Quantitative and Qualitative Disclosures About Market Risk.
−Removed: In the normal course of business, the Company encounters several significant types of market risks including commodity and interest rate risks.
+Added: In the normal course of business, we encounter several significant types of market risks including commodity and interest rate risks.
Commodity Price Risk
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Interest Rate Risk
−Removed: 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.
+Added: The 2025 Notes, 2026 Notes, 2029 Notes, South Power 2029 Bonds, Barcarena Debentures, EB-5 Loan and Turbine Financing (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 $79.6 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 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: Interest under the Term Loan B, PortoCem Bridge Loan, and BNDES Term Loan have components based on the Secured Overnight Financing Rate ("SOFR"), one-day interbank deposit rate in Brazil, and BNDES fixed rate, respectively.
A 100-basis point increase or decrease in the market interest rates would decrease or increase our annual interest expense by approximately $15.0 million.
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As our operations expand in Brazil, our results of operations will be exposed to changes in fluctuations in the Brazilian real, which may materially impact our results of operations.
+Added: During the first and second quarters of 2024 , we entered into a series of foreign exchange forward contracts and zero-cost collar options to reduce exchange rate risk associated with U.S.
+Added: dollar borrowings and expected capital expenditures.
+Added: As of June 30, 2024 , the notional amount of outstanding foreign exchange contracts was approximately $359,135.
Outside of Brazil, our operations are primarily conducted in U.S.
3 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.