5 unchanged sentences
We manage our debt portfolio to achieve an overall desired proportion of fixed and floating rate debts and may employ interest rate swaps as a tool from time to time to achieve that position.
−Removed: As of September 30, 2020, our aggregate floating rate debt’s outstanding principal balance was $100.8 million, consisting of long-term debt and revolving lines of credit (See Notes 11 and 12).
−Removed: Given the historically low interest rate environment triggered by the COVID-19 pandemic, the Company adopted a more active cash flow hedge strategy to capitalize on the multi-year low interest rate and to mitigate potential rate increases through an interest rate swap contract executed with JP Morgan Chase Bank on June 24, 2020 (the "JPM IRS").
−Removed: The JPM IRS contract effectively locked in the Company's future interest rate expense at aggregate rate of 2.288% per annum on the prevailing balance of the above-mentioned term loan and 1.788% per annum for a portion of the revolving line of credit up to an aggregate amount of $80 million during the contract period (see Note 11 and 12).
−Removed: As of September 30, 2020, approximately 79.3% of our floating rate debts have been effectively hedged for the period from June 30, 2021 to June 30, 2025, inclusive (See Note 10).
−Removed: The remaining 20.7% of our floating rate debt bore interest rates based on floating 1-month LIBOR plus the bank spreads.
−Removed: A hypothetical 1% fluctuation in the applicable rate would cause the interest expense on our unhedged floating rate debt, approximately $21.1 million as of September 30, 2020, to change by approximately $0.2 million per year.
+Added: As of March 31, 2021, our aggregate floating rate debt’s outstanding principal balance was $90.4 million, or 78.2% of total debt, consisting of long-term debt and revolving line of credit (See Notes 10, 11 and 15).
+Added: Floating rate debt bore interest rate based on the floating 1-month LIBOR plus the bank spreads.
+Added: The remaining 21.8% of our debt are on fixed rate.
+Added: A hypothetical 1% fluctuation in the applicable rate would cause the interest expense on our floating rate debt, to change by approximately $0.9 million per year.
Fuel Price Risk
1 unchanged sentence
We require significant quantities of diesel fuel for our vehicle fleet, and the inbound delivery of the products we sell is also dependent upon shipment by diesel-fueled vehicles.
−Removed: We currently are able to obtain adequate supplies of diesel fuel, and prices in the current quarter are lower than in the comparable period of 2019.
+Added: We currently are able to obtain adequate supplies of diesel fuel, and prices in the current quarter increased 6% from the comparable period of 2020.
However, it is impossible to predict the future availability or price of diesel fuel.
4 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.