11 unchanged sentences
However, the fair value of our debt will generally fluctuate with movements of interest rates, increasing in periods of declining rates of interest and declining in periods of increasing rates of interest.
−Removed: As of December 26, 2020, we have approximately $306.6 million of long-term debt due under a credit facility that is subject to quarterly interest payments that are based on either a base rate plus a margin of up to 2.0% per annum, or the London Interbank Offered Rate (LIBOR) plus a margin of up to 3.0% per annum.
+Added: As of December 25, 2021, we have approximately $103.1 million of long-term debt due under a Term Loan Credit Facility that is subject to quarterly interest payments that are based on either a base rate plus a margin of up to 2.0% per annum, or the London Interbank Offered Rate (LIBOR) plus a margin of up to 3.0% per annum.
The selection of the interest rate formula is at our discretion.
−Removed: The interest rate otherwise payable under the credit facility will be subject to increase by 2.0% per annum during the continuance of a payment default and may be subject to increase by 2.0% per annum with respect to the overdue principal amount of any loans outstanding and overdue interest payments and other overdue fees and amounts.
+Added: The interest rate otherwise payable under the Term Loan Credit Facility will be subject to increase by 2.0% per annum during the continuance of a payment default and may be subject to increase by 2.0% per annum with respect to the overdue principal amount of any loans outstanding and overdue interest payments and other overdue fees and amounts.
At December 25, 2021, the interest rate in effect on these borrowings was 3.09%.
5 unchanged sentences
The uncertainty regarding the future of LIBOR, as well as the transition from LIBOR to any alternative reference rate or rates, could have adverse impacts on floating rate obligations, loans, deposits, derivatives and other financial instruments that currently use LIBOR as a benchmark rate.
−Removed: Our Term Loan B facility constitutes our most significant exposure to this transition and there is no guarantee that a shift from LIBOR to a new reference rate will not result in increases to our borrowing costs.
+Added: Our Term Loan Credit Facility constitutes our most significant exposure to this transition and there is no guarantee that a shift from LIBOR to a new reference rate will not result in increases to our borrowing costs.
Foreign Currency Exchange Risk.
12 unchanged sentences
The resulting translation adjustments are recorded in stockholders’
−Removed: equity as a component of accumulated other comprehensive income.
+Added: equity as a component of accumulated other comprehensive loss.
As a result of fluctuations in certain foreign currency exchange rates in relation to the U.S.
Dollar as of December 25, 2021 compared to December 26, 2020, our stockholders’
−Removed: equity increased by $27.3 million as a result of the foreign currency translation.
+Added: equity decreased by $23.0 million as a result of the foreign currency translation.
Based upon the current levels of net foreign assets, a hypothetical 10% devaluation of the U.S.
−Removed: dollar as compared to these currencies as of December 26, 2020 would result in an approximate $38.6 million positive translation adjustment recorded in other comprehensive income within stockholders’
+Added: dollar as compared to these currencies as of December 25, 2021 would result in an approximate $31.1 million positive translation adjustment recorded in other comprehensive income within stockholders’
Conversely, a hypothetical 10% appreciation of the U.S.
−Removed: dollar as compared to these currencies as of December 26, 2020 would result in an approximate $38.6 million negative translation adjustment recorded in other comprehensive income within stockholders’
+Added: dollar as compared to these currencies as of December 25, 2021 would result in an approximate $31.1 million negative translation adjustment recorded in other comprehensive income within stockholders’
Financial Statements and Supplementary Data.
2 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.