3 unchanged sentences
Higher interest rates could adversely affect our revenues, gross margin and net income.
−Removed: We do not enter into, or intend to enter into, derivative financial instruments for trading or speculative purposes.
Quantitative and Qualitative Disclosures About Interest Rate Risk
5 unchanged sentences
Many of the statements contained in this section are forward looking and should be read in conjunction with our disclosures under the heading “ Cautionary Statement about Forward-Looking Statements ” above.
−Removed: As of March 31, 2021, we had $121.5 million of variable rate indebtedness outstanding under the 2020 Credit Agreement.
+Added: As of June 30, 2021, we had $0.3 million of variable rate indebtedness outstanding under the Credit Agreement.
All of the outstanding borrowings under the Credit Agreement are at variable rates based on LIBOR.
−Removed: The interest rate for our variable rate indebtedness as of March 31, 2021 was LIBOR plus 2.35%.
−Removed: At March 31, 2021, LIBOR was 0.11%, subject to the 0.70% LIBOR floor as included in the 2020 Credit Agreement.
+Added: The interest rate for our variable rate indebtedness as of June 30, 2021 was LIBOR plus 1.45%.
+Added: At June 30, 2021, LIBOR was 0.09%, subject to the 0.50% LIBOR floor as included in the Credit Agreement.
A hypothetical 100 basis point increase in the average interest rate above the LIBOR floor on our variable rate indebtedness would increase our annual interest cost by approximately $0.0 million.
1 unchanged sentence
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.