1 unchanged sentence
We are exposed to changes in financial market conditions in the normal course of business due to use of certain financial instruments as well as transacting business in various foreign currencies.
−Removed: To mitigate the exposure to these market risks, we have established policies, procedures, and internal processes governing the management of financial market risks.
+Added: To mitigate the exposure to these market risks, we
+Added: have established policies, procedures, and internal processes governing the management of financial market risks.
We are exposed to changes in interest rates primarily as a result of borrowing activities.
3 unchanged sentences
To manage interest rate risk, we have used, and may in the future use, interest rate swap agreements.
−Removed: At March 31, 2024, we had $132.5 million of principal outstanding under the Term Loan Facility without regard to capitalized debt issuance costs.
+Added: At June 30, 2024, we had $129.4 million of principal outstanding under the Term Loan Facility, without regard to unamortized debt issuance costs and discount.
A one-percent increase in one-month SOFR would have resulted in a net increase in interest expense of $1.3 million on an annualized basis.
−Removed: At March 31, 2024, using Adjusted SOFR plus a 2.00% spread, any borrowings under the ABL Facility would have been at a 7.418% interest rate.
+Added: At June 30, 2024, using Adjusted SOFR plus a 2.00% spread, any borrowings under the ABL Facility would have been at a 7.431% interest rate.
Foreign Currency Risk
4 unchanged sentences
Various strategies to manage this risk are available to management, including producing and selling in local currencies and hedging programs.
−Removed: We did not hold a position in any foreign currency derivatives as of March 31, 2024.
+Added: We did not hold a position in any foreign currency derivatives as of June 30, 2024.
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.