9 unchanged sentences
The Company assumes that a loss in fair value is either a decrease to its assets or an increase to its liabilities.
−Removed: The fair value of the Company's interest rate swap agreements was a net liability of $3.2 million at December 31, 2021.
−Removed: A hypothetical 10% decrease in interest rates would cause a decrease in the fair value of interest rate swap agreements and the liability would increase by less than $0.2 million.
+Added: The fair value of the Company's interest rate swap agreements was a net asset of $16.1 million at December 31, 2022.
+Added: A hypothetical 10% decrease in interest rates would cause a decrease in the fair value of interest rate swap agreements and the asset would decrease by approximately $3.2 million.
FOREIGN CURRENCY EXCHANGE RATE RISK
2 unchanged sentences
The Company uses forward foreign currency exchange contracts to partially reduce risks related to transactions denominated in foreign currencies and not for trading purposes.
−Removed: These contracts generally mature within 36 months and require the companies to buy or sell euros, Japanese
+Added: These contracts generally mature within 36 months and require the companies to buy or sell euros, Japanese yen, U.S.
dollars, Chinese renminbi, British pounds, Mexican pesos, Swedish kroner and Australian dollars for its functional currency at rates agreed to at the inception of the contracts.
4 unchanged sentences
Assuming a hypothetical 10% weakening of the U.S.
−Removed: dollar compared with other foreign currencies at December 31, 2021, the fair value of foreign currency-sensitive financial instruments, which primarily represent forward foreign currency exchange contracts, would be decreased by $21.6 million compared with the fair value at December 31, 2021.
+Added: dollar compared with other foreign currencies at December 31, 2022, the fair value of the liability of foreign currency-sensitive financial instruments, which primarily represent forward foreign currency exchange contracts, would be increased by $11.0 million compared with the fair value at December 31, 2022.
It is important to note that the change in fair value indicated in this sensitivity analysis would be somewhat offset by changes in the revaluation of the underlying receivables and payables.
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.