11 unchanged sentences
As of December 31, 2022, an immaterial amount of our total liabilities was denominated in currencies other than the functional currency.
−Removed: The 2018 Notes bear interest at a fixed rate and therefore have minimal exposure to changes in interest rates;
−Removed: however, because these interest rates are fixed, we may be paying a higher interest rate, relative to market, in the future if our credit rating improves or other circumstances change.
+Added: As of December 31, 2022, we have borrowed $25.0 million under the Loan Agreement.
+Added: The Loan Agreement bears interest at a floating rate equal to (a) the greater of (i) the one-month CME Secured Overnight Financing Rate and (ii) 0.13% plus (b) 7.37%, which is subject to an overall floor and cap.
+Added: Changes in interest rates can cause interest charges to fluctuate under the Loan Agreement.
+Added: A 10% increase in current interest rates would have resulted in an immaterial increase in the amount of cash interest expense for the year ended December 31, 2022 due to the overall interest rate floor and cap.
Consolidated Financial Statements and Supplementary Data
3 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.