8 unchanged sentences
December 31, 2020, such contracts accounted for 17.7% of our total utility costs.
−Removed: As of March 31, 2021, we had active electricity purchase agreements with fixed contract rates for locations throughout Illinois, New Jersey, Pennsylvania and Texas, which expire at various dates through June 2024.
+Added: As of June 30, 2021, we had active electricity purchase agreements with fixed contract rates for locations throughout Illinois, New Jersey, Pennsylvania and Texas, which expire at various dates through June 2024.
Foreign Exchange Risk
3 unchanged sentences
The functional currency of our international subsidiaries is their respective local currency.
−Removed: As of March 31, 2021, we have $0.1 million of unrecognized foreign currency translation losses included within Accumulated other comprehensive loss on our Consolidated Statement of Financial Position.
+Added: As of June 30, 2021, we have $2.4 million of unrecognized foreign currency translation gains included within Accumulated other comprehensive loss on our Consolidated Statement of Financial Position.
Substantially all of our transactions at our Canadian subsidiary are denominated in their local functional currency, thereby reducing our risk of foreign currency transaction gains or losses.
1 unchanged sentence
Interest Rate Risk
−Removed: We are subject to interest rate risk to the extent we have variable-rate debt outstanding including under the Senior Credit Facilities and the AR Securitization Facilities.
−Removed: As of March 31, 2021, we had a $600.0 million variable-rate Term Loan due 2026 outstanding, which has an interest rate of 1.9% per year.
+Added: We are subject to interest rate risk to the extent we have variable-rate debt outstanding including under the Senior Credit Facilities and the AR Facility.
+Added: As of June 30, 2021, we had a $600.0 million variable-rate Term Loan due 2026 outstanding, which has an interest rate of 1.8% per year.
An increase or decrease of 1/4% in our interest rate on the Term Loan will change our annualized interest expense by approximately $1.0 million.
−Removed: As of March 31, 2021, there were no outstanding borrowings under either the AR Facility or the Repurchase Facility.
+Added: As of June 30, 2021, there were no outstanding borrowings under the AR Facility.
We have several interest rate cash flow swap agreements to effectively convert a portion of our LIBOR-based variable rate debt to a fixed rate and hedge our interest rate risk related to such variable rate debt.
−Removed: The fair value of these swap positions was a net unrecognized loss of approximately $4.3 million as of March 31, 2021, and is included in Other liabilities on our Consolidated Statement of Financial Position.
+Added: The fair value of these swap positions was a net unrecognized loss of approximately $3.0 million as of June 30, 2021, and is included in Other liabilities on our Consolidated Statement of Financial Position.
The following table provides information about our interest rate swap agreements, which are sensitive to changes in interest rates.
6 unchanged sentences
one-month LIBOR one-month LIBOR — — — — —
−Removed: (a) The one-month LIBOR rate was approximately 0.1% as of March 31, 2021.
+Added: (a) The one-month LIBOR rate was approximately 0.1% as of June 30, 2021.
In the opinion of our management, credit risk is limited due to the large number of customers and advertising agencies utilized.
1 unchanged sentence
We have experienced an increase in credit losses as a result of the COVID-19 pandemic and accordingly, we recorded additional provisions for doubtful accounts in 2020.
−Removed: We expect provisions for doubtful accounts to decline in 2021.We do not currently use derivatives or other financial instruments to mitigate credit risk.
+Added: Provisions for doubtful accounts have declined in the six months ended June 30, 2021, compared to the same prior-year period and we expect provisions for doubtful accounts to continue to decline through the remainder of the year.
+Added: We do not currently use derivatives or other financial instruments to mitigate credit risk.
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.