6 unchanged sentences
We may manage our exposure to transactional exposures by entering into foreign currency forward contracts for forecasted transactions and projected cash flows for foreign currencies in future periods.
−Removed: In 2021 and 2022, we entered into financial contracts to hedge the risk of fluctuations associated with the Euro and the Chinese Yuan.
+Added: In 2021 and 2022, we entered into financial contracts at various times to hedge the risk of fluctuations associated with the Euro and the Chinese Yuan.
Interest Rate Risk
Our primary exposure to interest rate risk results from outstanding borrowings under the Amended and Restated Credit Agreement, which bears interest at variable rates.
−Removed: As of June 30, 2022, the outstanding debt under the Amended and Restated Credit Agreement subject to interest rate fluctuations was $694.4 million.
+Added: As of September 30, 2022, the outstanding debt under the Amended and Restated Credit Agreement subject to interest rate fluctuations was $688.8 million.
The variable interest rates on the Credit Agreement fluctuate and expose us to short-term changes in market interest rates as our interest obligation on this instrument is based on prevailing market interest rates.
3 unchanged sentences
We designated the interest rate swaps as cash flow hedges.
−Removed: Refer to Note 9, "Derivatives and Hedging Instruments", for further information on our interest rate swap contracts in effect as of June 30, 2022.
+Added: Refer to Note 9, "Derivatives and Hedging Instruments", for further information on our interest rate swap contracts in effect as of September 30, 2022.
Commodity Price Risk
4 unchanged sentences
If the price of steel increases, our variable costs would also increase.
−Removed: While historically we have successfully mitigated these increased costs through the implementation of price increases, in the future we may not be able to successfully mitigate these costs, which could cause our operating margins to decline.
+Added: While historically we have successfully mitigated these increased costs through the implementation of price increases, in the future we may not be able to successfully mitigate these costs, which could cause our operating margins to
As noted above, higher steel prices not mitigated by price increases will result in a decline in operating margins for the full year of 2022 compared to operating margins for the full year of 2021.
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.