Quantitative and Qualitative Disclosures about Market Risk
+Added: Foreign Currency Exchange Risk:
+Added: We receive payment for our imaging services exclusively in United States dollars.
+Added: As a result, our financial results are unlikely to be affected by factors such as changes in foreign currency, exchange rates or weak economic conditions in foreign markets.
+Added: We are exposed to foreign exchange risk with respect to revenues and expenses denominated in the Euro, Canadian Dollar and Hungarian Forint.
+Added: We have Artificial Intelligence operations in the Netherlands and maintain research and development centers in Canada and Hungary.
+Added: At the present time, we do not have any foreign currency exchange contracts to mitigate this risk.
+Added: At March 31, 2022, a hypothetical 1% decline in the currency exchange rates between the U.S.
+Added: dollar against these currencies, would have resulted in an annual increase of approximately $0.2 million in operating expenses.
Interest Rate Sensitivity :
6 unchanged sentences
We can elect Eurodollar or Base Rate (Prime) interest rate options on amounts outstanding under the First Lien Term Loans.
−Removed: At September 30, 2021, we had $723.2 million outstanding subject to a Eurodollar election on First Lien Term Loans and our effective 3 month LIBOR rate plus applicable margin was 3.75%.
+Added: At March 31, 2022, we had $719.6 million outstanding subject to a Eurodollar election on First Lien Term Loans and our effective 3 month LIBOR rate plus applicable margin was 3.75%.
A hypothetical 1% increase in the adjusted Eurodollar rates under the Restated Credit Agreement over the current Eurodollar rate would result in an increase of $7.2 million in annual interest expense and a corresponding decrease in income before taxes.
−Removed: At September 30, 2021, we had $1.8 million loan amount principal outstanding subject to an alternate base rate election on First Lien Term Loans with an effective rate of 5.25%.
+Added: At March 31, 2022, we had $1.8 million loan amount principal outstanding subject to an alternate base rate election on First Lien Term Loans with an effective rate of 5.50%.
A hypothetical 1% increase in the alternative base rate under the First Lien Credit Agreement over the current alternative base rate would result in an increase of $18.1 thousand in annual interest expense and a corresponding decrease in income before taxes.
−Removed: At September 30, 2021, we had $48.0 million outstanding subject to an adjusted Eurodollar election on the SunTrust Restated Credit Agreement.
+Added: At March 31, 2022, we had $45.0 million outstanding subject to an adjusted Eurodollar election on the SunTrust Restated Credit Agreement.
We can elect Eurodollar or Base Rate (Prime) interest rate options on amounts outstanding under the SunTrust Restated Credit Agreement.
−Removed: At September 30, 2021, our effective LIBOR rate plus applicable margin was 1.65%.
+Added: At March 31, 2022, our effective LIBOR rate plus applicable margin was 2.51%.
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.
4 unchanged sentences
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.
−Removed: As of the effective date, we will be liable for premium payments if interest rates decline below arranged rates, but will receive payments under the 2019 Swaps if interest rates rise above the arranged rates.
+Added: As of the effective date, we will be liable for premium
+Added: payments if interest rates decline below arranged rates, but will receive payments under the 2019 Swaps if interest rates rise 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.