxima tely 78% of our sales were derived from operations outside the United States.
We have significant manufacturing operations in European countries that are not part of the Eurozone.
16 unchanged sentences
Similarly, tax costs may increase or decrease as local currencies strengthen or weaken against the U.S.
+Added: In addition, Argentina is deemed to have a highly inflationary economy, resulting in the remeasurement of the Company’s Argentine operations into Brazilian real, the functional currency of the Argentine entity’s direct parent.
+Added: Gains and losses from the remeasurement are recorded in the Company’s Consolidated and Combined Statements of Operations for all years included in the Consolidated and Combined Financial Statements included elsewhere this Form 10-K.
Commodity Price Risk
3 unchanged sentences
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.