8 unchanged sentences
As of September 30, 2023, the Company had no outstanding hedge contracts.
−Removed: The fair value of foreign exchange contracts is subject to changes in foreign currency exchange rates.
−Removed: For the purpose of assessing the specific risks, we use a sensitivity analysis to determine the effects that market risk exposures may have on the fair value of our financial instruments.
−Removed: For foreign exchange forward contracts, we typically perform a sensitivity analysis assuming a hypothetical 10% depreciation of the U.S.
−Removed: dollar against foreign currencies from prevailing foreign currency exchange rates and assuming no change in interest rates.
−Removed: As we have no hedge contracts outstanding as of September 30, 2022, the fair value of the foreign exchange forward contracts would have no impact.
−Removed: Hypothetically, even if there was a decrease in the fair value of the forward contracts, because our foreign exchange contracts are entered into for hedging purposes, these losses would be largely offset by gains on the underlying transactions.
Interest Rate Risk
2 unchanged sentences
At September 30, 2023, 67% of the Company’s debt was at a fixed rate.
−Removed: In addition, as of September 30, 2022, we have the option under all of our floating rate debt under the Senior Term Loan Facility to select a one, two, three or six month LIBOR rate.
+Added: In addition, as of September 30, 2023, we have the option under all of our floating rate debt under the Senior Term Loan Facility to select a one, two, three or six month SOFR rate.
To manage interest rate risk on $1,313 million of U.S.
−Removed: dollar-denominated variable-rate debt, the Company has entered into interest rate swaps to effectively convert the floating interest rates to a fixed interest rate on a portion of its variable-rate debt.
+Added: dollar-denominated variable-rate debt, the Company has entered into an interest rate swap to effectively convert the floating interest rate to a fixed interest rate on a portion of its variable-rate debt.
As a result, as of September 30, 2023, 80% of the Company’s debt was effectively at a fixed rate.
8 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.