10 unchanged sentences
Established procedures and internal processes govern the management of this market risk.
−Removed: Increases in market interest rates would cause interest expense under our variable interest rate debt to increase and earnings before income taxes to decrease.
−Removed: The change in interest expense and earnings before income taxes would be dependent upon the weighted average outstanding borrowings under variable interest rate debt during the reporting period following an increase in market interest rates.
−Removed: Based on weighted average outstanding variable-rate borrowings at March 31, 2026, a 100 basis point increase over the current rates actually in effect at such date would increase our interest expense on an annual basis by $360.
−Removed: Based on weighted average outstanding fixed-rate borrowings at March 31, 2026, a 100 basis point increase in market rates would result in a decrease in the fair value of our outstanding fixed-rate debt of $16,805, and a 100 basis point decrease in market rates would result in an increase in the fair value of our outstanding fixed-rate debt of $19,445.
+Added: To manage a portion of the interest rate exposure related to variable rate borrowings, we entered into three pay-fixed, receive-floating interest rate swaps with an aggregate notional amount of $55,000 that became effective on June 30, 2026.
+Added: We have designated each swap as a cash flow hedge of the variability in interest payments attributable to changes in one-month Term SOFR on a corresponding amount of our Credit Agreement.
+Added: Additionally, the International Swaps and Derivative Association master netting arrangement for our derivative instruments contain credit risk-related contingent features, such as cross-default provisions and credit support requirements.
+Added: In the event of certain defaults or a credit ratings downgrade, our counterparty may request early termination and net settlement of certain derivative trades or may require us to collateralize derivatives in a net liability position (See Note 5, Derivative Instruments and Hedging Activities).
+Added: We are exposed to interest rate risk on the remaining portion of the borrowings on our variable rate debt in excess of the notional principal amount of our interest rate swap contracts.
+Added: Increases in market interest rates would cause interest expense under the unhedged portion of our variable interest rate debt to increase and earnings before income taxes to decrease.
+Added: The change in interest expense and earnings before income taxes would be dependent upon the weighted average outstanding borrowings under the unhedged portion of variable interest rate debt during the reporting period following an increase in market interest rates.
+Added: Based on weighted average outstanding, unhedged portion of the variable-rate borrowings, at June 30, 2026, a 100 basis point increase over the current rates actually in effect at such date would increase our interest expense on an annual basis by $1,070.
+Added: Based on weighted average outstanding fixed-rate borrowings at June 30, 2026, a 100 basis point increase in market rates would result in a decrease in the fair value of our outstanding fixed-rate debt of $17,908, and a 100 basis point decrease in market rates would result in an increase in the fair value of our outstanding fixed-rate debt of $17,135.
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.