−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES
−Removed: ABOUT MARKET RISK
−Removed: Interest Rate Risk
+Added: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
operating results are subject to risk from interest rate fluctuations on our outstanding borrowings.
−Removed: Our revolving line of credit under
−Removed: our 2020 Credit Agreement bore interest at a variable rate, which exposed us to market risks relating to changes in interest rates.
−Removed: rate risk is highly sensitive due to many factors, including U.S.
+Added: Interest rate risk is highly sensitive
+Added: due to many factors, including U.S.
monetary and tax policies, U.S.
−Removed: and international economic factors and
−Removed: other factors beyond our control.
−Removed: As of June 30, 2023, we had no variable rate debt outstanding as our term loan was paid in full
−Removed: during the first quarter of 2023 and we had no borrowings outstanding under our revolving line of credit .
−Removed: proceeds we received from the Term Loans entered into in August 2023 bear interest at variable rates which exposes us to market risks
+Added: and international economic factors and other factors beyond our control.
+Added: The proceeds we received from the Term Loans entered into in August 2023 bear interest at variable rates which exposes us to market risks
relating to changes in interest rates.
−Removed: On August 7, 2023, we had $25.0 million of variable rate debt outstanding under our Term
−Removed: Based on these debt levels, an increase of 100 basis points in the effective interest rates on these outstanding debt amounts would
−Removed: result in an increase in interest expense of approximately $0.3 million over the next 12 months.
+Added: As of September 30, 2023, we had
+Added: $25.0 million of variable rate debt outstanding under our Term Loans and no ABL Loans outstanding under our revolving line of credit.
+Added: Based on these debt levels, an increase of 100 basis points in the effective interest rate on the outstanding debt amount would result
+Added: in an increase in interest expense of approximately $0.3 million over the next 12 months.
do not use derivative financial instruments for speculative or trading purposes, but this does not preclude our adoption of specific
1 unchanged sentence
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.