QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
−Removed: We are exposed to market risk from adverse changes in interest rates with respect to the short-term floating interest rate on borrowings under our Senior Secured Credit Facilities.
−Removed: As of December 31, 2021, the Company’s Senior Secured Credit Facilities had a gross outstanding balance of $1.6 billion, consisting of a $583.8 million Term Loan A Facility and a $979.9 million Term Loan B-1 Facility, and a Revolving Credit Facility.
−Removed: As of December 31, 2021, we have $674.0 million of available borrowing capacity under our Revolving Credit Facility.
+Added: We are exposed to market risk from adverse changes in interest rates with respect to the short-term floating interest rates on borrowings under our Amended Credit Facilities.
+Added: As of December 31, 2022, the Company’s Amended Credit Facilities had a gross outstanding balance of $1.5 billion, consisting of a $536.2 million Amended Term Loan A Facility and a $995.0 million Amended Term Loan B Facility, and an Amended Revolving Credit Facility.
+Added: As of December 31, 2022, we have $977.5 million of available borrowing capacity under our Amended Revolving Credit Facility.
The table below provides information as of December 31, 2022 about our long-term debt obligations that are sensitive to changes in interest rates, including the notional amounts maturing during the twelve-month period presented and the related weighted-average interest rates by maturity dates.
9 unchanged sentences
5.142 % 5.154 % 5.162 % 5.171 % 4.902 % 6.045 %
−Removed: (1) Estimated rate, reflective of forward LIBOR December 31, 2021 plus the spread over LIBOR applicable to variable-rate borrowing.
+Added: (1) Estimated rate, reflective of forward SOFR as of December 31, 2022 plus the spread over SOFR applicable to variable-rate borrowing.
Foreign Currency Exchange Rate Risk
6 unchanged sentences
We do not currently enter into hedging arrangements to minimize the impact of foreign currency fluctuations on our operations.
−Removed: For the year ended December 31, 2021, we incurred an unrealized foreign currency translation adjustment loss of $54.4 million.
+Added: For the year ended December 31, 2022, we incurred an unrealized foreign currency translation adjustment loss of $114.2 million, as reported in “Foreign currency translation adjustment during the period” within our Consolidated Statements of Comprehensive Income (Loss).
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.