1 unchanged sentence
Our earnings, cash flows and financial position are exposed to market risks relating to fluctuations in interest rates and foreign currency exchange rates.
−Removed: All of the potential changes noted below are based on information available at July 1, 2022.
+Added: All of the potential changes noted below are based on information available at September 30, 2022.
Interest Rate Risk
−Removed: Each one percentage point change associated with the variable rate Amended Term Loan would result in a $0.5 million change in our related annual cash interest expenses.
+Added: Each one percentage point change associated with the variable rate Vertex First Lien Credit Agreement and Vertex Second Lien Credit Agreement would result in a $13.6 million change in our related annual cash interest expenses.
Assuming our Amended Revolver was fully drawn to a principal amount equal to $200.0 million, each one percentage point change in interest rates would result in a $2.0 million change in our annual cash interest expense.
1 unchanged sentence
On June 29, 2022, in conjunction with our planned extinguishment of the related hedged debt interest expense, we terminated our remaining interest rate swaps that were designated and qualified as effective cash flow hedges.
−Removed: Refer to Note 7.
−Removed: Derivative Instruments, in the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information regarding our derivative instruments.
+Added: For additional information regarding our derivative instruments, see Note 8, Derivative Instruments.
Foreign Currency Exchange Risk
4 unchanged sentences
The impact of the related contracts on our Condensed Consolidated Statements of Income and our Condensed Consolidated Balance Sheets was immaterial and related hedging was discontinued.
−Removed: Our last forward contracts expired in January 2021 and no such contracts are outstanding as of July 1, 2022.
+Added: Our last forward contracts expired in January 2021 and no such contracts are outstanding as of September 30, 2022.
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.