7 unchanged sentences
We do not expect our operating results or cash flows to be affected to any significant degree by a sudden change in market interest rates.
−Removed: The following table presents the principal amounts and related weighted-average yields for our investments with interest rate risk at June 30, 2020 and September 30, 2019 :
−Removed: June 30, 2020
−Removed: September 30, 2019
+Added: The following table presents the principal amounts and related weighted-average yields for our investments with interest rate risk at December 31, 2020 and September 30, 2020:
+Added: December 31, 2020 September 30, 2020
+Added: Basis Carrying
+Added: Amount Average
+Added: Basis Carrying
+Added: Amount Average
(Dollars in thousands)
Cash and cash equivalents $ 144,662 $ 144,662 0.05 % $ 157,394 $ 157,394 0.05 %
−Removed: On July 14, 2010, we issued $245 million of senior notes in a private placement to a group of institutional investors (the “2010 Senior Notes”).
−Removed: On May 8, 2018, we issued $400 million of senior notes in a private placement to a group of institutional investors (the “2018 Senior Notes”).
−Removed: On December 6, 2019, we issued $350 million of senior notes in a private offering to qualified institutional investors (the “2019 Senior Notes,” and along with the 2010 Senior Notes and 2018 Senior Notes, the “Senior Notes”).
+Added: On May 8, 2018, we issued $400 million of senior notes in a private placement to qualified institutional investors (the “2018 Senior Notes”).
+Added: On December 6, 2019, we issued $350 million of senior notes in a private offering to qualified institutional investors (the “2019 Senior Notes,” and with the 2018 Senior Notes, the “Senior Notes”).
The fair value of the Senior Notes may increase or decrease due to various factors, including fluctuations in market interest rates and fluctuations in general economic conditions.
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Capital Resources and Liquidity” for additional information on the Senior Notes.
−Removed: The following table presents the face values and fair values for the Senior Notes at June 30, 2020 and September 30, 2019 :
−Removed: June 30, 2020
−Removed: September 30, 2019
−Removed: Face Value (*)
−Removed: Face Value (*)
+Added: The following table presents the face values and fair values for the Senior Notes at December 31, 2020 and September 30, 2020:
+Added: December 31, 2020 September 30, 2020
+Added: Face Value (*) Fair Value Face Value (*) Fair Value
(In thousands)
1 unchanged sentence
The 2019 Senior Notes 350,000 364,000 350,000 358,750
−Removed: The 2019 Senior Notes
−Removed: (*) The carrying value of the Senior Notes was reduced by the net debt issuance costs of $11.0 million and $5.2 million at June 30, 2020 and September 30, 2019 , respectively.
+Added: Total $ 750,000 $ 816,000 $ 750,000 $ 800,750
+Added: (*) The carrying value of the Senior Notes was the face value reduced by the net debt issuance costs of $10.2 million and $10.6 million at December 31, 2020 and September 30, 2020, respectively.
We have a $400 million unsecured revolving line of credit with a syndicate of banks that expires on May 8, 2023.
3 unchanged sentences
A change in interest rates on this variable rate debt impacts the interest incurred and cash flows, but does not impact the fair value of the instrument.
−Removed: We had $103.0 million in borrowings outstanding at a weighted average interest rate of 1.313% under the credit facility as of June 30, 2020 .
+Added: We had $131.0 million in borrowings outstanding at a weighted-average interest rate of 1.284% under the credit facility as of December 31, 2020.
Foreign Currency Forward Contracts
4 unchanged sentences
Such derivative financial instruments are subject to market risk.
−Removed: The following tables summarize our outstanding foreign currency forward contracts, by currency, at June 30, 2020 and September 30, 2019 :
−Removed: June 30, 2020
−Removed: Contract Amount
+Added: The following tables summarize our outstanding foreign currency forward contracts, by currency, at December 31, 2020 and September 30, 2020:
+Added: December 31, 2020
+Added: Contract Amount Fair Value
+Added: Currency USD USD
(In thousands)
Sell foreign currency:
+Added: Euro (EUR) EUR 18,900 $ 23,068 $ —
Buy foreign currency:
−Removed: British pound (GBP)
−Removed: Singapore dollar (SGD)
+Added: British pound (GBP) GBP 12,034 $ 16,400 $ —
+Added: Singapore dollar (SGD) SGD 6,725 $ 5,100 $ —
September 30, 2020
−Removed: Contract Amount
+Added: Contract Amount Fair Value
+Added: Currency USD USD
(In thousands)
Sell foreign currency:
+Added: Euro (EUR) EUR 15,000 $ 17,656 $ —
Buy foreign currency:
−Removed: British pound (GBP)
−Removed: Singapore dollar (SGD)
−Removed: The foreign currency forward contracts were entered into on June 30, 2020 and September 30, 2019 , respectively;
+Added: British pound (GBP) GBP 16,555 $ 21,300 $ —
+Added: Singapore dollar (SGD) SGD 7,815 $ 5,700 $ —
+Added: The foreign currency forward contracts were entered into on December 31, 2020 and September 30, 2020, respectively;
therefore, their fair value was $0 on each of these dates.
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.