5 unchanged sentences
We are primarily exposed to interest rate risk through our ABL Facility, which bears interest at variable rates.
−Removed: We had $1.6 billion in outstanding principal under the ABL Facility at June 30, 2025.
+Added: We had $1.5 billion in outstanding principal under the ABL Facility at September 30, 2025.
To manage interest rate risk, in January 2024 and January 2023, respectively, we executed interest rate swap agreements relating to an aggregate of $500.0 million and $750.0 million in notional amount of variable-rate debt under our ABL Facility.
The January 2024 and January 2023 swap agreements provide for us to pay effective fixed interest rates of 3.70% and 3.44% per annum, respectively, and receive a variable interest rate equal to one-month term SOFR, with maturity dates of June 30, 2027.
−Removed: After taking into account the impact of the swaps, an increase in interest rates by 100 basis points on our ABL Facility would have increased quarter to date interest expense by approximately $0.8 million based on outstanding borrowings at June 30, 2025.
+Added: After taking into account the impact of the swaps, an increase in interest rates by 100 basis points on our ABL Facility would have increased quarter to date interest expense by approximately $0.6 million based on outstanding borrowings at September 30, 2025.
Foreign Currency Risk
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.