9 unchanged sentences
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, 2023, the outstanding debt under the Amended and Restated Credit Agreement subject to interest rate fluctuations was $571.9 million.
+Added: As of September 30, 2023, the outstanding debt under the Amended and Restated Credit Agreement subject to interest rate fluctuations was $566.3 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 8, "Derivatives and Hedging Instruments", for further information on our interest rate swap contracts in effect as of June 30, 2023.
+Added: Refer to Note 8, "Derivatives and Hedging Instruments", for further information on our interest rate swap contracts in effect as of September 30, 2023.
Commodity Price Risk
3 unchanged sentences
We do not use any derivative or hedging instruments to manage steel price risk.
−Removed: If the price of steel increases, our variable costs would also increase.
+Added: If the price of steel increases, our variable costs would also
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.
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.