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What changed 10-Q
Item 3. Quantitative and Qualitative Disclosures About Market Risk
2021-07-30 compared with 2021-04-30 · 1 added, 3 removed, 11 unchanged (27% of the section changed)
8 unchanged sentences
Interest rate risk
−Removed: At March 31, 2021, we had $28.9 million in outstanding borrowings under our credit facility, with a weighted average ending interest rate of 2.38%.
−Removed: Also, we have entered into a series of receive-variable, pay-fixed interest rate swaps to hedge the variability in the interest payments on the aggregate principal amount of the term loan component of the credit facility outstanding.
−Removed: At inception, these interest rate swaps were designated as cash flow hedges for hedge accounting.
+Added: At June 30, 2021, we had $6.0 million in outstanding borrowings under our credit facility, with a weighted average ending interest rate of 4.50%.
Our objectives in managing interest rate risk are to lower our overall borrowing costs and limit interest rate changes on our earnings and cash flows.
1 unchanged sentence
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.