5 unchanged sentences
The term loan B facility currently bears interest based on Adjusted Term SOFR subject to a 0.50% floor plus an initial applicable margin of 2.5%.
−Removed: We used a sensitivity analyses to measure our interest rate risk exposure.
−Removed: If the SOFR rate increases or decreases 1% from June 30, 2022, the additional annual interest expense or savings related to the term loans would amount to approximately $16.8 million.
+Added: We used a sensitivity analysis to measure our interest rate risk exposure.
+Added: If the SOFR rate increases or decreases 1% from September 30, 2022, the additional annual interest expense or savings related to the term loans would amount to approximately $16.8 million.
In order to mitigate and offset a portion of this interest rate risk exposure associated with these debt instruments we entered into interest rate swaps to achieve a targeted mix of fixed and variable-rate debt.
2 unchanged sentences
Derivatives and Hedging Activities to the condensed consolidated financial statements in Part I, Item 1 of this Form 10-Q.
−Removed: Foreign Exchange Risk
+Added: Foreign Currency Exchange Rate Risk
We transact business globally in multiple currencies, some of which are considered volatile.
4 unchanged sentences
We manage our foreign currency exposures on a consolidated basis to take advantage of net exposures and natural offsets, which are then further reduced by the gains and losses of our hedging instruments.
−Removed: Gains and losses on the hedging instruments offset gains and losses on the hedged forecasted transactions and reduce the earnings volatility related to foreign exchange, however we do not hedge our entire foreign exchange exposure and are still subject to earnings volatility due to foreign exchange risk.
−Removed: Our foreign exchange forward contracts hedge a portion of our forecasted foreign currency-denominated revenues and expenses (principally Mexican Pesos, Euros, Czech Koruna, Japanese Yen, U.S.
−Removed: Dollar and Chinese Renminbi) that differ from the functional currency of the operating unit.
+Added: Gains and losses on the hedging instruments offset gains and losses on the hedged forecasted transactions and reduce the earnings volatility related to foreign exchange, however we do not hedge our entire foreign exchange exposure and are still subject to earnings volatility due to foreign currency exchange rate risk.
+Added: Our foreign currency exchange forward contracts hedge a portion of our forecasted foreign currency-denominated revenues and expenses (principally Mexican Pesos, Euros, Czech Koruna, Japanese Yen, U.S.
+Added: Dollar, Chinese Renminbi, Canadian Dollar and Australian Dollar) that differ from the functional currency of the operating unit.
These derivative contracts are designated and qualify as cash flow hedges (see Note 8:
Derivatives and Hedging Activities to the condensed consolidated financial statements in Part I, Item 1 of this Form 10-Q).
−Removed: We performed a sensitivity analysis to estimate changes in the fair value of our foreign exchange derivatives due to potential changes in near-term foreign exchange rates.
−Removed: At June 30, 2022, the effect of a hypothetical 10% weakening in the actual foreign exchange rates used for the applicable currencies did not result in a material impact of these outstanding derivatives contracts.
+Added: We performed a sensitivity analysis to estimate changes in the fair value of our foreign exchange derivatives due to potential changes in near-term foreign currency exchange rates.
+Added: At September 30, 2022, the effect of a hypothetical 10% weakening in the actual foreign currency exchange rates used for the applicable currencies did not result in a material impact on the fair value of these outstanding derivatives contracts.
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.