4 unchanged sentences
The Company believes that the political and economic risks related to the Company’s international operations are mitigated due to the geographic diversity in which the Company’s international operations are located.
−Removed: Effective July 1, 2018, Argentina was designated as a highly inflationary economy as the projected three-year cumulative inflation rate exceeded 100%.
−Removed: As such, beginning July 1, 2018, the functional currency for the Company’s Argentina subsidiary became the U.S.
−Removed: Revenue from operations in Argentina represented less than 1% of total consolidated net sales for the three-month periods ended March 31, 2024 and 2023.
−Removed: As of March 31, 2024, the Company had $0.1 million in assets related to foreign currency forward exchange contracts outstanding.
−Removed: The Company does not hold derivatives for trading purposes.
−Removed: The Company’s primary currency rate exposures are related to foreign denominated debt, intercompany debt, foreign denominated receivables and payables and cash and short-term investments.
−Removed: A hypothetical 10% change in currency rates would have an impact on fair values on such instruments of $4.9 million and a $0.6 million impact on income before income taxes at March 31, 2024.
−Removed: The Company is exposed to market risk, including changes in interest rates and foreign exchange rates since we conduct business in a variety of foreign currencies.
−Removed: The Company is subject to interest rate risk on its variable rate revolving credit facilities and term notes, which consisted of current and long-term borrowings of $35.1 million at March 31, 2024.
−Removed: A 100-basis point increase in the interest rate would have resulted in an increase in interest expense of approximately $0.1 million for the three months ended March 31, 2024.
+Added: There have been no material changes in the Company’s exposure to market risk since December 31, 2023.
+Added: See “Item 7A.
+Added: Quantitative and Qualitative Disclosures About Market Risk” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
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.