5 unchanged sentences
Interest rates
−Removed: While operating net interest income has become a meaningful component to our consolidated operating results, we do not consider our investment portfolio to be subject to material interest rate risk since it is comprised predominantly of fixed rate securities.
+Added: While operating net interest income is a meaningful component to our consolidated operating results, we do not consider our investment portfolio to be subject to material interest rate risk since it is comprised predominantly of fixed rate securities.
The composition of our portfolio is price sensitive to rate changes, which can impact unrealized gains or losses in our portfolio.
6 unchanged sentences
Accordingly, the net effect has had and we expect may continue to have a negative impact on our consolidated financial statements.
−Removed: As of March 31, 2024, we had $45.0 million outstanding under our $100.0 million line of credit agreement.
+Added: As of June 30, 2024, we had $62.0 million outstanding under our $100.0 million line of credit agreement.
Refer to Note 9 — Debt to the Consolidated Financial Statements included herein for additional information.
1 unchanged sentence
Although any short-term borrowings under our revolving credit facility would likely be insensitive to interest rate changes, interest expense on short-term borrowings will increase and decrease with changes in the underlying short-term interest rates.
−Removed: For example, assuming our credit agreement is drawn up to its maximum borrowing capacity of $100.0 million, based on the applicable SOFR and margin in effect as of March 31, 2024, each quarter point of change in interest rates would result in a $0.3 million change in our annual interest expense.
+Added: For example, assuming our credit agreement is drawn up to its maximum borrowing capacity of $100.0 million, based on the applicable SOFR and margin in effect as of June 30, 2024, each quarter point of change in interest rates would result in a $0.3 million change in our annual interest expense.
We actively monitor our interest rate exposure and our objective is to reduce, where we deem appropriate to do so, fluctuations in earnings and cash flows associated with changes in interest rates.
20 unchanged sentences
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.