6 unchanged sentences
For fixed rate debt, changes in market interest rates would not affect the Company’s financial condition or results of operations.
−Removed: Interest on certain borrowings under the Company’s revolving credit facility is calculated using the London Interbank Offered Rate (“LIBOR”).
−Removed: LIBOR will be discontinued as a benchmark interest rate by mid-2023.
−Removed: The discontinuation of LIBOR will require the Company and its lenders to transition from LIBOR to a new benchmark interest rate, the Secured Overnight Financing Rate (“SOFR”).
−Removed: The Company believes that the transition to SOFR will not have a material impact on the Company’s financial condition and results of operations.
Additional information about the Company’s debt is included in Note 8 to the Consolidated Financial Statements in Item 8 of Part II below.
Investment Risks:
−Removed: The Company invests excess cash in short-term money market funds that purchase government securities or corporate debt securities, or in other deposit products allowed under the Company’s Cash Investment Policy.
−Removed: These money market funds and deposits maintain a weighted average maturity of less than 90 days, and
−Removed: accordingly, a one percent change in interest rates is not expected to have a material impact on the fair value of these investments or on interest income.
+Added: The Company invests excess cash in short-term money market funds that purchase government securities or corporate debt securities, or in other deposit products.
+Added: These money market funds and deposits maintain a weighted average maturity of less than 90 days.
+Added: A one percent change in interest rates is not expected to have a material impact on the fair value of these investments or on the Company’s results of operations.
The Company may invest funds on deposit in the CCF in money market funds, U.S.
−Removed: Treasury Obligation Funds or other eligible investments.
+Added: Treasury Obligation Funds or other eligible credit-based investments for maturities of up to three years.
+Added: A one percent change in interest rates is not expected to have a material impact on the fair value of these investments or on the Company’s results of operations.
Foreign Currency Risks:
3 unchanged sentences
Transactions related to the Company’s South Pacific service are primarily denominated in New Zealand dollars.
−Removed: However, a one percent change in the New Zealand dollar exchange rate is not expected to have a material effect on the Company’s results of operations.
+Added: A one percent change in the New Zealand dollar exchange rate is not expected to have a material effect on the Company’s results of operations.
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.