10 unchanged sentences
For the years ended December 31, 2023, 2022 and 2021, we recorded foreign currency translation gains (losses) of $22.3 million, $(49.2) million and $(4.5) million, respectively, to accumulated other comprehensive loss.
−Removed: Deferred taxes have not been provided on foreign currency translation adjustments as the related undistributed earnings are permanently reinvested.
−Removed: When currencies other than the functional currency are to be paid or received, the resulting transaction gain or loss associated with changes in the applicable foreign currency exchange rate is recognized in the consolidated statements of operations as a component of “Other income (expense), net.” Foreign currency gains or losses from the remeasurement of monetary assets and liabilities as well as unsettled foreign currency transactions, including intercompany transactions that are not of a long-term investment nature, are also recognized as a component of “Other income (expense), net.” For the years ended December 31, 2022, 2021 and 2020, we recorded foreign currency transaction gains (losses) of $(23.4) million, $(1.5) million and $4.6 million, respectively, primarily related to U.S.
+Added: Deferred taxes have not been provided on foreign currency translation adjustments as any outside stock basis differences would be realized in a tax-free manner.
+Added: When currencies other than the functional currency are to be paid or received, the resulting transaction gain or loss associated with changes in the applicable foreign currency exchange rate is recognized in the consolidated statements of operations as a component of “Other income (expense), net.” Foreign currency gains or losses from the remeasurement of monetary assets and liabilities as well as unsettled foreign currency transactions, including intercompany transactions that are not of a long-term investment nature, are also recognized as a component of “Other income (expense), net.” For the year ended December 31, 2023, we recorded foreign currency transaction losses of $4.4 million, primarily reflecting foreign currency losses of $15.7 million related to the devaluation of the Nigerian naira on our naira cash holdings, offset in part by foreign currency gains related to U.S.
dollar denominated intercompany debt in our U.K.
+Added: For the years ended December 31, 2022 and 2021, we recorded foreign currency transaction losses of $23.4 million and $1.5 million, respectively, primarily related to U.S.
+Added: dollar denominated intercompany debt in our U.K.
Interest Rate Risk.
−Removed: In order to maintain a cost-effective capital structure, we borrow funds using a mix of fixed rate debt and variable rate debt.
−Removed: For fixed rate debt, changes in interest rates generally affect the fair value of the debt instrument, but not our earnings or cash flows.
−Removed: Conversely, for variable rate debt, changes in interest rates generally do not impact the fair value of the debt instrument, but may affect our future earnings and cash flows.
−Removed: Changes in fair value should not have a significant impact on fixed rate debt as there is typically no repayment obligation prior to maturity.
−Removed: We currently have no exposure to interest rate risks as we have no outstanding debt subject to floating rates.
−Removed: However, we may be at risk upon refinancing maturing debt.
+Added: In order to minimize the risk of changes to our cash flow due to changing interest rates, we generally borrow at fixed rates, but may borrow at variable rates from time to time.
+Added: For fixed rate debt, changes in interest rates may not affect our interest expense, but could result in changes in the fair value of the debt instrument prior to maturity and we may be at risk upon refinancing maturing debt.
+Added: For variable rate debt, changes in interest rates could affect our future interest expense and cash flows.
+Added: We currently have no amounts outstanding under our ABL Facility or other debt subject to floating rates.
Commodity Price Risk.
1 unchanged sentence
Prices are volatile and unpredictable and are dependent on many factors beyond our control.
−Removed: Risk Factors for a list of factors affecting oil and gas prices.
+Added: Risk Factors for a list of factors affecting oil and natural gas prices.
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.