8 unchanged sentences
Foreign Currency Exchange Rate Risk
−Removed: We conduct business in several foreign countries, including Mexico, Canada, and China.
+Added: In 2020, we conducted business in several foreign countries, including Mexico, Canada, and China.
To date, most foreign revenues are denominated in U.S.
3 unchanged sentences
Foreign currency translation gains and losses primarily relate to changes in the value of revenue equipment owned by a subsidiary in Mexico, whose functional currency is the Peso .
−Removed: Foreign currency translation gains were $2.0 million in 2019 and foreign currency translation losses were $0.5 million in 2018 and were recorded in accumulated other comprehensive loss within stockholders’ equity in the Consolidated Balance Sheets.
+Added: Foreign currency translation losses were $2.9 million in 2020 and foreign currency translation gains were $2.0 million in 2019 and were recorded in accumulated other comprehensive loss within stockholders’ equity in the Consolidated Balance Sheets.
The exchange rate between the Mexican Peso and the U.S.
5 unchanged sentences
Interest rates on the variable rate debt and our unused credit facilities are based on the LIBOR (see Contractual Obligations and Commercial Commitments).
−Removed: Assuming this level of borrowing, a hypothetical one-percentage point increase in the LIBOR interest rate would increase our annual interest expense by $1.5 million.
−Removed: Due to uncertainty surrounding the suitability and sustainability of the London Interbank Offered Rate (LIBOR), central banks and global regulators have called for financial market participants to prepare for the discontinuation of LIBOR by the end of 2021.
+Added: Assuming this level of borrowing, a hypothetical one-percentage point increase in the LIBOR interest rate would increase our annual interest expense by approximately $0.5 million.
+Added: Due to uncertainty surrounding the suitability and sustainability of the London Interbank Offered Rate (LIBOR), central banks and global regulators have called for financial market participants to prepare for the discontinuation of LIBOR.
+Added: On November 30, 2020, ICE Benchmark Administration announced its intention to consult on ceasing publication of one-week and two-month settings of the USD LIBOR benchmark at the end of December 2021, and ceasing publication of the remaining overnight and one-, three-, six- and 12-month USD LIBOR settings at the end of June 2023.
LIBOR is a widely-referenced benchmark rate, and our unsecured credit facilities are referenced to LIBOR.
1 unchanged sentence
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.