8 unchanged sentences
dollar as their functional currency are translated using the exchange rates in effect at the balance sheet date, and changes in the exchange rates can result in translation adjustments that are reflected in “Accumulated other comprehensive loss” in the shareholders’ equity section of our condensed consolidated balance sheets.
−Removed: For the nine-month period ended September 30, 2023, we recorded foreign currency translation gains of $4.1 million 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 condensed 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 three-month period ended September 30, 2023, we recorded net foreign currency losses of $8.3 million, primarily reflecting foreign currency losses related to U.S.
−Removed: dollar denominated intercompany debt in our U.K.
−Removed: For the nine-month period ended September 30, 2023, we recorded net foreign currency losses of $10.6 million, primarily reflecting foreign currency losses of $12.8 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.
+Added: For the three-month period ended March 31, 2024, we recorded foreign currency translation losses of $6.7 million to accumulated other comprehensive loss.
+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 condensed 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 three-month period ended March 31, 2024, we recorded net foreign currency losses of $2.2 million, primarily reflecting foreign currency losses related to U.S.
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 and variable rate 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.
For variable rate debt, changes in interest rates could affect our future interest expense and cash flows.
−Removed: Alternatively 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.
−Removed: We currently have no exposure to interest rate risks as we have no outstanding debt subject to floating rates.
−Removed: However, we are subject to risks upon refinancing our debt.
+Added: We currently have no amounts outstanding under our ABL Facility or other debt subject to floating rates.
Commodity Price Risk.
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.