1 unchanged sentence
The impact of inflation has affected, and will continue to affect, our operations significantly.
−Removed: The costs of food, merchandise and other revenues are influenced by inflation and fluctuations in global commodity prices.
−Removed: 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: The cost 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, freight, utilities and insurance are all subject to inflationary pressures.
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.
4 unchanged sentences
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.
−Removed: We have no interest rate swap agreements outstanding as of March 31, 2022.
+Added: We have no interest rate swap agreements outstanding as of June 30, 2022.
We presently manage interest rate risk primarily by managing the amount, sources and duration of our debt funding.
−Removed: At March 31, 2022, approximately $1.2 billion of our outstanding long-term debt represents variable-rate debt.
+Added: At June 30, 2022, approximately $1.2 billion of our outstanding long-term debt represents variable-rate debt.
+Added: Interest rates have remained at relatively low levels on a historical basis;
+Added: however, recently interest rates have been rising, which could increase our borrowing costs on variable debt.
Assuming an average balance on our revolving credit borrowings of approximately $390.0 million, a hypothetical 100 bps increase in LIBOR would increase our annual interest expense by approximately $15.8 million.
1 unchanged sentence
COVID-19 Risks and Uncertainties
−Removed: For further discussion of the adverse impacts of the COVID-19 pandemic on our business and financial performance, 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.
+Added: For further discussion of the adverse impacts of the COVID-19 pandemic, or any related mutations of the virus, or the risks of other outbreaks of pandemic or contagious diseases (such as the recent declaration by the World Health Organization of Monkeypox as a global health emergency), on our business and financial performance, 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.
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.