1 unchanged sentence
The Company is subject to interest rate volatility with regard to existing issuances of debt, including its revolving credit facility and the Term Loan Facilities.
−Removed: The Company had outstanding borrowings under the Term Loan Facilities in the first quarter of 2026 totaling $1.20 billion.
−Removed: Based on the Company’s variable rate debt and fixed rate interest rate swaps outstanding as of April 3, 2026, we estimate a 1% increase in interest rates would increase annual interest expense by $7.8 million.
+Added: The Company had outstanding borrowings under the Term Loan Facilities as of July 3, 2026 totaling $1.08 billion.
+Added: Based on the Company’s variable rate debt and fixed rate interest rate swaps outstanding as of July 3, 2026, we estimate a 1% increase in interest rates would increase annual interest expense by $6.9 million.
As of December 31, 2025, the Company had outstanding borrowings under the Term Loan Facilities totaling $1.35 billion and estimated a 1% increase in interest rates would increase annual interest expense by $13.5 million.
9 unchanged sentences
The Company manages its commodity price risk in some cases by entering into contracts with adjustable prices to hedge commodity purchases, including portions of our aluminum input costs and fuel expenses related to our selling and distribution activities.
−Removed: The Company periodically uses commodity derivative instruments in the management of this risk, and estimates a 10% decrease in the underlying commodity prices would have decreased the fair value of our commodity derivative instruments by approximately $10 million as of April 3, 2026.
+Added: The Company periodically uses commodity derivative instruments in the management of this risk, and estimates a 10% decrease in the underlying commodity prices would have decreased the fair value of our commodity derivative instruments by approximately $18 million as of July 3, 2026.
Fees paid by the Company for agreements to hedge commodity purchases are amortized over the corresponding period of each agreement.
The Company accounts for its commodity derivative instruments on a mark-to-market basis with any expense or income being reflected as an adjustment to cost of sales or SD&A expenses, consistent with the expense classification of the underlying hedged item.
−Removed: The rate of inflation in the United States, as measured by year-over-year changes in the Consumer Price Index, was 3.3% in March 2026, as compared to 2.7% in December 2025 and 2.9% in December 2024.
+Added: The rate of inflation in the United States, as measured by year-over-year changes in the Consumer Price Index, was 3.5% in June 2026, as compared to 2.7% in December 2025 and 2.9% in December 2024.
Inflation in the prices of those commodities important to the Company’s business is reflected in changes in the Consumer Price Index.
3 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.