4 unchanged sentences
We monitor our exposure to these risks, and may employ derivative financial instruments to limit the volatility to earnings and cash flows generated by these exposures.
−Removed: We employ derivative contracts that may or may not be designated for hedge accounting treatment under Financial Accounting Standards Board Accounting Standards Codification Topic 815, Derivatives and Hedging , which can result in volatility to earnings depending upon fluctuations in the underlying markets.
+Added: We employ derivative contracts that may or may not be designated for hedge accounting treatment under FASB ASC Topic 815, Derivatives and Hedging , which can result in volatility to earnings depending upon fluctuations in the underlying markets.
By using derivative instruments, we are subject to credit and market risk.
4 unchanged sentences
Interest Rate Risk
−Removed: As discussed further in Note 14, "Debt," of our audited consolidated financial statements and accompanying notes thereto (our "Financial Statements") included elsewhere in this Annual Report on Form 10-K, the credit agreement governing our secured credit facility (as amended, the "Credit Agreement") provides for senior secured credit facilities consisting of a term loan facility (the "Term Loan"), a $420.0 million revolving credit facility (the "Revolving Credit Facility"), and incremental availability under which additional secured credit facilities could be issued under certain circumstances.
+Added: As discussed further in Note 14, "Debt," of our Financial Statements, the Credit Agreement provides for the Senior Secured Credit Facilities consisting of the Term Loan, the Revolving Credit Facility, and incremental availability under which additional secured credit facilities could be issued under certain circumstances.
The Term Loan accrues interest at a variable rate that is currently based on LIBOR, plus an interest rate margin, in accordance with the terms of the Credit Agreement.
15 unchanged sentences
(Decrease)/Increase to Future Pre-tax Earnings Due to:
−Removed: (In millions)
−Removed: Net Asset/(Liability) Balance as of December 31, 2019
−Removed: 10% Strengthening of the Value of the Foreign Currency Relative to the United States ("U.S.") Dollar
+Added: (In millions) Net (Liability)/Asset Balance as of December 31, 2020 10% Strengthening of the Value of the Foreign Currency Relative to the U.S.
10% Weakening of the Value of the Foreign Currency Relative to the U.S.
+Added: Euro $ (21.3) $ (41.9) $ 41.9
Chinese Renminbi $ (2.2) $ (16.5) $ 16.5
+Added: Japanese Yen $ 0.0 $ 0.9 $ (0.9)
+Added: Korean Won $ (1.0) $ (1.5) $ 1.5
Malaysian Ringgit $ 0.0 $ 0.5 $ (0.5)
+Added: Mexican Peso $ 12.3 $ 15.9 $ (15.9)
British Pound Sterling $ 3.7 $ 7.5 $ (7.5)
(Decrease)/Increase to Future Pre-tax Earnings Due to:
−Removed: (In millions)
−Removed: Net Asset/(Liability) Balance as of December 31, 2018
−Removed: 10% Strengthening of the Value of the Foreign Currency Relative to the U.S.
+Added: (In millions) Net Asset/(Liability) Balance as of December 31, 2019 10% Strengthening of the Value of the Foreign Currency Relative to the U.S.
10% Weakening of the Value of the Foreign Currency Relative to the U.S.
+Added: Euro $ 12.6 $ (41.2) $ 41.2
Chinese Renminbi $ (0.7) $ (10.7) $ 10.7
+Added: Japanese Yen $ 0.0 $ 0.5 $ (0.5)
+Added: Korean Won $ 0.3 $ (2.1) $ 2.1
Malaysian Ringgit $ 0.0 $ 0.5 $ (0.5)
+Added: Mexican Peso $ 8.5 $ 15.5 $ (15.5)
British Pound Sterling $ 0.8 $ 6.7 $ (6.7)
7 unchanged sentences
Net Asset/(Liability) Balance as of
−Removed: December 31, 2019
−Removed: Average Forward Price Per Unit as of December 31, 2019
−Removed: Increase/(Decrease) to Pre-tax Earnings Due to
−Removed: (In millions, except per unit amounts)
−Removed: in the Forward Price
−Removed: in the Forward Price
−Removed: Net (Liability)/Asset Balance as of
−Removed: December 31, 2018
−Removed: Average Forward Price Per Unit as of December 31, 2018
−Removed: Increase/(Decrease) to Pre-tax Earnings Due to
−Removed: (In millions, except per unit amounts)
+Added: December 31, 2020 Average Forward Price Per Unit as of December 31, 2020 Increase/(Decrease) to Pre-tax Earnings Due to
+Added: (In millions, except per unit amounts) 10% Increase
+Added: in the Forward Price 10% Decrease
in the Forward Price
+Added: Silver $ 4.4 $ 26.47 $ 2.0 $ (2.0)
+Added: Gold $ 1.2 $ 1,901.03 $ 1.4 $ (1.4)
+Added: Nickel $ 0.2 $ 7.58 $ 0.1 $ (0.1)
+Added: Aluminum $ 0.1 $ 0.91 $ 0.2 $ (0.2)
+Added: Copper $ 1.2 $ 3.52 $ 0.6 $ (0.6)
+Added: Platinum $ 1.1 $ 1,064.51 $ 0.8 $ (0.8)
+Added: Palladium $ 0.4 $ 2,423.24 $ 0.2 $ (0.2)
+Added: Net Asset/(Liability) Balance as of
+Added: December 31, 2019 Average Forward Price Per Unit as of December 31, 2019 Increase/(Decrease) to Pre-tax Earnings Due to
+Added: (In millions, except per unit amounts) 10% Increase
+Added: in the Forward Price 10% Decrease
in the Forward Price
+Added: Silver $ 1.2 $ 18.15 $ 1.6 $ (1.6)
+Added: Gold $ 1.1 $ 1,539.13 $ 1.2 $ (1.2)
+Added: Nickel $ 0.0 $ 6.41 $ 0.1 $ (0.1)
+Added: Aluminum $ (0.2) $ 0.84 $ 0.3 $ (0.3)
+Added: Copper $ (0.0) $ 2.81 $ 0.7 $ (0.7)
+Added: Platinum $ 0.6 $ 986.68 $ 0.7 $ (0.7)
+Added: Palladium $ 0.4 $ 1,873.95 $ 0.2 $ (0.2)
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.