9 unchanged sentences
We have a significant amount of indebtedness with a mix of fixed and variable rates of interest.
−Removed: Floating rate debt carries interest based generally on LIBOR, Secured Overnight Financing Rate ("SOFR"), Euro inter-bank offer rate ("EURIBOR") or their equivalents for local currencies or bank conduit commercial paper rates plus an applicable margin.
+Added: Floating rate debt carries interest based generally on Secured Overnight Financing Rate ("SOFR"), Euro inter-bank offer rate ("EURIBOR") or their equivalents for local currencies or bank conduit commercial paper rates plus an applicable margin.
Increase in interest rates could therefore significantly increase the associated interest payments that we are required to make on this debt.
−Removed: See Note 6, "Debt," to the Notes to our consolidated financial statements under the caption Item 8, "Financial Statements and Supplementary Data” included in this 2022 Annual Report.
+Added: See Note 6, "Debt," in Part II, Item 8 of this 2023 Annual Report.
We have assessed our exposure to changes in interest rates by analyzing the sensitivity to our operating results assuming various changes in market interest rates.
1 unchanged sentence
From time to time, we enter into interest rate swap and/or interest rate cap agreements to manage interest rate risk and our mix of fixed and floating rate debt.
−Removed: See Note 12, "Financial Instruments," to the Notes to our consolidated financial statements under the caption Item 8, "Financial Statements and Supplementary Data” included in this 2022 Annual Report.
+Added: See Note 11, "Financial Instruments," in Part II, Item 8 of this 2023 Annual Report.
Foreign Currency Exchange Rate Risk
5 unchanged sentences
We may also purchase foreign currency exchange rate derivative financial instruments to manage exposure to fluctuations in foreign currency exchanges rates.
−Removed: See Note 12, "Financial Instruments," to the Notes to our consolidated financial statements under the caption Item 8, "Financial Statements and Supplemental Data," included in this 2022 Annual Report.
+Added: See Note 11, "Financial Instruments," in Part II, Item 8 of this 2023 Annual Report.
HERTZ GLOBAL HOLDINGS, INC.
6 unchanged sentences
We have determined that a 10% hypothetical change in the price of fuel will not have a material impact on our operating results.
−Removed: The increased cost of vehicles and staffing costs are the primary inflationary factors affecting us.
−Removed: Many of our other operating expenses are also expected to increase with inflation, including health care costs and gasoline.
+Added: Inflationary Risks
+Added: The increased cost of vehicles, higher staffing costs and increased interest expenses are the primary inflationary factors affecting us.
+Added: Many of our other operating expenses are also expected to fluctuate in connection with inflation, such as health care costs, vehicle fueling prices and electric charging costs.
Management does not expect that the effect of inflation on our overall operating costs will be greater for us than for our competitors.
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.