1 unchanged sentence
Interest Rate Risk
−Removed: As of June 30, 2020, all of our short-term debt bore interest at a variable rate, tied to LIBOR as a reference rate.
+Added: As of December 31, 2020, all of our short-term debt bore interest at a variable rate, tied to LIBOR as a reference rate.
Changes in the underlying LIBOR interest rate on our short-term debt could affect our earnings.
For example, a hypothetical 100 basis point increase in the interest rate on our short-term debt would result in an increase of approximately $1.6 million in annual pre-tax interest expense.
−Removed: This estimated increase is based upon the outstanding balance of our short-term debt as of June 30, 2020, and assumes no mitigating changes by us to reduce the outstanding balances and no additional interest assistance that could be received from vendors due to the interest rate increase.
+Added: This estimated increase is based upon the outstanding balance of our short-term debt as of December 31, 2020 and assumes no mitigating changes by us to reduce the outstanding balances and no additional interest assistance that could be received from vendors due to the interest rate increase.
Foreign Currency Exchange Rate Risk
5 unchanged sentences
Thus, such fluctuations in exchange rates ultimately may impact the amount of revenue, cost of goods sold, cash flows and earnings we recognize for such foreign products.
−Removed: predict the effects of exchange rate fluctuations on our operating results.
+Added: We cannot predict the effects of exchange rate fluctuations on our operating results.
In certain cases, we may enter into foreign currency cash flow hedges to reduce the variability of cash flows associated with forecasted purchases of boats and yachts from European-based and Chinese-based manufacturers.
1 unchanged sentence
If and when we do engage in foreign currency exchange hedging transactions, there can be no assurance that our strategies will adequately protect our operating results from the effects of exchange rate fluctuations.
−Removed: Additionally, the Fraser Yachts Group and Northrop & Johnson have transactions and balances denominated in currencies other than the U.S dollar.
+Added: Additi onally, the Fraser Yachts Group and Northrop & Johnson have transactions and balances denominated in currencies other than the U.S .
Most of the transactions or balances for Fraser Yachts Group are denominated in euros.
2 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.