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What changed 10-K
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
2022-02-17 compared with 2021-02-19 · 3 added, 2 removed, 17 unchanged (23% of the section changed)
9 unchanged sentences
Interest Rate Risk
−Removed: We have exposure to interest rate risks related to volatility of our floating rate term loan of $250 million and to our ABL facility which currently is undrawn.
−Removed: Both of these loans are tied to LIBOR interest rates which can move in either direction and cause fluctuations in our interest expense recognized in any period and in our cash flows related to interest payments made.
+Added: We have exposure to interest rate risks related to volatility of our floating rate term loan with a balance as of December 31, 2021 of $398 million and to our cash flow revolver facility which currently is undrawn.
+Added: Both of these loans are tied to LIBOR interest rates which can move in either direction and cause fluctuations in our interest
+Added: expense recognized in any period and in our cash flows related to interest payments made.
We make limited use of interest rate swaps to hedge a portion of our exposure to these rate movements.
6 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.