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Interest Rate Exposure
−Removed: We are subject to market risk from exposure to changes in interest rates relating to our Term Loan and our revolving credit facility.
−Removed: We borrow under our revolving credit facility to support general corporate purposes, including capital expenditures and working capital needs.
−Removed: Interest rates increased in fiscal 2019 and decreased in fiscal 2020.
−Removed: Any future increase in interest rates by the Federal Reserve will result in increases in our interest expense under our Term Loan and ABL Credit Facility.
−Removed: Based on the outstanding balances of our Term Loan and our revolving credit facility as of January 31, 2020, we estimate that each 100 basis point increase in our borrowing rates would result in additional interest expense to us of approximately $3.0 million.
+Added: We are subject to market risk from exposure to changes in interest rates relating to our ABL Credit Agreement.
+Added: We borrow under this credit facility to support general corporate purposes, including capital expenditures and working capital needs.
+Added: Interest rates decreased in fiscal 2020 and fiscal 2021.
+Added: Any future increase in interest rates by the Federal Reserve will result in increases in our interest expense under our ABL Credit Agreement.
+Added: Based on our interest expense incurred during the year ended January 31, 2021, we estimate that each 100 basis point increase in our borrowing rates would result in additional interest expense to us of approximately $0.6 million.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
2 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.