1 unchanged sentence
Our financial position is exposed to a variety of risks, including interest rate risks and foreign currency.
−Removed: Additionally, we have seen an increase in these risks and related uncertainties with increased
−Removed: volatility in the financial markets in the current environment with supply chain shortages.
+Added: Additionally, we have seen an increase in these risks and related uncertainties with increased volatility in the
+Added: financial markets and inflation.
INTEREST RATE RISK
−Removed: Although a substantial portion of our liabilities are non-recourse, fixed-interest-rate instruments, we utilize our lines of credit and other financing facilities which are subject to fluctuations in
−Removed: short-term interest rates.
+Added: Although a substantial portion of our liabilities are non-recourse, fixed-interest-rate instruments, we utilize our lines of credit and other financing facilities which are subject to fluctuations in short-term
+Added: interest rates.
These non-recourse instruments, which are denominated in US dollars, were entered for other than trading purposes and, except for amounts drawn under the WFCDF Credit Facility, bear interest at a fixed rate.
−Removed: Because the interest rate on these instruments is fixed, changes in interest rates will not directly impact our cash flows.
−Removed: Our financing transactions are funded with our cash flows, not debt, and may be subject to interest
−Removed: If the market interest rate exceeds our internal rate of return, we may not fund the transaction to obtain the proceeds.
−Removed: Borrowings under the WFCDF Credit Facility bear interest at a
−Removed: market-based variable rate.
+Added: Because the interest
+Added: rate on these instruments is fixed, changes in interest rates will not directly impact our cash flows.
+Added: Certain financing transactions are funded with our cash flows, not debt, and may be subject to interest rate risk.
+Added: If the market
+Added: interest rate exceeds our internal rate of return, we may not fund the transaction to obtain the proceeds.
+Added: Borrowings under the WFCDF Credit Facility bear interest at a market-based variable rate.
FOREIGN CURRENCY RISK
We have transactions in foreign currencies, primarily in British Pounds, Euros, and Indian Rupees.
−Removed: There is a potential for exposure to fluctuations in foreign currency rates resulting primarily from the translation exposure
−Removed: associated with the preparation of our consolidated financial statements.
+Added: There is a potential for exposure to fluctuations in foreign currency rates resulting primarily from the translation exposure associated with the
+Added: preparation of our consolidated financial statements.
In addition, we have foreign currency exposure when transactions are not denominated in our subsidiary’s functional currency.
−Removed: To date, our foreign operations are
−Removed: insignificant in relation to total consolidated operations, and we believe that potential fluctuations in currency exchange rates will not have a material effect on our financial position.
+Added: To date, our foreign operations are insignificant in relation to
+Added: total consolidated operations, and we believe that potential fluctuations in currency exchange rates will not have a material effect on our financial position.
We lease assets in foreign countries, including Canada, the UK, and several other European countries.
As a lessor, we lease assets for amounts denominated in British Pounds, Euros, and Canadian dollars.
−Removed: foreign operations have been smaller compared to our domestic operations, we believe that potential fluctuations in currency exchange rates will not have a material effect on our financial position.
+Added: As our foreign
+Added: operations have been smaller compared to our domestic operations, we believe that potential fluctuations in currency exchange rates will not have a material effect on our financial position.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
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.