2 unchanged sentences
Item 7.A QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
−Removed: Interest Rate Risk - We are exposed to the impact of interest rate changes through our variable-rate borrowings under our Credit Agreement with Wells Fargo.
−Removed: Under the Wells Fargo Credit Agreement, the applicable margin for borrowings at December 31, 2024 was Daily Simple SOFR plus 2.25%.
−Removed: There were no borrowings outstanding at December 31, 2024, so a sensitivity analysis was not performed to determine the impact of hypothetical changes in interest rates on the Company’s results of operations and cash flows.
+Added: Interest Rate Risk - We are exposed to the impact of interest rate changes through our SOFR variable-rate borrowings.
+Added: If SOFR had been 100 basis points higher during 2025 interest incurred would have increased by approximately $40,000.
The following table presents the principal cash flow payments associated with our outstanding consolidated debt by year, weighted average interest rates on debt outstanding each year-end, and fair value of total debt as of December 31, 2025 (dollars in thousands):
2 unchanged sentences
Average interest for fixed rate debt 3.03 % 3.03 % 3.03 % 3.03 % 3.03 % 3.03 %
+Added: Variable rate debt $ — $ — $ 13,888 $ — $ — $ — $ 13,888 $ 13,888
+Added: Average interest for variable rate debt 6.50 % 6.50 % 6.50 % 6.50 % 6.50 % 6.50 %
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.