3 unchanged sentences
Interest Rates
−Removed: As of June 30, 2022, we had $210.8 million of variable rate bank debt outstanding under our 2017 Credit Facility.
+Added: As of September 30, 2022, we had $210.0 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 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.
+Added: If the Eurodollar were to increase by a hypothetical 100 basis points, or one percentage point, from its September 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 September 30, 2022.
Foreign Currency
4 unchanged sentences
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 June 30, 2022 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 September 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.
2 unchanged sentences
Based on recent inflation trends, the economy in Argentina has been classified as highly inflationary.
−Removed: 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).
+Added: 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 Condensed Consolidated Financial Statements).
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.
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.