7 unchanged sentences
At December 31, 2020, a hypothetical 1% decline in the currency exchange rates between the U.S.
−Removed: dollar against the Canadian dollar and the Hungarian Forint would have resulted in an annual increase of approximately $30,000 in operating expenses.
+Added: dollar against the Canadian dollar and the Hungarian Forint would have resulted in an annual increase of approximately $27 thousand in operating expenses.
Interest Rate Sensitivity :
5 unchanged sentences
However due to our purchase of caps, described below, the effects of interest rate changes are limited.
−Removed: Interest Rate Sensitivity Barclays First Lien Term Loans
At December 31, 2020, we had $611.0 million outstanding subject to an adjusted Eurodollar election on First Lien Term Loans.
We can elect Eurodollar or Base Rate (Prime) interest rate options on amounts outstanding under the First Lien Term Loans.
−Removed: To mitigate interest rate risk sensitivity, in the fourth quarter of 2016 we entered into two forward interest rate cap agreements (the “2016 Caps”) which were designated at inception as cash flow hedges of future cash interest payments.
−Removed: The 2016 Caps are designed to provide a hedge against interest rate increases.
−Removed: Under these arrangements, we purchased a cap on 3 month LIBOR at 2.0%.
At December 31, 2020, our effective 6 month LIBOR was 1.00%.
−Removed: The 2016 Caps have a notional amount of $150,000,000 and $350,000,000 and will mature in September and October 2020.
−Removed: We are liable for a $5.3 million premium to enter into the caps which is being accrued and paid over the life of the 2016 Caps.
−Removed: See Note 2 to the consolidated financial statements included in this annual report on Form 10-K.
−Removed: A hypothetical 1% increase in the adjusted Eurodollar rates under the First Lien Credit Agreement over the rates experienced in 2019 would, after considering the effects of the 2016 Caps, result in an increase of $1.5 million in annual interest expense and a corresponding decrease in income before taxes.
+Added: A hypothetical 1% increase in the adjusted Eurodollar rates under the First Lien Credit Agreement over the current Eurodollar rate would result in an increase of $6.1 million in annual interest expense and a corresponding decrease in income before taxes.
At December 31, 2020, we had an additional $9.7 million in debt instruments tied to the prime rate.
−Removed: A hypothetical 1% increase in the prime rate would result in an annual increase in interest expense of approximately $97,000 and a corresponding decrease in income before taxes.
−Removed: These amounts are determined by considering the impact of the hypothetical interest rates on the borrowing costs and cap agreements.
−Removed: Interest Rate Sensitivity SunTrust Term Loan
−Removed: At December 31, 2019 , we had $55.9 million outstanding subject to an adjusted Eurodollar election on the Amended and Restated Revolving Credit and Term Loan Agreement (the "SunTrust Restated Credit Agreement").
−Removed: We can elect Eurodollar or Base Rate (Prime) interest rate options on amounts outstanding under the Restated Agreement.
−Removed: At December 31, 2019 , our effective 3 month LIBOR was 4.10% .
−Removed: A hypothetical 1% increase in the adjusted Eurodollar rates under the SunTrust Restated Agreement over the rates experienced in 2019 would result in an increase of approximately $559,000 in annual interest expense and a corresponding decrease in income before taxes.
−Removed: No amounts are tied to the prime rate under the SunTrust Restated Agreement.
+Added: A hypothetical 1% increase in the prime rate would result in an annual increase in interest expense of approximately $0.1 million and a corresponding decrease in income before taxes.
+Added: These amounts are determined by considering the impact of the hypothetical interest rates on the borrowing costs and swap agreements.
+Added: At December 31, 2020, we had $51.4 million outstanding subject to an adjusted Eurodollar election on the SunTrust Restated Credit Agreement.
+Added: We can elect Eurodollar or Base Rate (Prime) interest rate options on amounts outstanding under the SunTrust Restated Credit Agreement.
+Added: At December 31, 2020 our effective LIBOR rate plus applicable margin was 2.22%.
+Added: A hypothetical 1% increase in the adjusted Eurodollar rates under the SunTrust Restated Credit Agreement would result in an increase of approximately $0.5 million in annual interest expense and a corresponding decrease in income before taxes.
+Added: In the second quarter of 2019, we entered into four forward interest rate agreements ("2019 Swaps").
+Added: The 2019 Swaps have total notional amounts of $500,000,000, consisting of two agreements of $50,000,000 each and two agreements of $200,000,000 each.
+Added: The 2019 Swaps will secure a constant interest rate associated with portions of our variable rate bank debt and have an effective date of October 13, 2020.
+Added: They will mature in October 2023 for the smaller notional and October 2025 for the larger notional.
+Added: Under these arrangements, we arranged the 2019 Swaps with locked in 1 month LIBOR rates at 1.96% for the $100,000,000 notional and at 2.05% for the $400,000,000 notional.
+Added: As of the effective date, we will be liable for premium payments if interest rates decline below arranged rates, but will receive interest payments if rates remain above the arranged rates.
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.