7 unchanged sentences
We use borrowings under the Restated Credit Agreement to finance acquisitions and for general corporate purposes.
−Removed: Borrowings outstanding at variable interest rates under the Restated Credit Agreement as of September 30, 2020, were $110.0 million.
−Removed: Based on our outstanding borrowings under the Restated Credit Agreement of $110.0 million as of September 30, 2020, an increase in market interest rates of 1.0% for 2020 would decrease our 2020 net income and cash flows by $0.3 million.
−Removed: This amount was determined by calculating the effect of a hypothetical interest rate change on our borrowings floating at market rates, and assumes that the $110.0 million outstanding borrowings under the Restated Credit Agreement is indicative of our future average floating interest rate borrowings for 2020 before considering additional borrowings required for future acquisitions or repayment of outstanding borrowings from proceeds of future equity offerings.
−Removed: The calculation also assumes that there are no other changes in our financial structure or the terms of our borrowings.
−Removed: Our exposure to fluctuations in interest rates will increase or decrease in the future with increases or decreases in the outstanding amount under our Restated Credit Agreement and with increases.
+Added: There were no borrowings outstanding at variable interest rates under the Restated Credit Agreement as of March 31, 2021 and, as a result, an increase in market interest rates would have no effect on our net income and cash flows.
In order to minimize our exposure to credit risk associated with financial instruments, we place our temporary cash investments, if any, with high credit quality institutions.
2 unchanged sentences
As discussed elsewhere in this report, the COVID-19 pandemic may negatively impact our business and results of operations.
−Removed: As we cannot predict the duration or scope of COVID-19 there is potential for future negative financial impact s to our results that could be material .
+Added: As we cannot predict the duration or scope of COVID-19 there is potential for future negative financial impacts to our results that could be material.
Our business and results of operations will be, and our financial condition may be, impacted by COVID-19 pandemic and such impact could be materially adverse.
1 unchanged sentence
Risk Factors” in this Quarterly Report on Form 10-Q for additional information.
+Added: CONTROL S AND PROCEDURES
+Added: Disclosure Controls and Procedures
+Added: We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or furnished pursuant to the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
+Added: In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.
+Added: As required by Rules 13a-15(b) and 15d-15(b) of the Exchange Act, we have carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q.
+Added: Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) were effective as of March 31, 2021, at the reasonable assurance level.
+Added: Internal Control Over Financial Reporting
+Added: During the first quarter of 2021, there were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: PART II—OTHER INFORMATION
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.