−Removed: MANAGEMENT'S DISCUSSION AND ANALYSIS
−Removed: OF FINANCIAL CONDITION AND RESULTS OF OPERATION.
−Removed: Information required in response to Item 7
−Removed: is included under the caption "Management’s Discussion and Analysis of Financial Condition and Results of Operation"
−Removed: on pages 10 through 21 of the Company’s 2020 Annual Report to Shareholders, and such information is incorporated herein by
+Added: MANAGEMENT'S DISCUSSION AND ANALYSIS OF
+Added: FINANCIAL CONDITION AND RESULTS OF OPERATION.
+Added: Information required in response to Item 7 is included
+Added: under the caption "Management’s Discussion and Analysis of Financial Condition and Results of Operation" on pages 10 through
+Added: 21 of the Company’s 2021 Annual Report to Shareholders, and such information is incorporated herein by reference.
+Added: Item 7.A QUANTITATIVE AND QUALITATIVE DISCLOSURES
+Added: ABOUT MARKET RISK.
+Added: Interest Rate Risk - We are exposed to the
+Added: impact of interest rate changes through our variable-rate borrowings under our Credit Agreement with Wells Fargo.
+Added: Under the Wells Fargo Credit Agreement, the applicable
+Added: margin for borrowings at December 31, 2021 was Daily 1-Month LIBOR plus 1.0%.
+Added: The applicable margin for such borrowings will be increased
+Added: in the event that our debt to capitalization ratio as calculated under the Wells Fargo Credit Agreement Facility exceeds a target level.
+Added: The Company did not have any variable rate debt outstanding
+Added: at December 31, 2021, so a sensitivity analysis was not performed to determine the impact of hypothetical changes in interest rates on
+Added: the Company’s results of operations and cash flows.
+Added: For our debt instruments with variable interest rates,
+Added: changes in interest rates affect the amount of interest expense incurred.
+Added: The following table presents the principal cash flow payments
+Added: associated with our outstanding debt by year, weighted average interest rates on debt outstanding each year-end, and fair value of total
+Added: debt as of December 31, 2021 (dollars in thousands):
+Added: Fixed rate debt
+Added: Average interest for fixed rate debt
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.