4 unchanged sentences
We currently do not maintain any hedging contracts that would limit our exposure to variable rates of interest when we have outstanding borrowings.
−Removed: As of December 31, 2021, we did not have any borrowings under our Facility.
+Added: As of December 31, 2022, we had $12.9 million of borrowings under our Facility.
+Added: If market rates of interest on all our revolving debt as of December 31, 2022, which is subject to variable rates, permanently increased by 1%, the increase in interest expense on all revolving debt would decrease future income before provision for income taxes and cash flows by approximately $0.1 million annually.
+Added: If market rates of interest on all our revolving debt, which is subject to variable rates as of December 31, 2022, permanently decreased by 1%, the decrease in interest expense on all debt would increase future income before provision for income taxes and cash flows by approximately $0.1 million annually.
Borrowings under our Equipment Notes are at fixed rates established on the date the note was executed.
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.