1 unchanged sentence
We are exposed to certain market risks, including those relating to interest rates and inflation.
−Removed: Interest Rates - Our floating rate financial instruments subject to interest rate risk include a $ 650 million Term Loan, a $ 1.5 billion Revolving Credit Facility, and a $ 1 billion commercial paper program.
+Added: Interest Rates - Our floating rate financial instruments subject to interest rate risk include a Term Loan, a $ 1.5 billion Revolving Credit Facility, and a $ 1 billion commercial paper program.
As of December 31, 2023, we had $ 145 million outstanding on the Term Loan and no indebtedness outstanding under our Revolving Credit Facility or our commercial paper program.
−Removed: Based on the amounts outstanding under our Term Loan as of December 31, 2022, an increase of 1% in interest rates would increase the interest expense on our debt by approximately $2 million on an annual basis.
+Added: Based on the amounts outstanding under our Term Loan as of December 31, 2023, an
+Added: increase of 1% in interest rates would increase the interest expense on our debt by approximately $1 million on an annual basis.
+Added: In January 2024, we paid the remaining $ 145 million balance of the Term Loan.
Inflation - Macroeconomic factors have contributed, and we expect will continue to contribute, to increasing cost inflation for raw materials, components, and supplies.
3 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.