11 unchanged sentences
Fixed-rate indebtedness:
−Removed: Kronos fixed-rate Senior Notes
+Added: Kronos fixed-rate 3.75% Senior Secured Notes due 2025
LandWell bank note payable
2 unchanged sentences
Valhi Contran credit facility
+Added: On February 12, 2024 KII exchanged €325 million principal amount of the outstanding 3.75% Senior Secured Notes due 2025 for newly issued €276.174 million aggregate outstanding KII 9.50% Senior Secured Notes due March 2029.
+Added: See Note 9 to our Consolidated Financial Statements.
Currency Exchange Rates – We are exposed to market risk arising from changes in currency exchange rates as a result of manufacturing and selling our products worldwide.
22 unchanged sentences
We are not party to any currency forward contracts at December 31, 2023.
−Removed: Also, we are subject to currency exchange rate risk associated with Kronos’ Senior Notes, as such indebtedness is denominated in euros.
−Removed: At December 31, 2022, we had the equivalent of $426.5 million outstanding under Kronos’ euro-denominated Senior Notes (exclusive of unamortized debt issuance costs.) The potential increase in the U.S.
−Removed: dollar equivalent of such indebtedness resulting from a hypothetical 10% adverse change in exchange rates at such date would be approximately $43 million.
+Added: Also, we are subject to currency exchange rate risk associated with Kronos’ Senior Secured Notes, as such indebtedness is denominated in euros.
+Added: At December 31, 2023, we had the equivalent of $442.5 million outstanding under Kronos’ euro-denominated 3.75% Senior Secured Notes due 2025 (exclusive of unamortized debt issuance costs).
+Added: The potential increase in the U.S.
+Added: dollar equivalent of such indebtedness resulting from a hypothetical 10% adverse change in exchange rates at December 31, 2023 would be approximately $44 million.
See Notes 1 and 19 to our Consolidated Financial Statements for a discussion of the assumptions we used to estimate the fair value of the financial instruments to which we are a party at December 31, 2022 and 2023.
3 unchanged sentences
Raw material pricing under these agreements is generally negotiated quarterly or semi-annually depending upon the suppliers.
−Removed: For certain raw material requirements we do not have long-term supply agreements either because we have assessed the risk of the unavailability of those raw materials and/or the risk of a significant change in the cost of those raw materials to be low, or because long-term supply agreements for those raw materials are generally not available.
+Added: For certain raw material requirements we do not have long-term supply agreements either because we have assessed the risk of the unavailability of those raw materials and/or
+Added: the risk of a significant change in the cost of those raw materials to be low, or because long-term supply agreements for those raw materials are generally not available.
Our Component Products Segment will occasionally enter into short term commodity-related raw material supply arrangements to mitigate the impact of future increases in commodity-related raw material costs.
13 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.