4 unchanged sentences
We have interest rate risk relative to our outstanding borrowings under our revolving credit facility.
−Removed: At August 02, 2024 and July 28, 2023, our outstanding borrowings totaled $180,000 and $120,000, respectively (see Note 4 to our Consolidated Financial Statements).
−Removed: In accordance with the 2022 Revolving Credit Facility, outstanding borrowings bear interest, at our election, either at (1) the Term Secured Overnight Financing Rate (SOFR) or (2) a base rate equal to the greatest of (i) the prime rate, (ii) a rate that is 0.5% in excess of the Federal Funds Rate, and (iii) Term SOFR plus 1.0%, in each case plus an applicable margin based on the Company’s consolidated total leverage ratio.
+Added: At August 01, 2025, no borrowings were outstanding under our 2025 Revolving Credit Facility.
+Added: Accordingly, no interest rate sensitivity analysis has been presented.
+Added: At August 02, 2024, our outstanding borrowings totaled $180,000 under our 2022 Revolving Credit Facility with a weighted average interest rate of 7.19%.
+Added: See Note 4 to our Consolidated Financial Statements.
+Added: In accordance with the 2025 Revolving Credit Facility, outstanding borrowings bear interest, at our election, either at (1) the Term Secured Overnight Financing Rate (SOFR) or (2) a base rate equal to the greatest of (i) the prime rate, (ii) a rate that is 0.5% in excess of the Federal Funds Rate, and (iii) one-month Term SOFR plus 1.0%, in each case plus an applicable margin based on the Company’s consolidated total leverage ratio.
Our policy has been to manage interest cost using a mix of fixed and variable rate debt (see Note 4 to our Consolidated Financial Statements).
−Removed: Additionally, we have Notes, which bear cash interest at a fixed rate of 0.625% per annum.
−Removed: At August 02, 2024, the weighted average interest rate of our outstanding $180,000 borrowings was 7.19%.
−Removed: At July 28, 2023, the weighted average interest rate of our outstanding $120,000 borrowings was 6.79%.
−Removed: The impact of a one-percentage point increase in the $180,000 of our outstanding borrowings at August 02, 2024, is approximately $1,800.
+Added: Additionally, we have 2026 Notes and 2030 Notes, which bear cash interest at a fixed rate of 0.625% and 1.75%, respectively, per annum.
In 2021, the Company issued the 2026 Notes and entered into the Convertible Note Hedge Transactions and the Warrant Transactions with the Hedge Counterparties.
−Removed: Subject to the movement in the Company’s common stock price, the Company could be exposed to credit risk arising out of the net settlement of the Convertible Note Hedge Transactions and the Warrant Transactions in its favor.
+Added: In 2025, the Company issued the 2030 Notes and entered into the Capped Call Transactions.
+Added: In connection with the issuance of the 2030 Notes, the Company entered into partial unwind agreements with initial purchasers of the 2026 Notes to unwind a portion of the Convertible Note Hedge Transactions and the Warrant Transactions.
+Added: Subject to the movement in the Company’s common stock price, the Company could be exposed to credit risk arising out of the net settlement of the Capped Call Transactions, the Convertible Note Hedge Transactions and the Warrant Transactions in its favor.
Based on the Company’s review of the possible net settlements and the creditworthiness of the Hedge Counterparties and their affiliates, the Company believes it does not have a material exposure to credit risk as a result of these transactions at this time.
14 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.