3 unchanged sentences
Interest Rates
−Removed: As of March 31, 2022, we had $ 211.5 million of variable rate bank debt outstanding under our 2017 Credit Facility.
+Added: As of June 30, 2022, we had $210.8 million of variable rate bank debt outstanding under our 2017 Credit Facility.
The debt bears interest at the three-month Eurodollar rate plus a margin of 2.75%.
Because our debt is subject to interest at a variable rate, our earnings will be affected in future periods by changes in interest rates.
−Removed: If the Eurodollar were to increase by a hypothetical 100 basis points, or one percentage point, from its March 31, 2022 level, our annual interest expense would increase and cash flow from operations would decrease by approximately $2.1 million based on the outstanding balance of our term loan as of March 31, 2022.
+Added: If the Eurodollar were to increase by a hypothetical 100 basis points, or one percentage point, from its June 30, 2022 level, our annual interest expense would increase and cash flow from operations would decrease by approximately $2.1 million based on the outstanding balance of our term loan as of June 30, 2022.
Foreign Currency
2 unchanged sentences
dollars, and the majority of our current revenues continue to be, and are expected to remain, denominated in U.S.
−Removed: However, we have oper ations in countries other than the United States, primarily related to our digital business, and as a result we expect an increasing portion of our future revenues to be denominated in currencies other than the U.S.
+Added: However, we have operations in countries other than the United States, primarily related to our digital business, and as a result we expect an increasing portion of our future revenues to be denominated in currencies other than the U.S.
dollar, primarily the Mexican peso, Argentine peso, certain other Latin American currencies and various other currencies.
−Removed: The effect of an immediate and hypothetical 10% adverse change in foreign exchange rates on foreign-denominated accounts receivable at March 31, 20 22 would not be material to our overall financial condition or consolidated results of operations.
+Added: The effect of an immediate and hypothetical 10% adverse change in foreign exchange rates on foreign-denominated accounts receivable at June 30, 2022 would not be material to our overall financial condition or consolidated results of operations.
Our operating expenses are primarily denominated in U.S.
−Removed: In addition, certain of our operating expenses are d enominated in the currencies of the countries in which our operations are located, such as Spain, Latin American countries and other countries.
+Added: In addition, certain of our operating expenses are denominated in the currencies of the countries in which our operations are located, such as Spain, Latin American countries and other countries.
Increases and decreases in our foreign-denominated revenue from movements in foreign exchange rates are partially offset by the corresponding decreases or increases in our foreign-denominated operating expenses.
1 unchanged sentence
As a result, we applied the guidance in ASC 830 by remeasuring non-monetary assets and liabilities at historical exchange rates and monetary-assets and liabilities using current exchange rates (see Note 2 to Notes to Consolidated Financial Statements).
−Removed: As our international operations continue to g row, our risks associated with fluctuation in currency rates will become greater, and we will continue to reassess our approach to managing this risk.
+Added: As our international operations continue to grow, our risks associated with fluctuation in currency rates will become greater, and we will continue to reassess our approach to managing this risk.
In addition, currency fluctuations or a weakening U.S.
2 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.