1 unchanged sentence
Commodity Price Risk
−Removed: We are exposed to significant market risk due to potential changes in prices for fertilizer products and natural gas.
+Added: We are exposed to significant market risk due to potential changes in prices for fertilizer products, pet coke, and natural gas.
Natural gas is the primary raw material used in the production of various nitrogen-based products manufactured at our East Dubuque Facility.
2 unchanged sentences
The value of fertilizer product inventory is subject to market risk due to fluctuations in the relevant commodity prices.
−Removed: Prices of nitrogen fertilizer products can be volatile.
−Removed: We believe that market prices of nitrogen products are affected by changes in grain prices, demand, natural gas prices, and other factors.
−Removed: In the opinion of our management, there is no derivative financial instrument that correlates effectively with, and has a trading volume sufficient to hedge, our firm commitments and forecasted commodity sales transactions.
+Added: Prices of nitrogen fertilizer products can be volatile, and we believe they are affected by changes in grain prices, demand, natural gas prices, and other factors.
+Added: In the opinion of our management, there are no financial instruments that correlate with our firm commitments and forecasted commodity sales transactions and could be used to effectively reduce commodity price risk.
December 31, 2023 | 51
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.