52 unchanged sentences
(2) Based on diluted weighted average common shares outstanding for the year ended December 31, 2021.
−Removed: The following table presents the impact that a one percentage point increase in interest rates would have on our annual floating rate interest expense at December 31, 2020 if we were fully drawn on our revolving credit facility:
−Removed: Impact of Increase in Interest Rates
−Removed: Interest Rate
−Removed: Total Interest
−Removed: Expense Per Year Annual Per
−Removed: Share Impact (2)
−Removed: At December 31, 2020 2.85 % $ 1,000,000 $ 28,500 $ 0.17
−Removed: One percentage point increase 3.85 % $ 1,000,000 $ 38,500 $ 0.23
−Removed: (1) Weighted average based on the interest rates and the outstanding borrowings (assuming fully drawn) as of December 31, 2020.
−Removed: (2) Based on diluted weighted average common shares outstanding for the year ended December 31, 2020.
−Removed: (3) In January 2021, we borrowed $972,793 under our revolving credit facility, and as of February 26, 2021, we remain fully drawn thereunder.
−Removed: The foregoing tables show the impact of an immediate change in floating interest rates as of December 31, 2020.
+Added: The foregoing table shows the impact of an immediate change in floating interest rates as of December 31, 2021.
If interest rates were to change gradually over time, the impact would be spread over time.
2 unchanged sentences
LIBOR Phase Out
−Removed: LIBOR is currently expected to be phased out for new contracts by December 31, 2021 and for pre-existing contracts by June 30, 2023.
−Removed: We are required to pay interest on borrowings under our credit facility at floating rates based on LIBOR.
−Removed: Future debt that we may incur may also require that we pay interest based upon LIBOR.
−Removed: We currently expect that, as a result of any phase out of LIBOR, the interest rates under our credit agreement would be revised as provided under the agreement or amended as necessary to provide for an interest rate that approximates the existing interest rate as calculated in accordance with LIBOR.
+Added: As of December 31, 2021, LIBOR has been phased out for new contracts and is expected to be phased out for pre-existing contracts by June 30, 2023.
+Added: We are required to pay interest on borrowings under our credit facility at floating rates based on LIBOR and interest we may pay on future debt that we may incur may also require that we pay interest based upon LIBOR.
+Added: We currently expect that, as a result of any phase out of LIBOR, the interest rates under our credit agreement will be revised as provided under the agreement or amended as necessary to provide for an interest rate that approximates the existing interest rate as calculated in accordance with LIBOR.
+Added: Despite our current expectations, we cannot be sure that any changes to the determination of interest under our agreements would approximate the current calculation in accordance with LIBOR.
+Added: We cannot be certain of what standard, if any, will replace LIBOR, and any alternative interest rate index that may replace LIBOR may result in our paying increased interest.
Financial Statements and Supplementary Data
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.