Quantitative and Qualitative Disclosures About Market Risk
−Removed: We are exposed to market risk primarily from changes in interest rates and foreign currency exchange rates.
+Added: We are exposed to market risk primarily from changes in one-month SOFR, the benchmark rate for which the interest rate of the majority of our variable-rate indebtedness is based on, and foreign currency exchange rates.
These rate changes may affect future income, cash flows and the fair value of the Company, its assets and its liabilities.
1 unchanged sentence
We continue to have exposure to such risks to the extent they are not hedged.
−Removed: We enter into derivative financial instruments to the extent they meet the objectives described above, and we do not use derivatives for speculative purposes.
+Added: We enter into derivative financial instruments to the extent they meet our objectives to reduce volatility in our results of operations and cash flows, and we do not use derivatives for speculative purposes.
Our exposure to market risk has not materially changed from what was previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
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.