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, 2021, our aggregate floating rate debt’s outstanding principal balance was $71.8 million, or 61.2% of total debt, consisting of long-term debt and revolving line of credit (See Notes 9 and 10).
−Removed: Floating rate debt bore interest rate based on the floating 1-month LIBOR plus the bank spreads.
−Removed: The remaining 38.8% of our debt are on a fixed rate.
−Removed: A hypothetical 1% fluctuation in the applicable rate would cause the interest expense on our floating rate debt, to change by approximately $0.7 million per year.
+Added: To manage our interest rate risk exposure, we entered into three interest rate swap contracts to hedge the floating rate term loans.
+Added: See Note 10 - Debt to the unaudited condensed consolidated financial statements in this Form 10-Q for additional information.
+Added: As of September 30, 2022, our aggregate floating rate debt’s outstanding principal balance was $184.2 million, or 94.6% of total debt, consisting of long-term debt and our revolving line of credit.
+Added: See Note 10 - Debt to the unaudited condensed consolidated financial statements in this Form 10-Q for additional information.
+Added: Our floating rate debt interest is based on the floating 1-month SOFR plus a predetermined credit adjustment rate plus the bank spread.
+Added: The remaining 5.4% of our debt is fixed-rate and floating rate with hedge.
+Added: In a hypothetical scenario, a 1% change in the applicable rate would cause the interest expense on our floating rate debt to change by approximately $1.8 million per year.
Fuel Price Risk
−Removed: We are also exposed to fluctuations risk in the price and availability of diesel fuel.
+Added: We are also exposed to risks relating to fluctuations in the price and availability of diesel fuel.
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 increased 38.4% from the comparable period of 2020.
+Added: We currently are able to obtain adequate supplies of diesel fuel, despite the fact that prices in the current quarter increased by 69.9% from the comparable period of 2021.
However, it is impossible to predict the future availability or price of diesel fuel.
1 unchanged sentence
Increases in the cost of diesel fuel could increase our cost of goods sold and operating costs to deliver products to our customers.
−Removed: The Company does not actively hedge the price fluctuation of diesel fuel in general.
−Removed: Instead, we seek to minimize fuel cost risk through delivery route optimization and improving fleet utilization.
+Added: We do not actively hedge against price fluctuations of diesel fuel in general.
+Added: Instead, we seek to minimize fuel cost risk through delivery route optimization and fleet utilization improvements.
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.