14 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 $2.4 million for the year ended December 31, 2022 and foreign currency translation losses were $1.4 million for the year ended December 31, 2021, and were recorded in accumulated other comprehensive loss within stockholders’ equity in the consolidated balance sheets.
+Added: Foreign currency translation gains were $6.1 million and $2.4 million for the year ended December 31, 2023 and 2022, respectively, 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.
2 unchanged sentences
We manage interest rate exposure through a mix of variable interest rate debt and interest rate swap agreements.
−Removed: We had $150.0 million of variable interest rate debt outstanding at December 31, 2022, for which the interest rate is effectively fixed at 2.78% through May 2024 with two interest rate swap agreements to reduce our exposure to interest rate increases.
+Added: We had $280.0 million of variable interest rate debt outstanding at December 31, 2023, for which the interest rate is effectively fixed at 4.31% with interest rate swap agreements to reduce our exposure to interest rate increases.
In addition, we had $280.0 million of variable interest rate debt outstanding at December 31, 2023.
−Removed: The interest rates on our unused credit facility are based on Secured Overnight Financing Rate (“SOFR”).
+Added: The interest rates on our credit facility are based on Secured Overnight Financing Rate (“SOFR”).
See Note 8 in the Notes to Consolidated Financial Statements under Item 8 of Part II of this Form 10-K for further detail of our debt.
−Removed: Assuming this level of borrowing, a hypothetical one-percentage point increase in the SOFR interest rate would increase our annual interest expense by approximately $4.5 million.
+Added: Assuming this level of borrowing, a hypothetical one-percentage point increase in the SOFR interest rate would increase our interest expense by approximately $4.3 million for the next 12-month period.
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.