10 unchanged sentences
Refer to Note 18 in the Notes to Condensed Consolidated Financial Statements for further discussion about the interest rate swap.
−Removed: At June 30, 2020, we had $523.4 million and $251.3 million of principal outstanding under the Senior Secured Term Loan and Incremental Term Loan, respectively, without regard to capitalized debt issuance costs.
−Removed: At June 30, 2020, $700.0 million of this outstanding principal was hedged.
−Removed: A one-percent increase in one-month LIBOR would result in a net decrease in interest expense of $2.2 million on an annualized basis due to the fact that the Senior Secured Term Loan is subject to a LIBOR floor of 0.75% and one-month LIBOR was below the floor as of June 30, 2020.
−Removed: Our interest rate swap does not have a LIBOR floor.
−Removed: At June 30, 2020, we had $62.5 million of principal outstanding under the Senior Secured Revolver, without regard to capitalized debt issuance costs.
−Removed: At June 30, 2020, a one-percent increase in the interest rate charged on outstanding variable rate borrowings under the Senior Secured Revolver would increase interest expense for an annual period by approximately $0.6 million.
+Added: At September 30, 2020, we had $522.0 million and $248.4 million of principal outstanding under the Senior Secured Term Loan and Incremental Term Loan, respectively, without regard to capitalized debt issuance costs.
+Added: At September 30, 2020, $700.0 million of this outstanding principal was hedged.
+Added: On October 6, 2020, $700.0 million of this outstanding principal was paid.
+Added: After the October 6, 2020, payment, a one-percent increase in one-month LIBOR would result in a net increase in interest expense of $0.4 million on an annualized basis due to the fact that the Senior Secured Term Loan is subject to a LIBOR floor of 0.75% and one-month LIBOR was below the floor as of September 30, 2020.
+Added: At September 30, 2020, we had $59.0 million of principal outstanding under the Senior Secured Revolver, without regard to capitalized debt issuance costs.
+Added: At September 30, 2020, a one-percent increase in the interest rate charged on outstanding variable rate borrowings under the Senior Secured Revolver would increase interest expense for an annual period by approximately $0.6 million.
Foreign Currency Risk
3 unchanged sentences
From time to time, we may use foreign currency derivatives to hedge currency exposures when these exposures meet certain discretionary levels.
−Removed: We did not hold a position in any foreign currency derivatives as of June 30, 2020.
+Added: We did not hold a position in any foreign currency derivatives as of September 30, 2020.
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.