23 unchanged sentences
The applicable margin for the Tranche B-2 Dollar Term Loans is 2.25% (in the case of Term SOFR borrowings) and 1.25% (in the case of borrowings at the prime lending rate).
−Removed: To achieve a desired mix of floating and fixed interest rates on our Tranche B-2 Dollar
−Removed: Term Loans, we entered into interest rate swap agreements in April 2023.
+Added: To achieve a desired mix of floating and fixed interest rates on our Tranche B-2 Dollar Term Loans, we entered into interest rate swap agreements in April 2023.
The interest rate swap agreements have a notional amount of $500.0 million and are effective until April 2026.
As a result of these agreements, the interest rate on a portion of our term loan borrowings is fixed at 3.9086%, plus the borrowing spread, until April 30, 2026.
−Removed: The net asset fair value of outstanding interest rate swap contracts was $1.0 million as of December 31, 2024.
+Added: The net liability fair value of outstanding interest rate swap contracts was $0.5 million as of December 31, 2025.
The impact of a hypothetical increase or decrease in interest rates on the fair value of the interest rate swap contracts would be offset by a change in the value of the underlying liability.
−Removed: If interest rates were to increase or decrease by 1%, interest expense for 2025 would increase or decrease by approximately $15.5 million, based on the unhedged portion of our outstanding variable rate borrowings.
+Added: If interest rates were to increase or decrease by 1%, interest expense for 2026 would increase or decrease by $16.9 million, based on the unhedged portion of our outstanding variable rate borrowings.
In September 2024, we completed a private placement of $1.0 billion aggregate principal amount of the 2030 Notes.
12 unchanged sentences
dollar are translated into U.S.
−Removed: dollars at the exchange rate prevailing at the balance sheet date, and at the average exchange rate for the reporting period for revenue and expense accounts.
+Added: dollars at the exchange rate
+Added: prevailing at the balance sheet date, and at the average exchange rate for the reporting period for revenue and expense accounts.
The cumulative foreign currency translation adjustment is recorded as a component of accumulated other comprehensive loss in shareholders’ equity.
2 unchanged sentences
Our primary currency translation exposure is related to our subsidiaries that have functional currencies denominated in sterling and euro.
−Removed: A hypothetical 10% strengthening or weakening in the rates used to translate the results of our foreign subsidiaries that have functional currencies denominated in sterling and euro would have increased or decreased net income for the year ended December 31, 2024 by approximately $78.0 million and $3.3 million, respectively.
+Added: A hypothetical 10% strengthening or weakening in the rates used to translate the results of our foreign subsidiaries that have functional currencies denominated in sterling and euro would have increased or decreased net income for the year ended December 31, 2025 by $63.7 million and $6.9 million, respectively.
Transactional exposure arises where transactions occur in currencies other than the functional currency.
7 unchanged sentences
As of December 31, 2025, we held foreign exchange forward contracts with notional amounts totaling $575.9 million.
−Removed: The net liability fair value of outstanding foreign exchange forward contracts was $7.9 million as of December 31, 2024.
−Removed: Based on our foreign currency exchange rate exposures as of December 31, 2024, a hypothetical 10% adverse fluctuation in exchange rates would decrease the fair value of our foreign exchange forward contracts by approximately $6.9 million.
+Added: The net asset fair value of outstanding foreign exchange forward contracts was $2.5 million as of December 31, 2025.
+Added: Based on our foreign currency exchange rate exposures as of December 31, 2025, a hypothetical 10% adverse fluctuation in exchange rates would decrease the fair value of our foreign exchange forward contracts by $21.1 million.
The resulting loss on these forward contracts would be offset by a positive impact on the underlying monetary assets and liabilities.
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.