3 unchanged sentences
Interest Rates
−Removed: As of March 31, 2024, we had $197.8 million of variable rate bank debt outstanding under our 2023 Credit Facility.
+Added: As of June 30, 2024, we had $187.8 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, 2024 level, our annual interest expense would increase and cash flow from operations would decrease by $2.0 million based on the outstanding balance of our term loan as of March 31, 2024.
+Added: If the SOFR were to increase by a hypothetical 100 basis points, or one percentage point, from its June 30, 2024 level, our annual interest expense would increase and cash flow from operations would decrease by $1.9 million based on the outstanding balance of our term loan as of June 30, 2024.
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 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.
−Removed: 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, 2024 would not be material to our consolidated results of operations or overall financial condition.
+Added: However, we have operations in countries other than the United States, primarily related to our continuing digital operations, and expect a portion of our future revenues will be denominated in currencies other than the U.S.
+Added: The effect of an immediate and hypothetical 10% adverse change in foreign exchange rates on foreign-denominated accounts receivable at June 30, 2024 would not be material to our consolidated results of operations or overall financial condition.
Our operating expenses are primarily denominated in U.S.
−Removed: 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.
+Added: In addition, certain of our operating expenses are denominated in the currencies of the countries in which our operations are located, primarily Spain.
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 inflation data, 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 Condensed Consolidated Financial Statements).
−Removed: We maintain certain cash and cash equivalents in certain countries, including Argentina, Brazil, India and Pakistan, which has foreign exchange controls that could impact our ability to freely repatriate such funds to the United States.
−Removed: To the extent that 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.
−Removed: dollar can increase the amount of operating expense of our international operations, which are primarily related to our digital business.
+Added: dollar can increase the amount of operating expense of our international operations, which are primarily related to our continuing digital operations.
To date, we have not entered into any foreign currency hedging contracts, since exchange rate fluctuations historically have not had a material effect on our operating results and cash flows.
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.