2 unchanged sentences
The Company maintains its cash equivalents in financial instruments, primarily time deposits and money market funds, with original maturities of three months or less.
+Added: Recently the Company invested in short-term marketable securities with maturities less than twelve months.
Due to the short-term nature of these instruments, changes in interest rates are not expected to materially affect the fair value of these financial instruments.
3 unchanged sentences
The Rabbi Trust assets primarily consist of trust-owned life insurance policies, which are recorded at cash surrender value.
−Removed: The change in cash surrender value resulted in realized gains of $0.3 million and $0.3 million for the thirteen weeks ended May 4, 2024 and April 29, 2023, respectively.
+Added: The change in cash surrender value resulted in realized gains of $0.3 million and $0.9 million for the thirteen weeks ended August 3, 2024 and July 29, 2023, respectively and $0.7 million and $1.3 million for the twenty-six weeks ended August 3, 2024 and July 29, 2023, respectively.
The realized gains were recorded in interest (income) expense, net on the Condensed Consolidated Statements of Operations and Comprehensive Income.
−Removed: The Rabbi Trust assets were included in other assets on the Condensed Consolidated Balance Sheets as of May 4, 2024 and February 3, 2024 and are restricted in their use as noted above.
+Added: The Rabbi Trust assets were included in other assets on the Condensed Consolidated Balance Sheets as of August 3, 2024 and February 3, 2024 and are restricted in their use as noted above.
INTEREST RATE RISK
20 unchanged sentences
Foreign currency exchange forward contracts are sensitive to changes in foreign currency exchange rates.
−Removed: As of May 4, 2024, the Company assessed the risk of loss in fair values from the effect of a hypothetical 10% devaluation of the U.S.
+Added: As of August 3, 2024, the Company assessed the risk of loss in fair values from the effect of a hypothetical 10% devaluation of the U.S.
dollar against the exchange rates for foreign currencies under contract.
1 unchanged sentence
As the Company’s foreign currency exchange forward contracts are primarily designated as cash flow hedges of forecasted transactions, the hypothetical change in fair values would be expected to be largely offset by the net change in fair values of the underlying hedged items.
−Removed: Refer to Note 12, “ DERIVATIVE INSTRUMENTS ,” for the fair value of any outstanding foreign currency exchange forward contracts included in other current assets and accrued expenses as of May 4, 2024 and February 3, 2024.
+Added: Refer to Note 12, “ DERIVATIVE INSTRUMENTS ,” for the fair value of any outstanding foreign currency exchange forward contracts included in other current assets and accrued expenses as of August 3, 2024 and February 3, 2024.
Abercrombie & Fitch Co.
1 unchanged sentence
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.