Quantitative and Qualitative Disclosures About Market Risk
−Removed: We are exposed to market risk primarily from changes in the one-month Secured Overnight Financing Rate ("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.
+Added: We are exposed to market risk primarily from changes in the 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.
33 unchanged sentences
We conduct business in various currencies and are exposed to earnings and cash flow volatility associated with changes in foreign currency exchange rates.
−Removed: Our principal exposure results from management and franchise fees earned in foreign currencies, as well as revenues and expenses from our international leased hotels.
+Added: Our principal exposure results from management and franchise fees earned in foreign currencies, as well as revenues and expenses from our international consolidated hotels.
The value of these revenues and expenses could change materially in relation to the functional currencies of the exposed entities and to our reporting currency, USD.
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.