3 unchanged sentences
Interest Rates
−Removed: As of March 31, 2023, we had $211.5 million of variable rate bank debt outstanding under our 2023 Credit Facility.
+Added: As of June 30, 2023, we had $210.3 million of variable rate bank debt outstanding under our 2023 Credit Facility.
Our borrowings bear interest on the outstanding principal amount thereof from the date when made at a rate per annum equal to either:
2 unchanged sentences
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 SOFR were to increase by a hypothetical 100 basis points, or one percentage point, from its March 31, 2023 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, 2023.
+Added: If the SOFR were to increase by a hypothetical 100 basis points, or one percentage point, from its June 30, 2023 level, our annual interest expense would increase and cash flow from operations would decrease by $2.1 million based on the outstanding balance of our term loan as of June 30, 2023.
Foreign Currency
4 unchanged sentences
dollar, primarily the Mexican peso, Argentine peso, certain other Latin American currencies and various Asian currencies.
−Removed: The effect of an immediate and hypothetical 10% adverse change in foreign exchange rates on foreign-denominated accounts receivable at March 31, 2023 would not be material to our consolidated results of operations or overall financial condition.
+Added: The effect of an immediate and hypothetical 10% adverse change in foreign exchange rates on foreign-denominated accounts receivable at June 30, 2023 would not be material to our consolidated results of operations or overall financial condition.
Our operating expenses are primarily denominated in U.S.
1 unchanged sentence
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.
−Removed: Based on recent inflation trends, the economy in Argentina has been classified as highly inflationary.
+Added: Based on inflation data, the economy in Argentina has been classified as highly inflationary.
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).
5 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.