5 unchanged sentences
We are able to limit our exposure to fluctuations in natural gas prices as our pricing in contracts with downstream customers is largely based on the Henry Hub index price plus a contractual spread .
−Removed: In 2022, we entered into a commodity swap transaction as an economic hedge to reduce the risks associated with commodity prices which settled in the first quarter of 2023 resulting in a realized gain of $146.1 million.
−Removed: In January 2023, we entered into a series of commodity swap transactions, and we have recognized an unrealized loss of $1.8 million for the nine months ended September 30, 2023 .
−Removed: We currently do not have other derivative instruments to mitigate the effect of fluctuations in LNG prices on our operations;
−Removed: in the future we may enter into additional derivative instruments.
+Added: We currently do not have any derivative instruments to mitigate the effect of fluctuations in LNG prices on our operations;
+Added: however, in the future we may enter into derivative instruments.
Interest Rate Risk
−Removed: The 2025 Notes, 2026 Notes, Equipment Notes, and South Power 2029 Bonds (each defined above or in our Annual Report) were issued with a fixed rate of interest, and as such, a change in interest rates would impact the fair value of the debt outstanding but such a change would have no impact on our results of operations or cash flows.
+Added: The 2025 Notes, 2026 Notes, 2029 Notes, South Power 2029 Bonds, Barcarena Debentures, and EB-5 Loan (each defined above or in the Annual Report) were issued with a fixed rate of interest, and as such, a change in interest rates would impact the fair value of the debt outstanding but such a change would have no impact on our results of operations or cash flows.
A 100-basis point increase or decrease in the market interest rate would decrease or increase the fair value of our fixed rate debt by approximately $91 million.
The sensitivity analysis presented is based on certain simplifying assumptions, including instantaneous change in interest rate and parallel shifts in the yield curve.
−Removed: Interest under the Barcarena Term Loan has a component based on the Secured Overnight Financing Rate ("SOFR").
−Removed: A 100-basis point increase or decrease in the market interest rate would decrease or increase our annual interest expense by approximately $2 million.
+Added: Interest under the Term Loan B, PortoCem BTG Loan, and BNDES Loan have components based on the Secured Overnight Financing Rate ("SOFR"), one-day interbank deposit rate in Brazil, and BNDES fixed rate, respectively.
+Added: A 100-basis point increase or decrease in the market interest rates would decrease or increase our annual interest expense by approximately $12 million.
Foreign Currency Exchange Risk
8 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.