3 unchanged sentences
We are exposed to changes in short-term market interest rates and these changes in rates will impact our net interest expense.
−Removed: Our cash, cash equivalents and restricted cash generate interest income that will vary based on changes in short-term interest rates.
+Added: Certain cash, cash equivalents and restricted cash generate interest income that will vary based on changes in short-term interest rates.
In addition, we have swapped a portion of our fixed-rate debt to floating rate such that the interest expense on this debt will vary with short-term interest rates.
Refer to Note 1, Summary of Significant Accounting Policies , of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2025, for further information regarding our interest rate swaps.
−Removed: As of August 2, 2025, we had $1.7 billion of cash, cash equivalents and restricted cash and $0.5 billion of debt that has been swapped to floating rate, and therefore the net asset balance exposed to interest rate changes was $1.2 billion.
−Removed: As of August 2, 2025, a 50-basis point increase in short-term interest rates would have led to an estimated $6 million increase in interest income, and conversely a 50-basis point decrease in short-term interest rates would have led to an estimated $6 million decrease in interest income.
+Added: As of November 1, 2025, we had $1.2 billion of cash, cash equivalents and restricted cash and $0.5 billion of debt that has been swapped to floating rate, and therefore the net asset balance exposed to interest rate changes was $0.7 billion.
+Added: As of November 1, 2025, a 50-basis point increase in short-term interest rates would have led to an estimated $3 million increase in interest income during the third quarter ended November 1, 2025, and conversely a 50-basis point decrease in short-term interest rates would have led to an estimated $3 million decrease in interest income during the third quarter ended November 1, 2025.
Foreign Currency Exchange Rate Risk
4 unchanged sentences
Refer to Note 1, Summary of Significant Accounting Policies , of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2025, for additional information regarding these instruments.
−Removed: During the second quarter and first six months of fiscal 2026 , foreign currency exchange rate fluctuations were primarily driven by the strength of the U.S.
+Added: During the third quarter and first nine months of fiscal 2026, foreign currency exchange rate fluctuations were primarily driven by the strength of the U.S.
dollar against the Canadian dollar compared to the prior-year period.
−Removed: The estimated impact of foreign exchange rate fluctuations on our revenue was not significant in the second quarter of fiscal 2026 and had an unfavorable impact of $31 million in the first six months of fiscal 2026 .
−Removed: The estimated impacts of foreign exchange rate fluctuations on our net earnings in the second quarter and first six months of fiscal 2026 were not significant.
+Added: The estimated impact of foreign exchange rate fluctuations on our revenue had an unfavorable impact of $13 million and $44 million in the third quarter and first nine months of fiscal 2026, respectively.
+Added: The estimated impacts of foreign exchange rate fluctuations on our net earnings in the third quarter and first nine months of fiscal 2026 were not significant.
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.