−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES
−Removed: ABOUT MARKET RISK
−Removed: Interest Rate Risk
−Removed: Our operating results are
−Removed: subject to risk from interest rate fluctuations on the outstanding borrowings under our 2020 Credit Agreement.
−Removed: Our term loan and revolving
−Removed: line of credit both bear interest at variable rates, which exposes us to market risks relating to changes in interest rates.
−Removed: rate risk is highly sensitive due to many factors, including U.S.
+Added: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
+Added: operating results are subject to risk from interest rate fluctuations on the outstanding borrowings under our 2020 Credit Agreement.
+Added: Our revolving line of credit bears interest at a variable rate, which exposes us to market risks relating to changes in interest rates.
+Added: Interest rate risk is highly sensitive due to many factors, including U.S.
monetary and tax policies, U.S.
−Removed: and international economic factors
−Removed: and other factors beyond our control.
−Removed: As of September 30, 2022, we had $39.7 million of variable rate debt outstanding under our
−Removed: term loan and no borrowings outstanding under our revolving line of credit.
−Removed: An increase of 100 basis points in the effective interest
−Removed: rate on our outstanding debt at September 30, 2022 would result in an increase in interest expense of approximately $0.4 million over
−Removed: the next 12 months.
−Removed: We do not use derivative financial instruments for speculative or trading purposes, but this does not preclude
−Removed: our adoption of specific hedging strategies in the future.
+Added: and international economic
+Added: factors and other factors beyond our control.
+Added: As of March 31, 2023, we had no variable rate debt outstanding as our term loan was paid
+Added: in full during the first quarter of 2023 and we had no borrowings outstanding under our revolving line of credit.
+Added: We do not use derivative
+Added: financial instruments for speculative or trading purposes, but this does not preclude our adoption of specific hedging strategies in
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.