15 unchanged sentences
We have a Term Loan B Facility under the Credit Agreement which bears a floating rate of interest that resets periodically, subject to a 0.75% floor on that floating rate, according to the terms of the agreement.
−Removed: Our financial results would be exposed to potential changes in the underlying base interest rate on that debt if the underlying base interest rate were to reset above the floor on such underlying interest rate.
−Removed: Similarly, the fair value of Term Loan B Facility may fluctuate when the underlying base interest rate fluctuates below the floor.
+Added: Our financial results have been exposed to changes in the underlying base interest rate on that debt because the underlying base interest rate has now reset above the floor on such underlying interest rate.
+Added: The fair value of Term Loan B Facility may fluctuate when the underlying base interest rate fluctuates below the floor or when the rate of return demanded by our loan investors increases relative to when the loans were issued.
As of December 31, 2022, the Company had no outstanding borrowings under the Revolving Credit Facility.
3 unchanged sentences
The actual impact to our financial results of the same increase in interest rates is expected to be lower than $3.5 million depending on the timing and magnitude of such rate changes relative to our LIBOR Floor, and will be partially offset by higher interest income earned on our cash and cash equivalent balances over the same period.
−Removed: In future periods, we will continue to evaluate our investment policy relative to our overall objectives.
−Removed: With regard to all debt currently outstanding, the company is potentially exposed to refinancing risk, should the Company seek to refinance or raise debt in the future, and the prevailing price or terms for debt differs from terms in our current debt agreements.
+Added: In future periods, we will continue to evaluate our investment opportunities and policy relative to our overall objectives.
+Added: With regard to all debt currently outstanding, the company is potentially exposed to refinancing risk, should the Company seek to refinance existing debt or raise new debt in the future, and the prevailing cost or terms for that debt differs from terms in our current debt agreements.
Foreign Currency Exchange Risk
−Removed: We have foreign currency risks related to our revenue and expenses denominated in currencies other than the U.S.
+Added: based company that does business around the globe, we have foreign currency risks related to our revenue and expenses denominated in currencies other than the U.S.
Dollar, principally the British Pound, Australian Dollar, Canadian Dollar and Euro.
The volatility of exchange rates depends on many factors that we cannot forecast with reliable accuracy.
−Removed: We have experienced and will continue to experience fluctuations in our net
−Removed: income (loss) as a result of transaction gains and losses related to translating certain cash balances, trade accounts receivable and payable balances and intercompany balances that are denominated in currencies other than the U.S.
−Removed: The effect of an immediate 10% adverse change in foreign exchange rates on foreign-denominated accounts at December 31, 2021, including intercompany balances, would result in a foreign currency loss of approximately $6.2 million.
In the event our non-U.S.
−Removed: Dollar denominated sales and expenses increase, our operating results may be more greatly affected by fluctuations in the exchange rates of the currencies in which we do business.
+Added: Dollar denominated revenue and expenses increase, or the volatility of the foreign currencies that we transact in increases, our operating results may be more greatly affected by fluctuations in the exchange rates of those foreign currencies.
+Added: In addition, we have experienced and will continue to experience fluctuations in our net income (loss) as a result of transaction gains and losses related to translating certain cash balances, trade accounts receivable and payable balances and intercompany balances that are denominated in currencies other than the U.S.
+Added: The effect of an immediate 10% adverse change in foreign exchange rates on foreign currency-denominated monetary assets and liabilities at December 31, 2022 and December 31, 2021, including intercompany balances, would result in a foreign currency loss of approximately $10.5 million and $6.2 million, respectively.
At this time we do not, but we may in the future, enter into derivatives or other financial instruments in an attempt to hedge our foreign currency exchange risk.
1 unchanged sentence
Inflation Risk
−Removed: We do not believe that inflation has had a material effect on our business, financial condition, or results of operations.
+Added: We do not believe that cost inflation has had a material effect on our business, financial condition, or results of operations.
If our costs were to become subject to significant inflationary pressures, we might not be able to fully offset such higher costs through price increases.
Our inability or failure to do so could harm our business, financial condition, and results of operations.
+Added: This risk of cost inflation is distinct from the risk that inflation throughout the broader economy could lead to reduced ad spend and indirectly harm our business, financial condition, and results of operations.
+Added: For a discussion of the indirect results of inflation on our business, see "Impact of COVID-19 Pandemic and Other Macroeconomic Developments."
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.