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In order to mitigate our exposure to interest rate changes related to our variable-rate debt, we execute interest rate swap contracts to fix the interest rate on a portion of our outstanding or forecasted long-term debt with varying maturities.
−Removed: As of June 30, 2025, a hypothetical 100 basis point increase in rates, inclusive of the impact of our outstanding interest rate swaps that are accruing interest as of June 30, 2025, would result in a $8.3 million impact to interest expense over the next 12 months.
+Added: As of June 30, 2026, a hypothetical 100 basis point increase in rates, inclusive of the impact of our outstanding interest rate swaps that are accruing interest as of June 30, 2026, would result in a $7.4 million increase to interest expense over the next 12 months.
This does not include any yield from cash and marketable securities.
9 unchanged sentences
dollar could result in higher or lower net income (loss) when, upon consolidation, those transactions are translated to U.S.
−Removed: When the value or timing of revenue and expenses in a given currency are materially different, we may be exposed to significant impacts on our net loss and non-GAAP financial metrics, such as adjusted EBITDA.
+Added: When the value or timing of revenue and expenses in a given currency are materially different, we may be exposed to significant impacts on our net income and non-GAAP financial metrics, such as adjusted EBITDA.
Our currency hedging objectives are targeted at reducing volatility in our forecasted U.S.
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Since adjusted EBITDA excludes non-cash items such as depreciation and amortization that are included in net (loss) income, we may experience increased, not decreased, volatility in our GAAP results due to our hedging approach.
−Removed: Our most significant net currency exposures by volume are in the Euro and British Pound.
+Added: Our most significant net currency exposures by volume are in the Euro and GBP.
In addition, we elect to execute currency derivatives contracts that do not qualify for hedge accounting.
−Removed: As a result, we may experience volatility in our consolidated statements of operations due to (i) the impact of unrealized gains and losses reported in other (expense) income, net, on the mark-to-market of outstanding contracts and (ii) realized gains and losses recognized in other (expense) income, net, whereas the offsetting economic gains and losses are reported in the line item of the underlying activity, for example, revenue.
+Added: As a result, we may experience volatility in our consolidated statements of operations due to (i) the impact of unrealized gains and losses reported in other income (expense), net, on the mark-to-market of outstanding contracts and (ii) realized gains and losses recognized in other income (expense), net, whereas the offsetting economic gains and losses are reported in the line item of the underlying activity, for example, revenue.
• Translation of our non-U.S.
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• Remeasurement of monetary assets and liabilities:
−Removed: Transaction gains and losses generated from remeasurement of monetary assets and liabilities denominated in currencies other than the functional currency of a subsidiary are included in other (expense) income, net, on the consolidated statements of operations.
+Added: Transaction gains and losses generated from remeasurement of monetary assets and liabilities denominated in currencies other than the functional currency of a subsidiary are included in other income (expense), net, on the consolidated statements of operations.
Certain of our subsidiaries hold intercompany loans denominated in a currency other than their functional currency.
−Removed: Due to the significance of these balances, the revaluation of intercompany loans can have a material impact on other (expense) income, net.
+Added: Due to the significance of these balances, the revaluation of intercompany loans can have a material impact on other income (expense), net.
We expect these impacts may be volatile in the future, although our largest intercompany loans do not have a U.S.
dollar cash impact for the consolidated group because they are either:
−Removed: dollar loans or 2) used to hedge certain non-U.S.
−Removed: dollar loans with cross-currency swaps and forward contracts.
+Added: dollar loans or 2) are non-U.S.
+Added: dollar loans that we hedge with cross-currency swap and forward contracts.
A hypothetical 10% change in currency exchange rates was applied to total net monetary assets denominated in currencies other than the functional currencies at the balance sheet dates to compute the impact these changes would have had on our income before income taxes in the near term.
1 unchanged sentence
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.