8 unchanged sentences
Dollar strengthens, our sales and gross profit will be negatively impacted.
−Removed: In addition, we have assets and liabilities denominated in non-functional currencies which are remeasured at each reporting period, with the offset to changes presented as a component of Other (Expenses) Income.
−Removed: Significant non-functional balances include accounts receivable due from a sub-section of our international customers.
+Added: In addition, we have assets and liabilities denominated in non-functional currencies which are remeasured at each reporting period, with the offset to changes presented as a component of Other (Expense) Income.
+Added: Significant non-functional balances include accounts receivable due from some of our international customers.
INTEREST RATE RISK
On June 3, 2019, we entered into the Credit Agreement which provides for a $125.0 million Revolving Facility.
−Removed: Interest on the facility will be based, at the Company’s option, on a base rate of LIBOR plus an applicable margin tied to the Company’s total leverage ratio and having ranges between 0.25% and 0.75% for base rate loans and between 1.25% and 1.75% for LIBOR loans.
+Added: Interest on the facility will be based, at the Company’s option, on either a base rate of LIBOR or alternate base rate, plus an applicable margin tied to the Company’s total leverage ratio and having ranges between 0.25% and 0.75% for base rate loans and between 1.25% and 1.75% for LIBOR loans.
In the event of default, the interest rate may be increased by 2.0%.
As of May 31, 2021, there was $20.0 million outstanding on the Revolving Facility.
+Added: The interest rate on the Revolving Facility at May 31, 2021 was 1.36%.
CONCENTRATION OF CREDIT RISK
5 unchanged sentences
No single customer represents more than 10% of total sales.
−Removed: The Company monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business.
+Added: The Company monitors the creditworthiness of its customers.
+Added: As the Company’s standard payment terms are 30 to 90 days from invoicing, the Company does not provide any significant financing to its customers.
Although the Company does not currently foresee a significant credit risk associated with the outstanding accounts receivable, repayment is dependent upon the financial stability of our customers.
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.