3 unchanged sentences
Our interest rate risk results primarily from our variable rate indebtedness under our credit facility, which is influenced by movements in short-term rates.
−Removed: Borrowings under our $175 million revolving credit facility as well as our $100.0 million senior secured term loan A facility are based on LIBOR, plus an additional margin based on our Funded Debt Leverage Ratio.
−Removed: Based on the amount of variable rate debt, $210.1 million at December 31, 2020, an increase in interest rates by one hundred basis points from our current rate would increase annual interest expense by approximately $2.1 million.
−Removed: Table o f Contents
+Added: Borrowings under our $150 million revolving credit facility as well as our $100.0 million senior secured term loan A facility are based on LIBOR, plus an additional margin based on our Funded D ebt Leverage Ratio.
+Added: Based on the amount of our variable rate debt of $196.1 million at December 31, 2021, an increase in interest rates by one hundred basis points from our current rate would increase annual interest expense by approximately $2.0 million.
Foreign Currency Risk
12 unchanged sentences
Translation adjustments for these movements are recorded as a separate component of Accumulated Other Comprehensive Income in Stockholder Equity.
−Removed: An unfavorable 10% change (strengthening) in the average U.S.
−Removed: Dollar exchange rates for the year ended December 31, 2020 would cause a decrease to our operating loss of approximately $5.9 million.
−Removed: This was primarily driven by our operating losses impacted by impairment charges recorded on March 31, 2020 in certain of our international locations which is more fully described in note 8-Goodwill, 9-Intangible Assets and 17-Leases to the consolidated financial statements.
−Removed: Adjusted for the impairment charges, an unfavorable 10% change (strengthening) in the average U.S.
−Removed: Dollar exchange rates for the year ended December 31, 2020 would cause a decrease in adjusted operating income of approximately $0.3 million.
+Added: For the year ended December 31, 2021, a 10% movement in the average U.S.
+Added: Dollar exchange rates would cause a decrease in adjusted operating income of approximately $0.3 million.
We do not currently enter into forward exchange contracts to hedge exposures denominated in foreign currencies.
4 unchanged sentences
however, this does not preclude our adoption of specific hedging strategies in the future.
−Removed: Effects of Inflation and Changing Prices
−Removed: Our results of operations and financial condition have not been significantly affected by inflation and changing prices.
−Removed: Table o f Contents
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.