3 unchanged sentences
Griffon’s exposure to market risk for changes in interest rates relates primarily to variable interest rate debt and investments in cash and equivalents.
−Removed: The Credit Agreement and certain other of Griffon’s credit facilities have a LIBOR-based variable interest rate.
+Added: On December 9, 2021 Griffon amended the Credit Agreement to replace the GBP LIBOR benchmark rate with Sterling Overnight Index Average ("SONIA").
+Added: The Credit Agreement and certain other of Griffon’s credit facilities have either a LIBOR or SONIA-based variable interest rate.
Due to the current and expected level of borrowings under these facilities, a 100 basis point change in LIBOR would not have a material impact on Griffon’s results of operations or liquidity.
Foreign Exchange
−Removed: Griffon conducts business in various non-US countries, primarily in Canada, Australia, the United Kingdom, Mexico and China;
+Added: Griffon conducts business in various non-US countries, primarily in Canada, Australia, the United Kingdom, Ireland, New Zealand and China;
therefore, changes in the value of the currencies of these countries affect Griffon's financial position and cash flows when translated into US Dollars.
3 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.