3 unchanged sentences
When economically practical, we may enter into new fuel hedges, renew contracts, or engage in other strategies to mitigate market risk.
−Removed: As of March 31, 2021, we had no fuel hedges in place.
+Added: As of June 30, 2021, we had no fuel hedges in place.
While we charge fuel recovery fees to a majority of our customers, we are unable to charge such fees to all customers.
5 unchanged sentences
We also are susceptible to increases in fuel recovery fees from our vendors.
−Removed: Our fuel costs were $78.9 million during the three months ended March 31, 2021, or 3.0% of revenue, compared to $79.6 million, or 3.1% of revenue, during the comparable period in 2020.
+Added: Our fuel costs were $171.3 million during the six months ended June 30, 2021, or 3.2% of revenue, compared to $138.3 million, or 2.8% of revenue, during the comparable period in 2020.
Commodities Price Risk
2 unchanged sentences
In prior periods, we have entered into derivative instruments such as swaps and costless collars designated as cash flow hedges to manage our exposure to changes in prices of these commodities.
−Removed: As of March 31, 2021, we had no recycling commodity hedges in place.
+Added: As of June 30, 2021, we had no recycling commodity hedges in place.
At current volumes and mix of materials, we believe a $10 per ton change in the price of recycled commodities would change both annual revenue and operating income by approximately $12 million.
−Removed: Revenue from recycling processing and commodity sales during the three months ended March 31, 2021 and 2020 was $87.6 million and $67.8 million, respectively.
+Added: Revenue from recycling processing and commodity sales during the six months ended June 30, 2021 and 2020 was $190.6 million and $141.3 million, respectively.
Interest Rate Risk
3 unchanged sentences
We do not use financial instruments for trading purposes and are not a party to any leveraged derivatives.
−Removed: As of March 31, 2021, we had $1,123.8 million of floating rate debt and $300.0 million of floating interest rate swap contracts.
+Added: As of June 30, 2021, we had $1,324.9 million of floating rate debt and $300.0 million of floating interest rate swap contracts.
If interest rates increased or decreased by 100 basis points on our variable rate debt, annualized interest expense and net cash payments for interest would increase or decrease by approximately $16 million.
2 unchanged sentences
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.