3 unchanged sentences
We monitor interest rate fluctuations and outlooks as an integral part of our overall risk management program, which recognizes the unpredictability of financial markets and seeks to reduce potentially adverse effects of higher interest rates on our results of operations.
−Removed: As part of this strategy, we may use interest rate swap arrangements to hedge a portion of our interest rate risk by securing hedges that effectively convert our variable rate debt to fixed rate debt.
+Added: As part of this strategy, we use interest rate swap arrangements to hedge a portion of our interest rate risk that effectively converts our variable rate debt to fixed rate debt.
We do not use such instruments for speculative or trading purposes.
−Removed: Based on our borrowings under the Credit Facility and amount of hedging in 2022, a 1% increase in interest rates would have increased interest expense by approximately $5.9 million and would have decreased our annual net income and operating cash flows by a comparable amount.
−Removed: At December 31, 2022, we had four interest rate swap agreements with a total aggregate notional amount of $200.0 million to hedge against changes in interest rates and offset potential increases in interest expense.
−Removed: See “Note 12 - Derivative Instruments and Hedging Activities”
−Removed: in the “Notes to Consolidated Financial Statements”.
+Added: Based on our borrowings under the Credit Facility, a 1% increase in interest rates would have increased interest expense by approximately $6.1 million and would have decreased our annual net income and operating cash flows by a comparable amount.
+Added: At December 31, 2023, we had seven interest rate swap agreements with a total aggregate notional amount of $275.0 million to hedge against changes in interest rates and offset potential increases in interest expense.
+Added: See “Note 12 - Derivative Instruments and Hedging Activities” in the “Notes to Consolidated Financial Statements”.
As a result of conducting business in currencies other than the U.S.
15 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.