1 unchanged sentence
The principal market risks affecting us are exposures to price fluctuations of commodity and energy inputs, interest rates, and foreign currencies.
−Removed: Other than the changes noted below, there have been no material changes in our market risk during the thirty-nine weeks ended February 22, 2026.
+Added: Other than the changes noted below, there have been no material changes in our market risk during the thirteen weeks ended August 30, 2026.
For additional information, refer to the “Quantitative and Qualitative Disclosures About Market Risk” section in Part II, Item 7A of our Annual Report on Form 10-K for the fiscal year ended May 31, 2026.
8 unchanged sentences
We may use interest rate swaps to manage the effect of interest rate changes on the fair value of our existing debt as well as the forecasted interest payments for the anticipated issuance of debt.
−Removed: The carrying amount of long-term debt (including current installments) was $7.23 billion as of February 22, 2026.
−Removed: Based on current market rates, the fair value of this debt at February 22, 2026 was estimated at $7.16 billion.
−Removed: As of February 22, 2026, a 1% increase in the interest rates would decrease the fair value of our fixed rate debt by approximately $337.2 million, while a 1% decrease in interest rates would increase the fair value of our fixed rate debt by approximately $376.8 million.
+Added: The carrying amount of long-term debt (including current installments) was $7.73 billion as of August 30, 2026.
+Added: Based on current market rates, the fair value of this debt at August 30, 2026 was estimated at $7.48 billion.
+Added: As of August 30, 2026, a 1% increase in the interest rates would decrease the fair value of our fixed rate debt by approximately $318.0 million, while a 1% decrease in interest rates would increase the fair value of our fixed rate debt by approximately $353.8 million.
Foreign Currency Risk
4 unchanged sentences
Fair Value Impact
−Removed: February 22, 2026
−Removed: February 23, 2025
+Added: August 30, 2026
+Added: August 24, 2025
Energy commodities
4 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.