13 unchanged sentences
We are exposed to changes in interest rates primarily as a result of our investing and financing activities.
−Removed: Our current debt structure is used to fund business operations, and commitments from banks under our Senior Revolving Credit Facility and 2024 Receivables Financing Agreement are sources of liquidity.
+Added: Our current debt structure is used to fund business operations, and commitments from banks under our Senior Secured Revolving Credit Facility and 2024 Receivables Financing Agreement are sources of liquidity.
As of December 31, 2025, we had long-term borrowings, including current installments of long-term debt and finance lease obligations, of $2,827.3 million ($2,842.2 million at December 31, 2024) of which $1,060.8 million ($1,063.4 million at December 31, 2024) was issued at variable rates.
−Removed: Included within long-term borrowings on the consolidated balance sheets were deferred debt issuance costs and unamortized bond original issue discount.
+Added: Included within long-term borrowings on the consolidated balance sheets were deferred debt issuance costs.
Assuming no changes in the $1,060.8 million of variable-rate debt levels from December 31, 2025, we estimate that a hypothetical change of 100-basis points in the secured overnight financing rate (SOFR) from 2025 would impact annual interest expense by $10.6 million.
15 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.