7 unchanged sentences
We do not enter into any hedging activities to mitigate this foreign currency translation risk.
−Removed: The Company’s U.K.
subsidiary, whose functional currency is Pound Sterling, utilizes foreign currency forward contracts to limit our exposure to net asset balances held in non-functional currencies.
−Removed: We regularly monitor our foreign exchange exposures
−Removed: to ensure the overall effectiveness of our foreign currency hedge positions.
+Added: We regularly monitor our foreign exchange exposures to ensure the overall effectiveness of our foreign currency hedge positions.
While we engage in foreign currency hedging activity to reduce our risk, for accounting purposes, none of our foreign currency forward contracts are designated as hedges.
Commodity Price Risk
−Removed: Petroleum-based specialty chemicals and aerosol cans constitute a significant portion of the cost of many of our maintenance products.
−Removed: Volatility in the price of oil directly impacts the cost of petroleum-based specialty chemicals which are indexed to the price of crude oil.
+Added: Specialty chemicals and aerosol cans constitute a significant portion of the cost of many of our maintenance products.
+Added: Volatility in the price of oil directly impacts the cost of specialty chemicals which are indexed to the price of crude oil.
If there are significant increases in the costs of crude oil, our gross margins and operating results will be negatively impacted.
6 unchanged sentences
In addition, we had $68.4 million in fixed rate borrowings consisting of senior notes under our note purchase agreements as of August 31, 2022.
−Removed: On September 30, 2020, we entered into amendments to both the line of credit and note agreement and refinanced existing draws under our credit facility in the United States through the issuance of additional notes in the amount of $52.0 million.
−Removed: For additional details on our long-term borrowings as of August 31, 2021 and subsequent debt restructuring, refer to the information set forth in Part IV—Item 15, “Exhibits, Financial Statement Schedules” and Note 8 – Debt, respectively.
−Removed: Interest rates associated with this revolving credit facility are based on Prime and LIBOR rates.
−Removed: Any significant increase in the bank’s Prime rate and/or LIBOR rate could have a material effect on interest expense incurred on any borrowings outstanding under the credit facility.
−Removed: The U.K.’s Financial Conduct Authority has announced the LIBOR benchmark will be phased out by a target date of December, 31, 2021.
−Removed: Although we expect the contract on our revolving credit facility to be amended by this target date to include the incorporation of an alternative reference rate, we do not believe this anticipated event represents a material increase to our interest rate risk.
+Added: For additional details on our long-term borrowings as of August 31, 2022, refer to the information set forth in Part IV—Item 15, “Exhibits, Financial Statement Schedules” and Note 8 – Debt.
+Added: Interest rates associated with this revolving credit facility are based on the following rates:
+Added: Bloomberg Short-term Bank Yield Index rate (U.S.
+Added: Dollar borrowings)
+Added: Sterling Overnight Index Average Reference Rate (British Pound Sterling borrowings)
+Added: Euro Interbank Offered Rate (Euro borrowings)
+Added: Any significant increase in these rates could have a material effect on interest expense incurred on any borrowings outstanding under the credit facility.
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.