16 unchanged sentences
are used to offset the earnings effects of such fluctuations.
−Removed: On December 31, 2024, the result of a uniform 10%
−Removed: strengthening in the value of the U.S.
−Removed: 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.
+Added: On December 31, 2025, the result of a uniform 10% strengthening in the value of the U.S.
+Added: dollar relative to the currencies in which the Company’s sales are
+Added: denominated would have been a decrease in gross profit of $12.5 million.
Comparatively, on December 31, 2024, the result of a uniform 10% strengthening in the value of the dollar relative to the currencies in which the Company’s sales are denominated would have been a decrease in gross profit of approximately $13.1 million.
2 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 2024 was a loss of $29.0 million.
+Added: The translation adjustment during 2025 was an unrealized gain of $34.4 million.
On December 31, 2025, the British pound closed at 0.7421 relative to the U.S.
6 unchanged sentences
However, as discussed below in Note 13.
−Removed: 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: Long-Term Debt, effective August 30, 2024, the Company put in place an interest rate swap that economically 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.
Accordingly, the Company’s net income was affected by changes in interest rates for part of 2024.
7 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.