1 unchanged sentence
Interest Rate Risk
−Removed: The Company’s primary market risk exposure is changing LIBOR‑based interest rates.
+Added: The Company’s primary market risk exposure is changing SOFR‑based interest rates.
Interest rate risk is highly sensitive due to many factors, including U.S.
3 unchanged sentences
See Note 11, Indebtedness , of the consolidated financial statements for more information.
−Removed: To reduce interest rate risk, the Company has utilized an interest rate derivative contract to hedge against fluctuations in LIBOR rates on the First Lien Term Loan.
−Removed: In conjunction with the October 2021 debt refinancing, the Company entered into an interest rate cap hedge with a notional amount of $300.0 million for a 5-year term effective on November 30, 2021.
+Added: To reduce interest rate risk, the Company has utilized an interest rate derivative contract to hedge against fluctuations in SOFR rates on the First Lien Term Loan.
+Added: In conjunction with the October 2021 debt refinancing, the Company entered into an interest rate cap hedge with a notional amount of $300.0 million for a five-year term, effective on November 30, 2021.
See Note 12, Derivative Instruments , of the consolidated financial statements for more information.
−Removed: A hypothetical 100-basis point increase or decrease in market interest rates associated with the unhedged variable-rate debt over a twelve-month period would result in a change to interest expense of approximately $3.0 million.
+Added: A hypothetical 100-basis point increase or decrease in market interest rates associated with the unhedged variable-rate debt over a 12-month period would result in a change to interest expense of approximately $2.9 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.