3 unchanged sentences
Our exposure to interest rate fluctuations relate primarily to our Term Loan B and the Revolver.
−Removed: As of September 30, 2021, we had an outstanding balance of $965.0 million on Term Loan B.
+Added: As of December 31, 2021, we had an outstanding balance of $962.5 million on Term Loan B.
Term Loan B bears a floating interest rate of 1.75% plus LIBOR.
−Removed: As of September 30, 2021, an adverse change of one percent on the interest rate would have the effect of increasing our annual interest payment on Term Loan B by approximately $9.7 million, assuming that the loan balance as of September 30, 2021 is outstanding for the entire period (June 30, 2021—$9.7 million).
−Removed: As of September 30, 2021, we had no outstanding balance under the Revolver.
+Added: As of December 31, 2021, an adverse change of one percent on the interest rate would have the effect of increasing our annual interest payment on Term Loan B by approximately $9.6 million, assuming that the loan balance as of December 31, 2021 is outstanding for the entire period (June 30, 2021—$9.7 million).
+Added: As of December 31, 2021, we had no outstanding balance under the Revolver.
Borrowings under the Revolver bear interest per annum at a floating rate of LIBOR plus a fixed rate that is dependent on our consolidated net leverage ratio ranging from 1.25% to 1.75%.
−Removed: As of September 30, 2021, with no outstanding balance on the Revolver, an adverse change of one percent on the interest rate would have no effect on our annual interest payment (June 30, 2021—nil).
+Added: As of December 31, 2021, with no outstanding balance on the Revolver, an adverse change of one percent on the interest rate would have no effect on our annual interest payment (June 30, 2021—nil).
For more information regarding the impact of LIBOR, see "Stress in the global financial system may adversely affect our finances and operations in ways that may be hard to predict or to defend against" included within Part I, Item 1A, "Risk Factors" in our Annual Report on Form 10-K for Fiscal 2021.
6 unchanged sentences
Additionally, we have hedged certain of our Canadian dollar foreign currency exposures relating to our payroll expenses in Canada.
−Removed: Based on the foreign exchange forward contracts outstanding as of September 30, 2021, a one cent change in the Canadian dollar to U.S.
+Added: Based on the foreign exchange forward contracts outstanding as of December 31, 2021, a one cent change in the Canadian dollar to U.S.
dollar exchange rate would have caused a change of $0.7 million in the mark to market on our existing foreign exchange forward contracts (June 30, 2021—$0.7 million).
4 unchanged sentences
dollars for a significant portion of the cash held by these subsidiaries is subject to translation variance caused by changes in foreign currency exchange rates as of the end of each respective reporting period (the offset to which is recorded to accumulated other comprehensive income on our Condensed Consolidated Balance Sheets).
−Removed: The following table shows our cash and cash equivalents denominated in certain major foreign currencies as of September 30, 2021 (equivalent in U.S.
+Added: The following table shows our cash and cash equivalents denominated in certain major foreign currencies as of December 31, 2021 (equivalent in U.S.
(In thousands) U.S.
Equivalent at
−Removed: September 30, 2021 U.S.
+Added: December 31, 2021 U.S.
Equivalent at
12 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.