6 unchanged sentences
However, we do enter into contracts with commodity providers to limit our exposure to commodity price fluctuations.
−Removed: For the year ended
−Removed: December 31, 2020, such contracts accounted for 17.7% of our total utility costs.
−Removed: 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.
+Added: For the year ended December 31, 2020, such contracts accounted for 17.7% of our total utility costs.
+Added: As of September 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 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.
+Added: As of September 30, 2021, we have $1.3 million of unrecognized foreign currency translation losses 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.
2 unchanged sentences
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.
−Removed: 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.
+Added: As of September 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 June 30, 2021, there were no outstanding borrowings under the AR Facility.
+Added: As of September 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 $3.0 million as of June 30, 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 $1.7 million as of September 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 June 30, 2021.
+Added: (a) The one-month LIBOR rate was approximately 0.1% as of September 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: 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: Provisions for doubtful accounts have declined in the nine months ended September 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.
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.