−Removed: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: operating results are subject to risk from interest rate fluctuations on our outstanding borrowings.
−Removed: Interest rate risk is highly sensitive
−Removed: due to many factors, including U.S.
+Added: QUANTITATIVE AND QUALITATIVE DISCLOSURES
+Added: ABOUT MARKET RISK
+Added: Interest Rate Risk
+Added: Our operating results are
+Added: subject to risk from interest rate fluctuations on the outstanding borrowings.
+Added: Interest rate risk is highly sensitive due to many factors,
+Added: including U.S.
monetary and tax policies, U.S.
and international economic factors and other factors beyond our control.
−Removed: The proceeds we received from the Term Loans entered into in August 2023 bear interest at variable rates which exposes us to market risks
−Removed: relating to changes in interest rates.
−Removed: As of September 30, 2023, we had
−Removed: $25.0 million of variable rate debt outstanding under our Term Loans and no ABL Loans outstanding under our revolving line of credit.
−Removed: Based on these debt levels, an increase of 100 basis points in the effective interest rate on the outstanding debt amount would result
−Removed: in an increase in interest expense of approximately $0.3 million over the next 12 months.
−Removed: do not use derivative financial instruments for speculative or trading purposes, but this does not preclude our adoption of specific
−Removed: hedging strategies in the future.
+Added: proceeds we received from the Amended and Restated Credit Agreement entered into in January
+Added: 2024 bears interest at a variable rate which exposes us to market risks relating to changes in interest rates.
+Added: As of March 31,
+Added: 2024, we had $62.8 million of variable rate debt outstanding under our new loan under the Amended and Restated Credit Agreement.
+Added: on this debt level, an increase of 100 basis points in the effective interest rate on the outstanding debt amount would result in an increase
+Added: in interest expense of approximately $0.6 million over the next 12 months.
+Added: We do not use derivative financial
+Added: instruments for speculative or trading purposes, but this does not preclude our adoption of specific hedging strategies in the future.
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.