6 unchanged sentences
The Company is exposed to market risk through changes in variable interest rates incurred on borrowings under the Company’s credit agreements, consisting of the $995.0 million 2025 Term Loan and any borrowings outstanding under the senior secured revolving credit facilities.
−Removed: As of March 31, 2026 there were no borrowings outstanding under the senior secured revolving credit facilities.
+Added: As of June 30, 2026 there were no borrowings outstanding under the senior secured revolving credit facilities.
The Company enters into interest rate swap agreements to mitigate its exposure to the variability in cash flows on a portion of its floating-rate debt obligations.
2 unchanged sentences
Management periodically reviews the Company’s exposure to interest rate fluctuations and implements strategies to manage the exposure.
−Removed: As of March 31, 2026 , the Company is party to four pay fixed, receive variable interest rate swap agreements with an aggregate notional value of $650.0 million.
+Added: As of June 30, 2026 , the Company is party to four pay fixed, receive variable interest rate swap agreements with an aggregate notional value of $650.0 million.
The interest rate swaps are scheduled to mature on October 31, 2028, October 31, 2029, and October 31, 2030.
−Removed: As of March 31, 2026, the weighted average fixed rate paid on the interest rate swaps was 3.618% and the weighted average variable rate received was 3.668%.
+Added: As of June 30, 2026, the weighted average fixed rate paid on the interest rate swaps was 3.618% and the weighted average variable rate received was 3.644%.
The interest rate swaps have been designated as cash flow hedges of the interest rate risk inherent in floating rate borrowings outstanding due to changes in the benchmark interest rate, and accordingly, the hedging relationship is expected to be highly effective in mitigating cash flow risks resulting from changes in interest rates.
−Removed: As of March 31, 2026, the unhedged portion of our variable rate debt was $347.5 million.
+Added: As of June 30, 2026, the unhedged portion of our variable rate debt was $345.0 million.
For variable rate debt instruments, market risk is defined as the potential change in earnings resulting from a hypothetical adverse change in interest rates.
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.