Quantitative and Qualitative Disclosures About Market Risk.
−Removed: In recent years, general economic inflation has not had a material adverse impact on our costs and, as described elsewhere herein, we have passed some price increases along to our customers.
+Added: In recent years, general economic inflation has not had a material adverse impact on our costs and, as described elsewhere herein, we have passed some contractual inflationary price increases along to our customers.
However, we are subject to certain market risks as described below.
7 unchanged sentences
To qualify for designation as an accounting hedging relationship, specific criteria must be met and appropriate documentation maintained.
−Removed: We had no derivative instruments that qualified under these rules as designated accounting hedges in 2022 or 2021.
+Added: We had no derivative instruments that qualified under these rules as designated accounting hedges in 2023 or 2022.
Changes in the fair value of our derivative instruments are recognized at the end of each accounting period and recorded in the consolidated statement of operations as a component of cost of goods sold.
Our immediate recognition of derivative instrument gains and losses can cause net income to be volatile from period to period due to the timing of the change in value of the derivative instruments relative to the sale of biofuel being sold.
−Removed: As of December 31, 2022 and 2021, the fair values of our derivative instruments were in a liability position in the amount of $142 and $485, respectively.
+Added: As of December 31, 2023 and 2022, the fair values of our derivative instruments were in an asset position in the amount of $1,736 and a liability position of $142, respectively.
Our gross profit will be impacted by the prices we pay for raw materials and conversion costs (costs incurred in the production of chemicals and biofuels) for which we do not possess contractual market price adjustment protection.
8 unchanged sentences
Sodium Methylate
−Removed: (a) Volume requirements and average price information are based upon volumes used and prices obtained for the twelve months ended December 31, 2022.  Volume requirements may differ materially from these quantities in future years as our business evolves.
−Removed: We had no borrowings as of December 31, 2022 or 2021, and, as such, we were not exposed to interest rate risk for those years.
+Added: (a) Volume requirements and average price information are based upon volumes used and prices obtained for the year ended December 31, 2023.
+Added: Volume requirements may differ materially from these quantities in future years as our business evolves.
+Added: We had no borrowings as of December 31, 2023 or 2022, and, as such, we were not exposed to interest rate risk for those years.
Due to the relative insignificance of transactions denominated in a foreign currency, we consider our foreign currency risk to be immaterial.
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.