7 unchanged sentences
We also are subject to currency translation risk associated with converting our foreign operations’ financial statements into U.S.
+Added: Exchange rates had a negative impact of 5% on our consolidated net revenues in the year ended December 31, 2022 as compared to a positive impact of 3% in the year ended December 31, 2021.
+Added: We cannot assure you that fluctuations in foreign currency exchange rates, particularly the strengthening of the U.S.
+Added: dollar against major currencies, such as the Euro, the Australian dollar, the Canadian dollar, the British pound, or the currencies of large developing countries, would not materially adversely affect our business, financial condition, and results of operations.
We use short-term foreign currency forward contracts to mitigate the impact of foreign exchange fluctuations on consolidated earnings.
−Removed: We use foreign currency derivative contracts, with a total notional amount of $91.6 million as of December 31, 2021, in order to manage the effect of exchange fluctuations on forecasted sales, purchases, acquisitions, inventory and capital expenditures and certain intercompany transactions that are denominated in foreign currencies.
−Removed: We use foreign currency derivative contracts, with a total notional amount of $376.5 million, to hedge the effects of translation gains and losses on intercompany loans and interest.
−Removed: We also use foreign currency derivative contracts, with a total notional amount of $107.0 million, to mitigate the impact to the consolidated earnings of the Company from the effect of the translation of certain subsidiaries’ local currency results into U.S.
+Added: As of December 31, 2022, we held foreign currency derivative contracts, with a total notional amount of $80.0 million in order to manage the effect of exchange fluctuations on forecasted sales, purchases, acquisitions, and capital expenditures and certain intercompany transactions that are denominated in foreign currencies.
+Added: We also used foreign currency derivative contracts, with a total notional amount of $85.1 million as of December 31, 2022, to mitigate the impact to the consolidated earnings of the Company from the effect of the translation of certain subsidiaries’ local currency results into U.S.
We do not use derivative financial instruments for trading or speculative purposes.
9 unchanged sentences
We do not use financial instruments for trading or other speculative purposes and are not a party to any leveraged derivative instruments.
−Removed: Our net exposure to interest rate risk would primarily be based on the difference between outstanding variable rate debt and the notional amount of any interest rate derivatives that are in-the-money.
−Removed: We assess interest rate risk by continually identifying and monitoring changes in interest rate exposures that may adversely impact expected future cash flows and by evaluating hedging opportunities.
−Removed: We maintain risk management control systems to monitor interest rate risk attributable to both our outstanding and forecasted debt obligations as well as any offsetting hedge positions.
−Removed: The risk management control systems involve the use of analytical techniques, including cash flow sensitivity analysis, to estimate the expected impact of changes in interest rates on our future cash flows.
−Removed: The U.K.’s Financial Conduct Authority has announced the intent to phase out the use of LIBOR.
−Removed: In November 30, 2020, the ICE Benchmark Administration Limited (IBA) announced a consultation on its intention to cease the publication of the one-week and two-month USD LIBOR tenors immediately following the LIBOR publication on December 31, 2021, and the remaining USD LIBOR tenors immediately following the LIBOR publication on June 30, 2023.
+Added: Our net exposure to interest rate risk would primarily be based on the difference between outstanding variable rate debt and the notional amount of any interest rate derivatives.
+Added: We assess interest rate risk by identifying and monitoring changes in interest rate exposures that may adversely impact expected future cash flows and by evaluating hedging opportunities.
+Added: We monitor interest rate risk attributable to our outstanding debt obligations, involving the use of analytical techniques to determine the potential impact of interest rate volatility on future interest payments.
+Added: In 2021, ICE Benchmark Administration Limited (IBA) confirmed it would cease publication of the one-week and two-month USD LIBOR tenors immediately following the LIBOR publication on December 31, 2021, and the remaining USD LIBOR tenors immediately following the LIBOR publication on June 30, 2023.
As a result, we may incur incremental interest expense depending on the new standard determined.
10 unchanged sentences
See Item 1A- Risk Factors - Prices and availability of the raw materials we use to manufacture our products are subject to fluctuations and we may be unable to pass along to our customers the effects of any price increases.
−Removed: We have not historically used derivatives or similar instruments to hedge commodity price fluctuations, but may in the future.
+Added: Generally, we do not use derivatives or similar instruments to hedge commodity price fluctuations, but may from time to time.
We purchase from multiple geographically diverse companies to mitigate the adverse impact of higher prices for our raw materials.
4 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.