3 unchanged sentences
Based upon the nature of our operations, the principal market risk to which we are exposed is the risk related to interest rate fluctuations.
−Removed: As of September 30, 2023, we had total indebtedness of approximately $175.0 million under the 2027 Term Loan, $200.0 million under the 2028 Term Loan, $150.0 million under the 2029 Term Loan, and $42.0 million of borrowings under the Revolver, all of which are floating rate debt with a variable interest rate.
−Removed: For the three and nine months ended September 30, 2023, we had average daily outstanding borrowings on our Revolver of $12.8 million and $81.4 million, respectively.
−Removed: Effective through the maturity dates of January 15, 2027, February 11, 2028, and January 3, 2029, respectively, we entered into interest rate derivative contracts in order to hedge our market interest risk associated with the 2027 Term Loan, 2028 Term Loan, and 2029 Term Loan, respectively.
+Added: As of March 31, 2024, we had total indebtedness of approximately $175.0 million under the 2027 Term Loan, $200.0 million under the 2028 Term Loan, $250.0 million under the 2029 Term Loan, and $75.0 million of borrowings under the Revolver, all of which are floating rate debt with a variable interest rate.
+Added: For the three months ended March 31, 2024, we had average daily outstanding borrowings on our Revolver of $59.6 million.
+Added: Effective through the maturity dates of January 15, 2027, February 11, 2028, and January 3, 2029, we entered into interest rate derivative contracts in order to hedge our market interest risk associated with the 2027 Term Loan, 2028 Term Loan, and 2029 Term Loan, respectively.
The interest rate derivative contracts convert the variable rate debt on the term loans to a fixed interest rate (as further described in “Note 6 - Debt” in our condensed consolidated financial statements).
1 unchanged sentence
Many factors, including governmental monetary and tax policies, domestic and international economic and political considerations, and other factors that are beyond our control contribute to our interest rate risk.
−Removed: Based on the results of our sensitivity analysis and daily outstanding borrowings on the Revolver during 2023, which assumes a 1% adverse change in the interest rate as of September 30, 2023, the estimated market risk exposure was approximately $0.8 million.
+Added: Based on the results of our sensitivity analysis and daily outstanding borrowings on the Revolver during 2024, which assumes a 1% adverse change in the interest rate as of March 31, 2024, the estimated market risk exposure was approximately $0.6 million.
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.