9 unchanged sentences
Historically, we have not realized significant foreign currency gains or losses on such transactions.
−Removed: During the nine months ended January 31, 2020 and 2019, we recorded foreign currency losses of $2.8 million and $1.4 million, respectively, in general and administrative expenses in the consolidated statements of income.
+Added: During the three months ended July 31, 2020 and 2019, we recorded foreign currency losses of $0.7 million in both periods, in general and administrative expenses in the consolidated statements of operations.
Our exposure to foreign currency exchange rates is primarily driven by fluctuations involving the following currencies — U.S.
−Removed: Dollar, Pound Sterling, Canadian Dollar, Euro, Singapore Dollar, Swiss Franc, and Brazilian Real.
−Removed: Based on balances exposed to fluctuation in exchange rates between these currencies as of January 31, 2020, a 10% increase or decrease in the value of these currencies could result in a foreign exchange gain or loss of $13.8 million.
+Added: Dollar, Pound Sterling, Canadian Dollar, Singapore Dollar, Euro, Swiss Franc, and Brazilian Real.
+Added: Based on balances exposed to fluctuation in exchange rates between these currencies as of July 31, 2020 , a 10% increase or decrease in the value of these currencies could result in a foreign exchange gain or loss of $12.3 million.
We have a program that primarily utilizes foreign currency forward contracts to offset the risks associated with the effects of certain foreign currency exposures.
2 unchanged sentences
Our exposure to interest rate risk is limited to our Revolver and borrowings against the CSV of COLI contracts.
−Removed: As of January 31, 2020, there were no amounts outstanding under the Revolver.
+Added: As of July 31, 2020 , there were no amounts outstanding under the Revolver.
At our option, loans issued under the Credit Agreement bear interest at either LIBOR or an alternate base rate, in each case plus the applicable interest rate margin.
−Removed: The interest rate
−Removed: applicable to loans outstanding under the Credit Agreement may fluctuate between LIBOR plus 1.
−Removed: 1 25% per annum to LIBOR plus 2.00% per annum, in the case of LIBOR borrowings (or between the alternate base rate plus 0.125% per annum and the alternate base rate plus 1.00% per annum, in the alternative), based upon our total funded debt to a djusted EBITDA ratio (as set forth in the Credit Agreement, the “consolidated net leverage ratio”) at such time.
−Removed: During the three and nine months ended January 31, 2020 , the average interest rate on amounts outstanding under the prior revolver was 2.94 % and 3.44 %, respectively.
−Removed: During the three and nine months ended January 31, 2019 , the average interest rate on amounts outstanding under the prior revolver was 3.64 % and 3.42 %, respectively.
−Removed: To mitigate this interest rate risk, we entered into an interest rate swap contract in March 2017 with an initial notional amount of $129.8 million to hedge the variability to changes in cash flows attributable to interest rate risks caused by changes in interest rates related to our variable rate debt.
−Removed: We have designated the swap as a cash flow hedge.
−Removed: On December 16, 2019, in conjunction with the payoff of the Prior Credit Agreement, the Company terminated the interest rate swap and recorded $0.5 million in interest expense, net.
−Removed: We had $92.3 million and $93.2 million of borrowings against the CSV of COLI contracts as of January 31, 2020 and April 30, 2019, respectively, bearing interest primarily at variable rates.
+Added: The interest rate applicable to loans outstanding under the Credit Agreement may fluctuate between LIBOR plus 1.125% per annum to LIBOR plus 2.00% per annum, in the case of LIBOR borrowings (or between the alternate base rate plus 0.125% per annum and the alternate base rate plus 1.00% per annum, in the alternative), based upon our total funded debt to adjusted EBITDA ratio (as set forth in the Credit Agreement, the “consolidated net leverage ratio”) at such time.
+Added: In addition, we are required to pay the lenders a quarterly commitment fee ranging from 0.175% to 0.35% per annum on the average daily unused amount of the Revolver, based upon our consolidated net leverage ratio at such time, and fees relating to the issuance of letters of credit.
+Added: The average interest rate on amounts outstanding under the prior revolver was 3.69% for the three months ended July 31, 2019.
+Added: We had $91.7 million and $92.3 million of borrowings against the CSV of COLI contracts as of July 31, 2020 and April 30, 2020, respectively, bearing interest primarily at variable rates.
The risk of fluctuations in these variable rates is minimized by the fact that we receive a corresponding adjustment to our borrowed funds crediting rate, which has the effect of increasing the CSV on our COLI 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.