13 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 $1.9 million for second quarter 2021 and $0.9 million for second quarter 2020.
−Removed: These were recorded in accumulated other comprehensive income (loss) within stockholders’ equity in the Consolidated Balance Sheets.
+Added: Foreign currency translation losses were $1.1 million for third quarter 2021 and gains were $0.8 million for third quarter 2020.
+Added: These were recorded in accumulated other comprehensive loss within stockholders’ equity in the consolidated condensed balance sheets.
Interest Rate Risk
We manage interest rate exposure through a mix of variable rate debt and interest rate swap agreements.
−Removed: We had $150 million of debt outstanding at June 30, 2021, for which the interest rate is effectively fixed at 2.34% through May 2024 with two interest rate swap agreements to reduce our exposure to interest rate increases, and we had $100 million of debt outstanding at June 30, 2021 at a fixed rate of 1.28%.
−Removed: We had $50 million of variable rate debt outstanding at June 30, 2021.
+Added: We had $150 million of debt outstanding at September 30, 2021, for which the interest rate is effectively fixed at 2.34% through May 2024 with two interest rate swap agreements to reduce our exposure to interest rate increases, and we had $100 million of debt outstanding at September 30, 2021 at a fixed rate of 1.28%.
+Added: We had $100 million of variable rate debt outstanding at September 30, 2021.
Interest rates on the variable rate debt and our unused credit facilities are based on the LIBOR.
−Removed: Assuming this level of borrowing, a hypothetical one-percentage point increase in the LIBOR interest rate would increase our annual interest expense by approximately $500,000.
+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 $1.0 million.
Due to uncertainty surrounding the suitability and sustainability of LIBOR, central banks and global regulators have called for financial market participants to prepare for the discontinuation of LIBOR.
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.