7 unchanged sentences
Our operations outside of the U.S.
−Removed: represented 49.8% and 48.2% of our revenue during the three months ended March 31, 2023 and the year ended December 31, 2022, respectively.
+Added: represented 50.4% and 48.2% of our revenue during the six months ended June 30, 2023 and the year ended December 31, 2022, respectively.
An increase or decrease in the strength of the U.S.
−Removed: dollar against these currencies by 10% would result in a 5.0% change in our consolidated revenue and a 3.6% change in our operating income for the three months ended March 31, 2023.
+Added: dollar against these currencies by 10% would result in a 5.0% change in our consolidated revenue and a 3.9% change in our operating income for the six months ended June 30, 2023.
See our Results of Operations discussion in Part I, Item 2 of this Quarterly Report on Form 10-Q for additional information regarding the impact of fluctuations in exchange rates on our year over year results.
5 unchanged sentences
dollar and the Taiwan dollar.
−Removed: We hedge our exposure to foreign currency fluctuations related to a portion of inventory purchases in our Europe operations, but the notional amount and fair value of these foreign currency forward contracts at March 31, 2023 were immaterial.
+Added: We hedge our exposure to foreign currency fluctuations related to a portion of inventory purchases in our Europe operations, but the notional amount and fair value of these foreign currency forward contracts at June 30, 2023 were immaterial.
We do not currently attempt to hedge foreign currency exposure related to our foreign currency denominated inventory purchases in our Wholesale - North America operations, and we may not be able to pass on any resulting price increases to our customers.
6 unchanged sentences
We have elected not to hedge the foreign currency risk related to the interest payments on foreign third party borrowings as we generate cash flows in the local currencies that can be used to fund debt payments.
−Removed: As of March 31, 2023, we had outstanding borrowings of €500 million under our Euro Notes (2024) and €250 million under our Euro Notes (2028), and €807 million and Swedish Krona ("SEK") 70 million under our revolving credit facilities.
+Added: As of June 30, 2023, we had outstanding borrowings of €500 million under our Euro Notes (2024) and €250 million under our Euro Notes (2028), and €675 million and Swedish Krona ("SEK") 65 million under our revolving credit facilities.
As of December 31, 2022, we had outstanding borrowings of €500 million under our Euro Notes (2024) and €250 million under our Euro Notes (2028), and €748 million and SEK 75 million under our revolving credit facilities.
7 unchanged sentences
See Note 16, "Long-Term Obligations" and Note 17, "Derivative Instruments and Hedging Activities" to the Unaudited Condensed Consolidated Financial Statements in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.
−Removed: Additionally, in March 2023, we entered into two sets of interest rate swap agreements related to the Uni-Select Acquisition.
−Removed: See Note 17, "Derivative Instruments and Hedging Activities" to the Unaudited Condensed Consolidated Financial Statements in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.
−Removed: At March 31, 2023, we had approximately $1,135 million of variable rate debt that was not hedged.
+Added: At June 30, 2023, we had approximately $1,026 million of variable rate debt that was not hedged.
Using sensitivity analysis, a 100 basis point movement in interest rates would change interest expense by $10 million over the next twelve months.
6 unchanged sentences
Additionally, if market prices were to change at a higher or lower rate than our vehicle acquisition costs, we could experience a positive or negative effect on our operating margin.
−Removed: The average of scrap metal prices for the three months ended March 31, 2023 increased by 33% over the average for the fourth quarter of 2022.
−Removed: The average prices of rhodium, palladium, and platinum decreased by 44%, 37% and 4%, respectively, for the three months ended March 31, 2023 compared to the average prices for the three months ended March 31, 2022.
+Added: The average of scrap metal prices for the three months ended June 30, 2023 decreased by 5% over the average for the first quarter of 2023.
+Added: The average prices of rhodium and palladium decreased by 61% and 34%, respectively, while platinum increased by 6% for the three months ended June 30, 2023 compared to the average prices for the three months ended June 30, 2022.
We are exposed to market risks related to inflation in product, labor, shipping, freight and general overhead costs.
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.