3 unchanged sentences
Accordingly, we have exposure to potentially adverse movements in the euro exchange rate.
−Removed: In addition, RTI provides a contractual hedge against catastrophic currency fluctuation in our agreement.
−Removed: We do not use derivative financial instruments for speculative trading purposes, nor do we hedge our foreign currency exposure in a manner that offsets the effects of changes in foreign exchange rates.
+Added: In addition, RTI provides a contractual
+Added: hedge against catastrophic currency fluctuation in our agreement.
+Added: We do not use derivative financial instruments for speculative trading purposes, nor do we hedge our foreign currency exposure in a manner that offsets the effects of changes in
+Added: foreign exchange rates.
We regularly review our foreign currency risk and hedging programs and may as part of that review determine at any time to change our hedging policy.
−Removed: During 2020 , we executed various forward contracts for the purchase of €19.7 million and sale of €21.4 million with maturity dates ranging from December 2020 to November 2021.
−Removed: At December 31, 2020, we had forward contracts for the purchase of €18.0 million and sale of €19.6 million.
+Added: During 2021, we executed no
+Added: forward contracts for the purchase of euros.
+Added: At December 31, 2021, we had no forward contracts for the purchase of euros.
A 10% change in the euro to U.S.
−Removed: dollars exchange rate would change pre-tax income by approximately $0.9 million per year.
+Added: dollars exchange rate would change pre-tax
+Added: income by approximately $1.7 million per year.
At December 31, 2021 and 2020, we had bank deposits, including MSA escrows, in excess of federally insured limits of approximately $137.2 million and $69.7 million, respectively.
−Removed: The Company has chosen to invest a portion of the MSA escrows, from time to time, in U.S.
+Added: has chosen to invest a portion of the MSA escrows, from time to time, in U.S.
Government securities including Treasury Notes and Treasury Bonds.
2 unchanged sentences
In 2021, 2020, and 2019, we had no customers that accounted for more than 10% of our net sales.
−Removed: We perform periodic credit evaluations of our customers and generally do not require collateral on trade receivables.
+Added: We perform periodic credit
+Added: evaluations of our customers and generally do not require collateral on trade receivables.
Historically, we have not experienced significant losses due to customer credit issues.
Interest Rate Sensitivity
−Removed: We have exposure to interest rate volatility principally relating to interest rate changes applicable to loans under our 2018 Credit Facility.
−Removed: As of December 31, 2020, our 2018 Credit Facility bears interest at variable rates.
−Removed: However, the Company had swap contracts for a total notional amount of $70 million at December 31, 2020.
−Removed: The fair values of the swap contracts are based upon quoted market prices and resulted in a liability of $3.7 million as of December 31, 2020.
−Removed: We believe that the effect, if any, of reasonably possible near-term changes in interest rates on our consolidated financial position, results of operations or cash flows would not be significant.
−Removed: A 1% change in the interest rate would change pre-tax income by approximately $0.6 million per year.
+Added: In February 2021, we issued the Senior Secured Notes in an aggregate principal amount of $250 million.
+Added: In July 2019, we issued Convertible Senior Notes in an aggregate principal amount of
+Added: $172.5 million.
+Added: We carry the Senior Secured Notes and Convertible Senior Notes at face value.
+Added: Since the Senior Secured Notes and Convertible Senior Notes bear interest at a fixed rate, we have no financial statement risk associated with changes
+Added: in interest rates.
+Added: However, the fair value of the Convertible Senior Notes changes when the market price of our stock fluctuates, or interest rates change.
+Added: Our remaining debt instruments bear interest at fixed rates and are not subject to
+Added: interest rate volatility.
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.