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Debt Obligations under Credit Agreement
−Removed: At March 29, 2020, our total debt obligations under our credit agreement were under LIBOR-based interest rates.
−Removed: A 100-basis point increase in the underlying LIBOR and prime rates would result in additional annual interest cost of approximately $0.3 million, assuming average borrowings, including our term loan, subject to variable rates of $33.0 million, which was the amount of such borrowings outstanding at March 29, 2020 subject to variable rates.
+Added: At June 28, 2020, our total debt obligations under our credit agreement were under LIBOR-based interest rates.
+Added: A 100-basis point increase in the underlying LIBOR and prime rates would result in additional annual interest cost of approximately $0.3 million, assuming average borrowings, including our term loan, subject to variable rates of $31.3 million, which was the amount of such borrowings outstanding at June 28, 2020 subject to variable rates.
The $31.3 million excludes deferred financing costs related to the term loan and $200.0 million of borrowings outstanding under the revolver and term loan that are hedged at a fixed interest rate through interest rate swaps.
−Removed: Commodity Volatility
+Added: Commodity Price Volatility
The prices of key raw materials, consisting primarily of lauan, gypsum, particleboard, aluminum, softwoods lumber, and petroleum-based products are influenced by demand and other factors specific to these commodities, such as the price of oil, rather than being directly affected by inflationary pressures.
−Removed: Prices of certain commodities have historically been volatile and continued to fluctuate in the first three months of 2020 .
+Added: Prices of certain commodities have historically been
+Added: volatile and continued to fluctuate in the second quarter and first six months of 2020 .
During periods of volatile commodity prices, we have generally been able to pass both price increases and decreases to our customers in the form of price adjustments.
2 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.