13 unchanged sentences
We continue to evaluate the possibility of entering into similar arrangements for other commodities and periodically evaluate hedging vehicles, such as direct financial instruments, to assist us in managing risk and variability associated with such commodities.
−Removed: As of September 30, 2025, we had no hedging contracts in place.
+Added: As of March 31, 2026, we had no hedging contracts in place.
Commodities for which we have not entered into contracts can be subject to unforeseen supply and cost fluctuations, which at times may be significant.
−Removed: Additionally, the cost of commodities subject to governmental regulation, such as dairy and corn, can be especially susceptible to price fluctuation.
+Added: Additionally, the cost of commodities subject to governmental regulation, such as dairy and corn, can be
+Added: especially susceptible to price fluctuation.
Goods we purchase on the international market may be subject to even greater fluctuations in cost and availability, which could result from a variety of factors, including the value of the U.S.
1 unchanged sentence
We may not have the ability to increase menu prices or vary menu items in response to food commodity price increases.
−Removed: For both the third quarter of fiscal 2025 and 2024, a hypothetical increase of 1% in food costs would have negatively impacted cost of sales by $2.0 million.
+Added: For the first quarter of fiscal 2026 and 2025, a hypothetical increase of 1% in food costs would have negatively impacted cost of sales by $2.1 million and $2.0 million, respectively.
We are exposed to market risk from interest rate changes on our funded debt.
This exposure relates to the component of the interest rate on our Loan Agreement that is indexed to market rates.
−Removed: As of September 30, 2025, we had no outstanding borrowings under the Loan Agreement.
−Removed: Based on outstanding borrowings at December 31, 2024, a hypothetical 1% rise in interest rates would have increased interest expense by $1.1 million, on an annual basis.
+Added: As of March 31, 2026 and December 30, 2025, we had no outstanding borrowings under the Loan Agreement.
(See Note 5 of Notes to Condensed Consolidated Financial Statements in Part I, Item 1 of this report for further discussion of our debt.)
−Removed: We are also subject to market risk related to our investments in variable life insurance contracts used to support our non-qualified plans to the extent these investments are not equivalent to the related liability.
+Added: We are also subject to market risk related to our investments in variable life insurance contracts used to support our non-qualified deferred compensation plans to the extent these investments are not equivalent to the related liability.
In addition, because changes in these investments are not taxable, gains and losses result in tax benefit and tax expense, respectively, and directly affect net income through the income tax provision.
−Removed: Based on balances at September 30, 2025 and December 31, 2024, a hypothetical 10% decline in the market value of our deferred compensation asset and related liability would not have impacted income before income taxes.
−Removed: However, under such a scenario, net income would have declined by $3.2 million and $2.9 million at September 30, 2025 and December 31, 2024, respectively.
+Added: Based on balances at March 31, 2026 and December 30, 2025, a hypothetical 10% decline in the market value of our deferred compensation asset and related liability would not have impacted income before income taxes.
+Added: However, under such a scenario, net income would have declined by $3.3 million and $3.2 million at March 31, 2026 and December 30, 2025, respectively.
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.