18 unchanged sentences
The 4th quarter 2019 average rate of $0.51 per pound is shown on a pro forma basis as if the non-market adjustment was made in the fourth quarter of 2019.
+Added: In January 2023, IHS reflected a 41 cents per pound non-market adjustment based on their estimate of the growth of discounts in the prior periods.
+Added: The 4th quarter 2022 average rate of $0.60 per pound is shown on a pro forma basis as if the non-market adjustment was made in the fourth quarter of 2022.
The price of resin is driven by several factors, including supply and demand and the price of oil, ethylene and natural gas.
5 unchanged sentences
Polyester resins, MEG and PTA used in flexible packaging films produced in Brazil are primarily purchased domestically, with other sources available mostly from Asia and the U.S.
−Removed: Given the nature of these products as commodities, pricing is derived from Asian pricing indexes.
−Removed: The volatility of the average quarterly prices for polyester fibers in Asia, which is
−Removed: representative of polyester resin (a primary raw material for Flexible Packaging Films) pricing trends, is shown in the chart below:
+Added: Given the nature of these products as commodities, pricing is
+Added: derived from Asian pricing indexes.
+Added: The volatility of the average quarterly prices for polyester fibers in Asia, which is representative of polyester resin (a primary raw material for Flexible Packaging Films) pricing trends, is shown in the chart below:
Quarterly averages computed by Tredegar using monthly data from CMAI Global Index data.
4 unchanged sentences
are generally denominated in U.S.
−Removed: The Company’s foreign currency exposure on income from continuing foreign operations relates to the Chinese Yuan and the Brazilian Real.
+Added: The Company’s foreign currency exposure on income from foreign operations relates to the Chinese Yuan and the Brazilian Real.
PE Films is generally able to match the currency of its sales and costs for its product lines.
1 unchanged sentence
Dollars and are impacted by local economic conditions and local and global competitive dynamics.
−Removed: Flexible Packaging Films is exposed to foreign exchange translation risk (its functional currency is the Brazilian Real) because almost 90% of the sales of Flexible Packaging Films business unit in Brazil (“Terphane Ltda.”) and substantially all of its related raw material costs are quoted or priced in U.S.
−Removed: Dollars while its variable conversion, fixed conversion and sales, general and administrative costs before depreciation &
−Removed: amortization (collectively “Terphane Ltda.
+Added: Flexible Packaging Films is exposed to foreign exchange translation risk (its functional currency is the Brazilian Real) because almost 90% of the sales of Flexible Packaging Films business unit in Brazil (“Terphane Ltda.”) and substantially all of its related raw material costs are quoted or priced in
+Added: Dollars while its variable conversion, fixed conversion and sales, general and administrative costs before depreciation & amortization (collectively “Terphane Ltda.
Operating Costs”) are quoted or priced in Brazilian Real.
8 unchanged sentences
Tredegar estimates that the change in the value of foreign currencies relative to the U.S.
−Removed: Dollar for PE Films had a favorable impact on EBITDA from ongoing operations of $0.5 million in the third quarter of 2022 and $1.1 million in the first nine months of 2022 compared with the same periods of 2021.
+Added: Dollar for PE Films had a unfavorable impact on EBITDA from ongoing operations of $0.1 million in the first quarter of 2023 compared with the same period of 2022.
Trends for the Brazilian Real and Chinese Yuan exchange rates relative to the U.S.
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.