5 unchanged sentences
We are primarily exposed to interest rate risk through our ABL Facility, which bears interest at variable rates.
−Removed: We had $1.9 billion in outstanding principal under the ABL Facility at September 30, 2022.
−Removed: An increase in interest rates by 100 basis points on our ABL Facility would increase our quarter to date interest expense by approximately $5.3 million based on current outstanding borrowings.
+Added: We had $1.8 billion in outstanding principal under the ABL Facility at March 31, 2023.
+Added: To manage interest rate risk, in January 2023, we executed interest rate swap agreements relating to an aggregate of $750.0 million in notional amount of variable-rate debt under our ABL Facility.
+Added: The swap agreements provide for us to pay a weighted average effective fixed interest rate of 3.44% per annum and receive a variable interest rate equal to one-month term SOFR, with maturity dates of June 30, 2027.
+Added: The swap agreements were designated and qualified as hedges of the Company's exposure to changes in interest payment cash flows created by fluctuations in variable interest rates on our ABL Facility.
+Added: An increase in interest rates by 100 basis points on our ABL Facility, inclusive of the impact of our interest rate swaps, would increase our quarter to date interest expense by approximately $10.8 million based on current outstanding borrowings.
Foreign Currency Risk
−Removed: We currently generate the majority of our consolidated net revenues in the US, and the reporting currency for our consolidated financial statements is the US dollar.
−Removed: However, we are exposed to currency risk principally through our operations in Canada, Mexico, and the United Kingdom.
+Added: We currently generate approximately 94% of our consolidated net revenues in the US, and the reporting currency for our consolidated financial statements is the US dollar.
+Added: However, we are exposed to currency risk through our operations in Canada and Mexico.
For the operations outside the US, we bill customers primarily in their local currency, which is subject to foreign currency rate changes.
3 unchanged sentences
These gains and losses are primarily driven by intercompany transactions and rental equipment purchases denominated in currencies other than the functional currency of the purchasing entity.
−Removed: These exposures are included in currency (gains) losses, net, on the condensed consolidated statements of operations.
+Added: These exposures are included in currency (gains) losses, net, on the consolidated statements of operations.
To date, we have not entered into any hedging arrangements with respect to foreign currency risk.
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.