11 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 the first nine months of 2024 or 2023.
+Added: We had no derivative instruments that qualified under these rules as designated accounting hedges in the first three months of 2025 or 2024.
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 the cost of goods sold within the biodiesel segment.
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 volume of biofuel being sold.
−Removed: At September 30, 2024 and December 31, 2023, the fair value of our derivative instruments was a net asset of $297 and $1,736, respectively.
+Added: At March 31, 2025 and December 31, 2024, the fair value of our derivative instruments was a net liability of $494 and $235, 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.
1 unchanged sentence
The availability and price of these items are subject to fluctuations due to unpredictable factors such as weather conditions, overall economic conditions, governmental policies, commodity markets, and global supply and demand.
−Removed: We prepared a sensitivity analysis of our exposure to market risk with respect to key raw materials and conversion costs for which we do not possess contractual market price adjustment protections, based on average prices for the first nine months of 2024.
−Removed: We included only those raw materials and conversion costs for which a hypothetical adverse change in price would result in a 1% or greater decrease in gross profit.
−Removed: Assuming that the prices of the associated finished goods could not be increased and assuming no change in quantities sold, a hypothetical 10% change in the average price of the commodity listed below would result in the following change in gross profit.
−Removed: (Volume and dollars in thousands)
−Removed: Volume Requirements
−Removed: Hypothetical Adverse
−Removed: Percentage Decrease
−Removed: Change in Price
−Removed: in Gross Profit
−Removed: Biodiesel feedstocks
−Removed: Sodium Methylate
−Removed: (a) Volume requirements and average price information are based upon volumes used and prices obtained for the nine months ended September 30, 2024.
−Removed: Volume requirements may differ materially from these quantities in future years as our business evolves.
−Removed: We had no borrowings at September 30, 2024, or December 31, 2023, and as such, we were not exposed to interest rate risk for those periods.
+Added: We prepared a sensitivity analysis of our exposure to market risk with respect to key raw materials and conversion costs for which we do not possess contractual market price adjustment protections, based on average prices for the first three months of 2025.
+Added: Assuming that the prices of the associated finished goods could not be increased and assuming no change in quantities sold, there were no raw materials or conversion costs for which a hypothetical, adverse 10% change in the average price of the commodity would result in a 1% or greater decrease in gross profit.
+Added: We had no borrowings at March 31, 2025, or December 31, 2024, and as such, we were not exposed to interest rate risk for those periods.
Due to the relative insignificance of transactions denominated in 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.