18 unchanged sentences
The nature and amount of our long-term and short-term debt can be expected to vary as a result of future business requirements, market conditions and other factors.
−Removed: Certain of our borrowing facilities and securitization arrangements are variable-rate obligations and expose us to interest rate risks.
+Added: Certain of our borrowing facilities and our securitization arrangement are variable-rate obligations and expose us to interest rate risks.
As of November 30, 2023, we had approximately $1.3 billion of outstanding term loan debt subject to variable interest rates and our subsidiaries had approximately $208.7 million in the aggregate outstanding under debt facilities subject to variable interest rates.
−Removed: Certain of our other borrowing facilities and securitization arrangements are variable-rate obligations and expose us to interest rate risks.
The outstanding amount of our borrowings under these facilities may fluctuate in response to changes in our working capital and other liquidity requirements.
1 unchanged sentence
Additionally, discount fees paid to sell accounts receivable under our accounts receivable purchase agreements are impacted by changes in interest rates and expose us to interest rate risks.
−Removed: To manage interest rate risk on our U.S.
−Removed: dollar-denominated floating-rate debt, we have also entered into interest rate swaps with aggregate notional amounts of $1.0 billion and $1.5 billion as of November 30, 2022 and 2021, respectively, which effectively converted a portion of the floating rate debt to a fixed interest rate.
−Removed: All of our interest rate swaps as of November 30, 2022 are accounted for as cash flow hedges.
−Removed: A one percentage point (100 basis point) variation in average interest rates would have an impact on annual interest expense of $6.2 million based on the Company's outstanding unhedged variable rate debt at November 30, 2022.
+Added: A one percentage point (100 basis point) variation in average interest rates would have an impact on annual interest expense of $14.7 million based on the Company's outstanding variable rate debt at November 30, 2023.
Equity Price Risk
3 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.