3 unchanged sentences
For LIBOR loans, the margin is in the range of 1.25% and 2.25%.
−Removed: As of June 24, 2020, we had outstanding borrowings of $138.8 million under our 2018 Revolver, $11.1 million of letters of credit in support of our insurance programs, and the applicable margin on outstanding borrowings under 2018 Revolver was 1.5%.
+Added: As of September 23, 2020, we had outstanding borrowings of $83.8 million under our 2018 Revolver, $8.4 million of letters of credit in support of our insurance programs, and the applicable margin on outstanding borrowings under 2018 Revolver was 1.5%.
In addition, there is currently uncertainty around whether LIBOR will continue to exist after 2021.
1 unchanged sentence
If our lenders have increased costs due to changes in LIBOR, we may experience potential increases in interest rates on our variable rate debt, which could adversely impact our interest expense, results of operations and cash flows.
−Removed: After giving effect to the $40.0 million of interest rate swaps, we effectively had $98.8 million of long-term debt subject to variations in interest rates and a one percent increase in the variable rate of interest would increase annual interest expense by $1.0 million.
+Added: After giving effect to the $40.0 million of interest rate swaps described below, we effectively had $43.8 million of long-term debt subject to variations in interest rates as of September 23, 2020 and a one percent increase in the variable rate of interest would increase annual interest expense by $0.4 million.
We manage our interest rate risk through normal operating and financing activities and, when determined appropriate, through the use of derivative financial instruments.
15 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.