9 unchanged sentences
Applied does not currently hedge the net investments in our foreign operations.
−Removed: During the course of the fiscal year, the Canadian, Mexican, Australian and New Zealand currency exchange rates increased in relation to the U.S.
+Added: During the course of the fiscal year, the Canadian, Mexican, Australian and New Zealand currency exchange rates decreased in relation to the U.S.
dollar by 3.9%, 1.6%, 8.5% and 11.1%, respectively.
−Removed: In the twelve months ended June 30, 2021, we experienced net foreign currency translation gains totaling $24.4 million, which were included in other comprehensive income.
+Added: In the twelve months ended June 30, 2022, we experienced net foreign currency translation losses totaling $9.9 million, which were included in other comprehensive income.
We utilize a sensitivity analysis to measure the potential impact on earnings based on a hypothetical 10% change in foreign currency rates.
4 unchanged sentences
The levels of fees and interest charged on our various debt facilities are based upon leverage levels and market interest rates.
−Removed: The Company uses interest rate swap instruments to mitigate variability in forcasted interest rates.
−Removed: Our variable interest rate debt facilities outstanding include our five-year credit facility, which provides for a revolving credit facility with a capacity of up to $250.0 million in borrowings with no balance outstanding at June 30, 2021, a $780.0 million term loan, of which $550.3 million was outstanding at June 30, 2021, and a $188.3 million trade receivable securitization facility, all of which was outstanding at June 30, 2021.
+Added: The Company uses interest rate swap instruments to mitigate variability in forecasted interest rates.
+Added: Our variable interest rate debt facilities outstanding include our five-year credit facility, which provides for a revolving credit facility with a capacity of up to $900.0 million in borrowings with $410.6 million outstanding at June 30, 2022, and a $188.3 million trade receivable securitization facility, all of which was outstanding at June 30, 2022.
In January 2019, the Company entered into an interest rate swap on $463.0 million of the Company’s U.S.
5 unchanged sentences
We had total average variable interest rate bank borrowings of $670.6 million during fiscal 2022.
−Removed: The impact of a hypothetical 1.0% increase in the interest rates on our average variable interest rate bank borrowings (not considering the impact of our interest rate swap) would have resulted in a $7.4 million increase in interest expense.
−Removed: Due to the interest rate swap, the impact of a hypothetical 1.0% increase in the variable interest rate would have reduced net cash interest paid by $4.2 million.
−Removed: Changes in market interest rates would also impact interest rates on these facilities.
+Added: The impact of a hypothetical 1.0% increase in the interest rates on our average variable interest rate bank borrowings (not considering the impact of the interest rate swap) would have resulted in a $6.7 million increase in interest expense.
+Added: Including the impact of the interest rate swap, the impact of a hypothetical 1.0% increase in the variable interest rate would have resulted in a $2.6 million increase in interest expense.
For more information relating to borrowing and interest rates, see the “Liquidity and Capital Resources” section of “Management's Discussion and Analysis of Financial Condition and Results of Operations ” in Item 7 and notes 6 and 7 to the consolidated financial statements in Item 8.
2 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.