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We have interest rate risk relative to our outstanding borrowings under our revolving credit facility.
−Removed: At January 30, 2026, our outstanding borrowings totaled $45,500 under our 2025 Revolving Credit Facility (see Note 4 to the Condensed Consolidated Financial Statements).
+Added: At May 01, 2026, no borrowings were outstanding under our 2025 Revolving Credit Facility (see Note 4 to the Condensed Consolidated Financial Statements).
+Added: Accordingly, no interest rate sensitivity analysis has been presented.
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.
1 unchanged sentence
Additionally, the 2026 Notes and the 2030 Notes bear cash interest at a fixed rate of 0.625% and 1.75%, respectively, per annum.
−Removed: The impact of a one-percentage point increase or decrease in the $45,500 of our outstanding borrowings under our 2025 Revolving Credit Facility is approximately $460 on a pre-tax annualized basis.
In 2021, the Company issued the 2026 Notes and entered into certain convertible note hedge transactions (“Convertible Note Hedge Transactions”) and warrant transactions (“Warrant Transactions”) with certain of the initial purchasers of the 2026 Notes and/or their respective affiliates and other financial institutions (the “Hedge Counterparties”).
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.