−Removed: Quantitative and Qualitative Disclosures about Market Risk
+Added: Quantitative and Qualitative Disclosures A bout Market Risk
We are exposed to certain market risks arising from transactions we have entered into in the normal course of business.
2 unchanged sentences
The amounts recorded may be at risk if our customers’ ability to pay these obligations is negatively impacted by economic conditions.
−Removed: Our customers are typically in the oil and gas markets, including onshore and offshore oil and gas production, pipeline, refining and liquefied natural gas terminals, as well as petrochemical, electric utility and light traction power.
−Removed: Occasionally, our customer may be an engineering, procurement and construction firm (EPC) which may increase our market risk exposure based on the business climate of the EPC firm.
+Added: Our customers are typically in the oil and gas markets, including onshore and offshore oil and gas production, pipeline, refining and liquefied natural gas terminals, as well as petrochemical, electric utility and light rail traction power.
+Added: Occasionally, our customers may include an engineering, procurement and construction (EPC) firm which may increase our market risk exposure based on the business climate of the EPC firm.
We maintain ongoing discussions with customers regarding contract status with respect to payment status, change orders and billing terms in an effort to monitor collections of amounts billed.
3 unchanged sentences
We attempt to pass along such commodity price increases to our customers on a contract-by-contract basis to avoid a negative effect on profit margin.
−Removed: While we may do so in the future, we have not currently entered into any derivative contracts to hedge our exposure to commodity risk.
+Added: While we may do so in the future, we have not currently entered into any derivative contracts to hedge our exposure to commodity price risk.
We continue to experience price volatility with some of our key raw materials and components.
2 unchanged sentences
Foreign Currency Transaction Risk
−Removed: We have operations that expose us to currency risk in the British Pound Sterling, the Canadian Dollar and to a lesser extent the Peso and the Euro, among others.
+Added: We have foreign operations that expose us to foreign currency exchange rate risk in the British Pound Sterling, the Canadian Dollar and to a lesser extent the Mexican Peso and the Euro, among others.
Amounts invested in our foreign operations are translated into U.S.
1 unchanged sentence
The resulting translation adjustments are recorded as accumulated other comprehensive loss, a component of stockholders’ equity in our Consolidated Balance Sheets.
−Removed: We believe the exposure to the effects that fluctuating foreign currencies have on our consolidated results of operations is limited because the foreign operations primarily invoice customers and collect obligations in their respective currencies or U.S.
+Added: We believe the exposure to the effects that fluctuating foreign currencies have on our consolidated results of operations is limited because the foreign operations primarily invoice customers and collect payments in their respective local currencies or U.S.
Additionally, expenses associated with these transactions are generally contracted and paid for in the same local currencies.
−Removed: For Fiscal 2020, our realized foreign exchange gain was less than $0.1 million and is included in selling, general and administrative expenses in the Consolidated Statements of Operations.
−Removed: Our accumulated other comprehensive loss, which is included as a component of stockholders’ equity, was $24.5 million as of September 30, 2020, a decrease of less than $0.1 million compared to September 30, 2019.
+Added: For Fiscal 2021, our realized foreign exchange loss was $0.4 million and is included in selling, general and administrative expenses in the Consolidated Statements of Operations.
+Added: Our accumulated other comprehensive loss, which is included as a component of stockholders’ equity, was $20.4 million as of September 30, 2021, a decrease of $4.2 million compared to September 30, 2020.
This decrease in comprehensive loss was primarily a result of fluctuations in the currency exchange rates for the Canadian Dollar and British Pound Sterling as we remeasured the foreign operations of those divisions.
7 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.