7 unchanged sentences
The Company manufactures its products primarily in the U.S., the U.K., France, the Netherlands, Canada, Brazil and Australia.
−Removed: The Company sells its products primarily within the markets where the products are
−Removed: produced, but some of the Company’s sales from its U.K.
+Added: The Company sells its products primarily within the markets where the products are produced, but some of the Company’s sales from its U.K.
and Canadian operations are denominated in other currencies.
6 unchanged sentences
are used to offset the earnings effects of such fluctuations.
−Removed: On December 31, 2023, the result of a uniform 10% strengthening in the value of the U.S.
+Added: On December 31, 2024, the result of a uniform 10%
+Added: strengthening in the value of the U.S.
dollar relative to the currencies in which the Company’s sales are denominated would have been a decrease in gross profit of $13.1 million.
3 unchanged sentences
The Company’s sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency prices.
−Removed: The translation adjustment during 2023 was a gain of $13.6 million.
+Added: The translation adjustment during 2024 was a loss of $29.0 million.
On December 31, 2024, the British pound closed at 0.7991 relative to the U.S.
5 unchanged sentences
The majority of the Company’s long-term debt bears interest at variable rates.
−Removed: Accordingly, the Company’s net income is affected by changes in interest rates.
+Added: However, as discussed below in Note 13.
+Added: Long-Term Debt, effective August 30, 2024, the Company put in place an interest rate swap that converted the variable interest rate on the Term Facility to a fixed rate of 3.7855% plus an interest margin percentage for the full amount of the outstanding long-term debt for three years.
+Added: Accordingly, the Company’s net income was affected by changes in interest rates for part of 2024.
Assuming the average level of borrowings at variable rates and a two hundred basis point change in the 2024 average interest rate under these borrowings, the Company’s 2024 interest expense would have changed by approximately $5.6 million.
6 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.