12 unchanged sentences
To the extent any of our facilities are unable to produce their contractual minimum volumes, and we are unable to supply coke from one of our other facilities, we are subject to market risk related to the procurement of replacement supplies.
−Removed: We are subject to market risk for the price of coals used to produce coke sold into the export coke market.
−Removed: Export coke sales are typically based on coke market pricing at the time of sale, rather than the pass-through provisions in our long-term, take-or-pay agreements.
+Added: We are subject to market risk for the price of coals used to produce non-contracted blast coke sold into both the export and North American domestic coke markets.
+Added: Non-contracted blast coke sales are typically based on coke market pricing at the time of sale, rather than the pass-through provisions in our long-term, take-or-pay agreements.
Generally over time, market prices for metallurgical coal and coke have been correlated.
−Removed: We monitor the market for our coal purchases versus pricing in the coke market to optimize profitability in our export business.
+Added: We monitor the market for our coal purchases versus pricing in the coke markets to optimize profitability in both the export and North American domestic coke markets.
However, we are exposed to market risk to the extent the coal and coke markets fall out of correlation.
−Removed: Additionally, the timing of contracting our coal purchases versus the timing of contracting our coke sales may cause favorable or unfavorable differences between the prices at which we procure our coals and the market rates at which we are able to sell our coke into the export market.
+Added: Additionally, the timing of contracting our coal purchases versus the timing of contracting our coke sales may cause favorable or unfavorable differences between the prices at which we procure our coals and the market rates at which we are able to sell our coke into both the export and North American domestic coke markets.
We are also subject to market risk for the price of coal as it relates to the foundry coke sales.
3 unchanged sentences
During the years ended December 31, 2023 and 2022, the daily average outstanding balance on borrowings with variable interest rates was $14.9 million and $105.8 million, respectively.
−Removed: Assuming a 50 basis point change in LIBOR, interest expense would have been impacted by $0.5 million in both 2022 and 2021, respectively.
−Removed: At December 31, 2022, we had outstanding borrowings with variable interest rates of $35.0 million under the Revolving Facility.
−Removed: Subsequent to December 31, 2022, we amended the Revolving Facility to transition from a variable interest rate based on LIBOR to a variable interest rate based on the secured overnight financing rate ("SOFR").
−Removed: The Company does not expect the transition from LIBOR to SOFR to have a material impact on its consolidated financial statements and disclosures.
−Removed: Refer to Note 11 to our consolidated financial statements for further detail.
+Added: Assuming a 50 basis point change in secured overnight financing rate (“SOFR”), interest expense would have been impacted by $0.1 million and $0.5 million in 2023 and 2022, respectively.
+Added: At December 31, 2023, we had no outstanding borrowings with variable interest rates under the Revolving Facility.
At December 31, 2023 and 2022, we had cash and cash equivalents of $140.1 million and $90.0 million, respectively, which accrue interest at various rates.
5 unchanged sentences
Balance sheet translation adjustments are excluded from the results of operations and are recorded in equity as a component of accumulated other compr ehensive loss.
−Removed: If the currency exchange rates had changed by 10 percent, we estimate the impact to our net income in 2022 and 2021 would have been approximately $0.4 million and $0.5 million.
+Added: If the currency exchange rates had changed by 10 percent, we estimate the impact to our net income in 2023 and 2022 would have been approximately $0.4 million in both periods.
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.