4 unchanged sentences
It is our policy to minimize, for a period of time, the unforeseen impact on our financial results of fluctuations in foreign exchange rates by using derivative financial instruments known as forward contracts to hedge anticipated cash flows from forecasted foreign currency denominated sales and costs.
−Removed: We do not use the financial instruments for speculative or trading activities.
−Removed: We estimate the change in the fair value of all forward contracts assuming both a 10% strengthening and weakening of the U.S.
+Added: We do no t use the financial instruments for speculative or trading activities.
+Added: In October 2023, we entered into a foreign currency option contract in connection with the pending OpSens transaction to mitigate the risk of foreign currency fluctuations.
+Added: The foreign currency option contract is for the purchase of CAD $345.0 million at a protection rate of CAD $1.3570 to USD $1.00 and expires on January 10, 2024.
+Added: We estimate the change in the fair value of all forward con tracts assuming both a 10% strengthening and weakening of the U.S.
Dollar relative to all other major cu rrencies.
−Removed: As of July 1, 2023, in the event of a 10% strengthening of the U.S.
+Added: As of September 30, 2023, in the event of a 10% strengthening of the U.S.
Dollar, the change in fair value of all forward contracts would result in a $2.9 million increase in the fair value of the forward contracts, whereas a 10% weakening of the U.S.
2 unchanged sentences
Our exposure to changes in interest rates is associated with borrowings under our credit facilities, all of which is variable rate debt.
−Removed: Total outstanding debt under our Revised Credit Facilities as of July 1, 2023 was $273.0 million with an effective interest rate of 6.6% based on prevailing Term SOFR rates.
+Added: Total outstanding debt under our Revised Credit Facilities as of September 30, 2023 was $269.5 million with an effective interest rate of 6.7% based on prevailing Term SOFR rates.
An increase of 100 basis points in Term SOFR rates would result in additional annual interest expense of $0.5 million .
−Removed: As of July 1, 2023 , the notional amount on our two active in terest rate swap agreements to effectively convert borrowings under our Credit Facilities from a variable rate to a fixed rate were $219.1 million.
+Added: As of September 30, 2023 , the notional amount on our two active in terest rate swap agreements to effectively convert borrowings under our Credit Facilities from a variable rate to a fixed rate were $217 million.
These interest rate swaps are intended to mitigate the exposure to fluctuations in interest rates and qualify for hedge accounting treatment as cash flow hedges.
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.