8 unchanged sentences
Some of our floating rate credit facilities contain minimum rates of interest to be charged.
−Removed: Based upon our interest-bearing balances and interest rates as of April 30, 2022, holding other variables constant, a one percentage point increase in interest rates for the next 12-month period would decrease pre-tax earnings and cash flow by approximately $0.3 million.
+Added: Based upon our interest-bearing balances and interest rates as of July 31, 2022, holding other variables constant, a one percentage point increase in interest rates for the next 12-month period would decrease pre-tax earnings and cash flow by approximately $0.6 million.
Conversely, a one percentage point decrease in interest rates for the next 12-month period would result in an increase to pre-tax earnings and cash flow of approximately $0.6 million.
−Removed: At April 30, 2022, we had floorplan payables of $188.9 million, of which approximately $29.4 million was variable-rate floorplan payable and $159.5 million was non-interest bearing.
−Removed: In addition, at April 30, 2022, we had total long-term debt, including finance lease obligations, of $96.6 million, of which all was fixed rate debt.
+Added: At July 31, 2022, we had floorplan payables of $274.2 million, of which approximately $63.5 million was variable-rate floorplan payable and $210.7 million was non-interest bearing.
+Added: In addition, at July 31, 2022, we had total long-term debt, including finance lease obligations, of $94.8 million, all of which was fixed rate debt.
Foreign Currency Exchange Rate Risk
3 unchanged sentences
The Company attempts to manage its transactional foreign currency exchange rate risk through the use of derivative financial instruments, primarily foreign exchange forward contracts, or through natural hedging instruments.
−Removed: Based upon balances and exchange rates as of April 30, 2022, holding other variables constant, we believe that a hypothetical 10% increase or decrease in all applicable foreign exchange rates would not have a material impact on our results of operations or cash flows.
−Removed: As of April 30, 2022, our Ukrainian subsidiary had $0.7 million of net monetary assets denominated in Ukrainian hryvnia ("UAH").
+Added: Based upon balances and exchange rates as of July 31, 2022, holding other variables constant, we believe that a hypothetical 10% increase or decrease in all applicable foreign exchange rates would not have a material impact on our results of operations or cash flows.
+Added: As of July 31, 2022, our Ukrainian subsidiary had $0.3 million of net monetary assets denominated in Ukrainian hryvnia ("UAH").
We have attempted to minimize our net monetary asset position in Ukraine through reducing overall asset levels in Ukraine and at times through borrowing in UAH which serves as a natural hedging instrument offsetting our net UAH denominated assets.
−Removed: In February 2022, the National Bank of Ukraine imposed certain currency and payment controls.
−Removed: While this has made it more difficult to manage our UAH exposure, the agriculture industry is classified as a critical industry allowing the conversion of UAH for certain parts and equipment invoices.
−Removed: The continuation of political tensions in the Russia/Ukraine conflict could lead to more significant UAH devaluations.
−Removed: The inability to fully manage our net monetary asset position and continued UAH devaluations for an extended period of time, could have a significant impact on our results of operations and cash flows.
+Added: Many of the currency and payment controls the National Bank of Ukraine imposed in February 2022, have been relaxed, making it more practicable to manage our UAH exposure.
+Added: However, the continuation of the Russia/Ukraine conflict could lead to more significant UAH devaluations, similar to the 24% devaluation that occurred in July 2022, or more stringent payment controls in the future.
+Added: The inability to fully manage our net monetary asset position and continued UAH devaluations for an extended period of time, could have a significant adverse impact on our results of operations and cash flows.
In addition to transactional foreign currency exchange rate risk, we are also exposed to translational foreign currency exchange rate risk as we translate the results of operations and assets and liabilities of our foreign operations from their functional currency 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.