6 unchanged sentences
Floating rate debt, where the interest rate fluctuates periodically, exposes us to short-term changes in market interest rates.
−Removed: Fixed rate debt, where the interest rate is fixed over the life of the instrument, exposes us to changes in market interest rates reflected in the fair value of the debt and to the risk that we may need to refinance maturing debt with new debt at higher rates.
+Added: Fixed rate debt, where the interest rate is fixed over the life of the instrument, exposes us to changes in market interest rates reflected in the fair value of the debt and to the risk that we may need to refinance
+Added: maturing debt with new debt at higher rates.
We manage our debt portfolio to achieve an overall desired position of fixed and floating rates and may employ interest rate swaps as a tool to achieve that position.
−Removed: During fiscal year 2017, we entered into interest rate swap agreements to limit our exposure to variable interest rate terms on certain borrowings under our Initial Term Loan Facility.
+Added: We have entered into interest rate swap agreements to limit our exposure to variable interest rate terms on certain borrowings under our Initial Term Loan Facility.
The risks from interest rate swaps include changes in the interest rates affecting the fair value of such instruments, potential increases in interest expense due to market increases in floating interest rates and the creditworthiness of the counterparties.
−Removed: After considering interest rate swaps that fixed the interest rate on $550 million of the principal amounts of our Initial Term Loan Facility, approximately 57% of the principal amount of our debt bore interest at floating rates based on LIBOR or ABR, as of September 26, 2020.
+Added: After considering interest rate swaps that fixed the interest rate on $550 million of the principal amounts of our Initial Term Loan Facility, approximately 52% of the principal amount of our debt bore interest at floating rates based on LIBOR or ABR, as of April 3, 2021.
A hypothetical 1% change in the applicable rate would cause the interest expense on our floating rate debt to change by approximately $30 million per year (see Note 10, Debt, in our consolidated financial statements).
−Removed: As was announced in July 2017, the use of LIBOR is intended to be phased out by the end of 2021.
+Added: In July 2017, the United Kingdom's Financial Conduct Authority, which regulates LIBOR announced that it intends to phase out the use of LIBOR by the end of 2021.
+Added: On March 5, 2021, the ICE Benchmark Authority ("IBA"), the administrator of LIBOR, announced the cessation of the publication of the one week and two month U.S.
+Added: dollar LIBOR tenors immediately following their publication on December 31, 2021, and all other U.S.
+Added: dollar LIBOR tenors immediately following their publication on June 30, 2023.
We are unable to predict the impact of using alternative reference rates and corresponding rate risk as of this time.
3 unchanged sentences
Increases in the cost of diesel fuel can negatively affect consumer confidence and discretionary spending and increase the prices we pay for products, and the costs we incur to deliver products to our customers.
−Removed: Our activities to minimize fuel cost risk include route optimization, improving fleet utilization and using fuel surcharges.
+Added: Our activities to minimize fuel cost risk include route optimization, improving fleet utilization and assessing fuel surcharges.
We also enter into forward purchase commitments for a portion of our projected diesel fuel requirements.
−Removed: We had diesel fuel forward purchase commitments totaling $71 million through December 2021 as of September 26, 2020.
−Removed: These lock in approximately 64% of our projected diesel fuel purchase needs for the contracted periods.
+Added: As of April 3, 2021, we had diesel fuel forward purchase commitments totaling $38 million, which fix approximately 42% of our projected diesel fuel purchase needs through December 2021.
Our remaining fuel purchase needs will occur at market rates unless contracted for at a fixed price or hedged at a later date.
−Removed: Using current published market price projections for diesel and estimated fuel consumption needs, a hypothetical 10% unfavorable change in diesel prices from the market price could result in approximately $4 million in additional fuel cost on such uncommitted volumes through December 2021.
+Added: Using current published market price projections for diesel and estimated fuel consumption needs, a hypothetical 10% unfavorable change in diesel prices from the market price could result in approximately $6 million in additional fuel cost on uncommitted volumes through December 2021.
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.