7 unchanged sentences
For the year ended December 31, 2022, such contracts accounted for 6.2% of our total utility costs.
−Removed: As of June 30, 2023, we had active electricity purchase agreements with fixed contract rates for locations in Illinois, New York and Texas, which expire at various dates through May 2025.
+Added: As of September 30, 2023, we had active electricity purchase agreements with fixed contract rates for locations in Illinois, New York and Texas, which expire at various dates through May 2025.
Foreign Exchange Risk
3 unchanged sentences
The functional currency of our international subsidiaries is their respective local currency.
−Removed: As of June 30, 2023, we have $6.3 million of unrecognized foreign currency translation losses included within Accumulated other comprehensive loss on our Consolidated Statement of Financial Position.
+Added: As of September 30, 2023, we have $8.6 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, 2023, we had a $600.0 million variable-rate Term Loan due 2026 outstanding, which has an interest rate of 6.9% per year.
+Added: As of September 30, 2023, we had a $600.0 million variable-rate Term Loan due 2026 outstanding, which has an interest rate of 7.1% 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 $1.5 million.
−Removed: As of June 30, 2023, there were $135.0 million of outstanding borrowings under the AR Facility, at a borrowing rate of 6.2%.
+Added: As of September 30, 2023, there were $150.0 million of outstanding borrowings under the AR Facility, at a borrowing rate of 6.4%.
An increase or decrease of 1/4% in our interest rate on the AR Facility will change our annualized interest expense by approximately $0.4 million.
+Added: As of November 2, 2023, there were $140.0 million of outstanding borrowings under the AR Facility, at a borrowing rate of 6.4%.
We are not currently using derivatives or other financial instruments to mitigate interest rate risk, although we may do so in the future.
3 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.