2 unchanged sentences
The Company does not use derivative financial instruments for speculative or trading purposes.
+Added: We have exposure to interest rate risk, mainly related to our revolving credit facility, which has variable interest rates.
+Added: Interest rate risk associated with our variable rate debt is the potential increase in interest expense from an increase in interest rates.
+Added: Based on our aggregate outstanding variable rate debt balance of $28.0 million as of September 30, 2024, a hypothetical 1% in variable interest rates would have affected interest expense by approximately $0.3 million.
The Company’s exposure to market risk for changes in interest rates relates to its cash equivalents.
The Company’s cash equivalents consist of funds invested in money market funds, which bear interest at a variable rate.
−Removed: The Company does not participate in interest rate hedging.
A change in interest rates earned on the Company’s cash equivalents would impact interest income and cash flows but would not impact the fair market value of the underlying instruments.
−Removed: Assuming that the balances during fiscal 2023 were to remain constant and that the Company did not act to alter the existing interest rate sensitivity, a hypothetical 1% increase in variable interest rates would have affected interest income by approximately $99,000.
−Removed: This would have resulted in a net impact on cash of approximately $99,000 for fiscal 2023.
+Added: Assuming that the balances during fiscal year 2024 were to remain constant and that the Company did not act to alter the existing interest rate sensitivity, a hypothetical 1% increase in variable interest rates would not have a material impact on our results of operations, financial position or cash flows.
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.