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What changed 10-K
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
2025-02-20 compared with 2024-02-16 · 2 added, 1 removed, 16 unchanged (16% 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 with a balance as of December 31, 2023, of $390.0 million and to our cash flow revolver facility which currently is undrawn.
+Added: We have exposure to interest rate risks related to volatility of our floating rate term loan of $386.0 million and to our revolving credit facility which had $56.0 million of outstanding borrowings at December 31, 2024.
Both of these loans are tied to SOFR 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.
1 unchanged sentence
The acquisition of any interest rate derivatives is undertaken by senior management when appropriate with delegated authority from the appropriate Board level committee.
+Added: A 10% increase or decrease in the interest rate would have an immaterial impact on the financial statements of the Company at December 31, 2024.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
2 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.