1 unchanged sentence
The impact of inflation has affected, and will continue to affect, our operations significantly.
−Removed: Our costs of food, merchandise and other revenues are influenced by inflation and fluctuations in global commodity prices.
−Removed: In addition, costs for construction, repairs and maintenance and labor are all subject to inflationary pressures.
+Added: The costs of food, merchandise and other revenues are influenced by inflation and fluctuations in global commodity prices.
+Added: In addition, other costs, such as the costs of fuel, construction, repairs and maintenance, labor, utilities and insurance are all subject to inflationary pressures.
+Added: For further discussion, see the “ Risk Factors ” section of our Annual Report on Form 10-K, as such risk factors may be updated from time to time in our periodic filings with the SEC.
Interest Rate Risk
2 unchanged sentences
We do not acquire market risk sensitive instruments for trading purposes.
−Removed: We previously managed interest rate risk through the use of a combination of fixed-rate long-term debt and interest rate swaps that fixed a portion of our variable-rate long-term debt.
−Removed: In May 2020, our interest rate swap agreements expired.
−Removed: As such, we did not have any derivative instruments outstanding as of September 30, 2021.
+Added: Prior to 2021, we previously managed interest rate risk through the use of a combination of fixed-rate long-term debt and interest rate swaps that fixed a portion of our variable-rate long-term debt.
+Added: We have no interest rate swap agreements outstanding as of March 31, 2022.
We presently manage interest rate risk primarily by managing the amount, sources and duration of our debt funding.
−Removed: At September 30, 2021, approximately $1.2 billion of our outstanding long-term debt represents variable-rate debt.
+Added: At March 31, 2022, approximately $1.2 billion of our outstanding long-term debt represents variable-rate debt.
Assuming an average balance on our revolving credit borrowings of approximately $385.0 million, a hypothetical 100 bps increase in LIBOR would increase our annual interest expense by approximately $15.2 million.
3 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.