9 unchanged sentences
We manage investment interest rate market risk primarily by managing portfolio maturity. The fair value of our long-term held-to-maturity investment portfolio may be affected by changes in interest rates.
−Removed: Our continuing operations do not have any material business transactions in foreign currencies.
−Removed: As of December 31, 2021 and 2020, the balance in long-term debt in our consolidated balance sheets of the 2.75% Convertible Notes, excluding debt issuance costs, including $14.8 million and $7.7 million, respectively, of amortized debt discount, was $207.4 million and $200.3 million, respectively.
−Removed: As of December 31, 2021 and 2020, the remaining unamortized debt discount was $22.6 million and $29.7 million, respectively.
−Removed: As of December 31, 2021 and 2020, a term loan of $123.8 million and $131.3 million, respectively, was outstanding under the Credit Agreement that had a variable interest rate of LIBOR plus an applicable margin, that we converted under a swap arrangement to a fixed rate of 2.76% plus the same applicable margin.
−Removed: The applicable margin is based on certain financial ratios calculated quarterly and can vary in future periods.
−Removed: The additional annual interest expense for each 25 basis point increase in the applicable margin would be immaterial.
−Removed: As of December 31, 2021, there was no amount drawn under the revolving portion of the Credit Agreement.
+Added: Operating in international markets involves exposure to possible volatile movements in currency exchange rates.
+Added: Our Mountain operating group has international operations in Mexico and Canada.
+Added: We also have affiliates that operate in Latin America (see Note 10 of “Notes to the Consolidated Financial Statements”).
+Added: The majority of the customer contracts in Mexico are U.S.
+Added: dollar-based, reducing the exposure to currency fluctuations.
+Added: As of December 31, 2022, we do not have any outstanding foreign currency option contracts.
+Added: If the volume of our international operations increases and foreign currency exchange rates change, the impact to our consolidated statements of operations could be significant and may affect year-to-year comparability of operating results.
+Added: The impact from foreign currency transactions during 2022 , 
+Added: 2021 and 2020 was immaterial.
+Added: Due to the adoption of ASU 2020-06 (see Note 1 of "Notes to the Consolidated Financial Statements"), we did not record amortization of debt discount related to our 2.75% Convertible Notes during 2022 .
+Added: As of December 31,  
+Added: 2022  and 
+Added: 2021 , the balance in long-term debt in our consolidated balance sheets of the 2.75% Convertible Notes, excluding debt issuance costs, and including 
+Added: $ 14.8  million of amortized debt discount in 2021 , was $ 230.0  million and $ 207.4  million, respectively.
+Added: As of December 31,  
+Added: 2021 , the remaining unamortized debt discount was  $ 22.6  million but was reduced to zero upon adoption of ASU 2020-06 on January 1, 
+Added: We may borrow on the Revolver, at our option, at either (a) the SOFR term rate plus a credit adjustment spread plus applicable margin ranging from 1.0% to 2.0%, or (b) a base rate plus an applicable margin ranging from 0.0% to 1.0%.
+Added: The applicable margin is based on our Consolidated Leverage Ratio (as defined in our Credit Agreement), calculated quarterly.
+Added: As of December 31,  
+Added: 2022 , there was $ 50.0 million drawn under the Revolver.
See Note 14 of “Notes to the Consolidated Financial Statements”
4 unchanged sentences
Fixed rate debt
−Removed: 2.75% Convertible Notes (1)
−Removed: Interest rate
−Removed: Credit Agreement - term loan
+Added: Credit Agreement Revolver Loan
Effective interest rate (1)
−Removed: (1) Debt issuance costs are excluded from the table.
−Removed: Included in the table is $22.6 million of unamortized debt discount related to the 2.75% Convertible Notes (as defined in Note 14 to “Notes to the Consolidated Financial Statements”).
−Removed: (2) The effective interest rate was calculated using three-month LIBOR plus the applicable margin, subject to a 75bp LIBOR floor.
−Removed: As forecasted LIBOR was below 75bps for remaining term loan periods, the 75bp LIBOR floor was utilized.
−Removed: Future interest payments may differ from actual results. 
−Removed: The estimated fair value of our cash and cash equivalents approximates the principal amounts reflected above based on the generally short maturities of these financial instruments. The fair value of the term loan under the Credit Agreement was approximately $124.6 million and $133.0 million as of December 31, 2021 and 2020, respectively.
+Added: 2.75% Convertible Notes
+Added: (1) The effective interest rate was calculated using one-month SOFR plus 10 basis points plus the applicable margin. Future interest payments may differ from actual results. 
+Added: The estimated fair value of our cash and cash equivalents approximates the principal amounts reflected above based on the generally short maturities of these financial instruments.
The fair value of 2.75% Convertible Notes was approximately $281.4 million and $313.8 million as of December 31, 2022 and 2021, respectively.
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.