Quantitative and Qualitative Disclosures about Market Risk
−Removed: At May 8, 2021, we had no material change to our instruments and positions that is sensitive to market risk since the disclosures in our Annual Report on Form 10-K for the year ended August 29, 2020.
−Removed: The fair value of our debt was estimated at $4.758 billion as of May 8, 2021, and $6.081 billion as of August 29, 2020, based on the quoted market prices for the same or similar debt issues or on the current rates available to us for debt having the same remaining maturities.
−Removed: Such fair value was less than the carrying value of debt by $509.5 million and greater than the carrying value by $567.5 million at May 8, 2021 and August 29, 2020, respectively.
−Removed: We did not have any variable rate debt outstanding at May 8, 2021.
+Added: At November 20, 2021, the only material change to our instruments and positions that are sensitive to market risk since the disclosures in our Annual Report on Form 10-K for the year ended August 28, 2021 was our Revolving Credit Agreement, which was amended and restated on November 15, 2021, and increased our borrowing capacity from $2.0 billion to $2.25 billion.
+Added: The fair value of our debt was estimated at $5.6 billion as of November 20, 2021, and $5.7 billion as of August 28, 2021, based on the quoted market prices for the same or similar debt issues or on the current rates available to us for debt having the same remaining maturities.
+Added: Such fair value was greater than the carrying value of debt by $306.0 million and $413.1 million at November 20, 2021 and August 28, 2021, respectively.
+Added: We did not have any variable rate debt outstanding at November 20, 2021.
The carrying value of debt reflects its face amount adjusted for any unamortized debt issuance costs and discounts.
−Removed: We had outstanding fixed rate debt of $5.268 billion, net of unamortized debt issuance costs of $32.1 million at May 8, 2021 and $5.513 billion, net of unamortized debt issuance costs of $36.6 million at August 29, 2020.
−Removed: A one percentage point increase in interest rates would have increased the fair value of our fixed rate debt by $624.5 million at May 8, 2021.
+Added: We had outstanding fixed rate debt of $5.3 billion, net of unamortized debt issuance costs of $28.7 million at November 20, 2021 and $5.3 billion, net of unamortized debt issuance costs of $30.2 million at August 28, 2021.
+Added: A one percentage point increase in interest rates would have reduced the fair value of our fixed rate debt by $239.1 million at November 20, 2021.
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.