4 unchanged sentences
The Company does not generally use derivative financial instruments in connection with these market risks, except as noted below.
−Removed: Interest Rates - The Company's most significant long-term instrument is the domestic credit facility, which bears interest at variable rates based on LIBOR (Euro-LIBOR for balances drawn in Euros).
+Added: Interest Rates - The Company's most significant long-term instrument is the domestic credit facility.
+Added: dollar denominated debt under the domestic credit facility bears interest at variable rates based on SOFR (LIBOR for periods prior to March 2023).
The following table presents information related to interest rate contracts entered into by the Company and designated as cash flow hedges:
8 unchanged sentences
The fair value of the interest rate swaps reflected a net unrealized gain of $4.0 million ($3.0 million after-tax) at September 30, 2023 that is included in equity as part of AOCI.
−Removed: A hypothetical decrease of 10% in market interest rates (e.g., a decrease from 5.0% to 4.5%) would result in a decrease of approximately $2.5 million in the fair value of the interest rate swaps.
+Added: A hypothetical decrease of 10% in market interest rates (e.g., a decrease from 5.0% to 4.5%) would result in a decrease of approximately $502,000 in the fair value of the interest rate swaps.
Foreign Currency Exchange Rates - The Company is subject to changes in various foreign currency exchange rates, primarily including the Euro, British Pound, Canadian Dollar, and Australian Dollar in the conversion from local currencies to the U.S.
5 unchanged sentences
Dollar/Euro cross currency swap) with a notional amount of $81.4 million designated as a net investment hedge of foreign operations.
−Removed: The net unrealized gain for this swap contract at September 30, 2022 was of $2.8 million (net of income taxes of $0.9 million).
+Added: The net unrealized loss for this swap contract at September 30, 2023 was of $2.1 million (net of income taxes of $701,000).
As of September 30, 2023, the potential gain or loss in the fair value of the swap contract assuming a hypothetical 10% fluctuation in the market rates would be approximately $9.0 million.
8 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.