10 unchanged sentences
As of December 31, 2023, OTP was party to financial swap agreements with an aggregate notional amount of 187,400 megawatt-hours of electricity with various settlement dates throughout 2024.
−Removed: As of December 31, 2022, the aggregate fair value of these instruments was $7.1 million, reflected as a liability on our consolidated balance sheet.
+Added: As of December 31, 2023, the aggregate fair value of these instruments was $4.2 million, reflected as a liability on our consolidated balance sheets.
Holding other variables constant, a ten percent change in energy prices would have had an approximate $0.7 million impact on the fair value of these instruments.
Our Manufacturing segment businesses are exposed to market risk arising from changes in commodity prices for certain raw material inputs, including steel, aluminum, and polystyrene and other plastics resins.
−Removed: We attempt to manage commodity price risk by passing changes in the cost of these input materials through to our customers.
+Added: We manage commodity price risk by passing changes in the cost of these input materials through to our customers.
If our efforts to manage commodity price risk are unsuccessful, the operating revenues and earnings of our Manufacturing segment could be impacted.
6 unchanged sentences
Interest Rate Risk
−Removed: Our exposure to interest rate risk arises from outstanding short-term debt which is subject to variable rates of interest based on benchmark interest rates, primarily SOFR.
+Added: Our exposure to interest rate risk arises from our outstanding short-term debt which is subject to variable rates of interest based on benchmark interest rates, primarily SOFR, and our cash equivalent investments, which earn income at a rate that fluctuates daily, based on changes in U.S.
+Added: treasury rates.
As of December 31, 2023 and 2022, we had $81.4 million and $8.2 million of short-term debt outstanding.
−Removed: Holding other variables constant, a one percentage point change in interest rates would have had an approximate $0.3 million impact to interest charges in 2022 based on our average outstanding short-term debt during the year.
+Added: Holding other variables constant, a 100 basis point change in interest rates during 2023 would have had an approximate $0.5 million impact to interest expense in 2023 based on our average outstanding short-term debt during the year.
+Added: As of December 31, 2023 and 2022, we had $219.7 million and $105.8 million invested in cash equivalent investments.
+Added: Holding other variables constant, a 100 basis point change in the average interest rates during 2023 would have had an approximate $1.5 million impact to our investment income in 2023 based on our average outstanding investment balance during the year.
All of our outstanding long-term debt obligations as of December 31, 2023 and 2022 had fixed interest rates and were not subject to material interest rate risk.
4 unchanged sentences
We do not enter into interest rate transactions for speculative or trading purposes.
+Added: T able of Contents
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.