4 unchanged sentences
All derivative financial instrument transactions must be authorized and executed pursuant to approval by the Board of Directors.
−Removed: As a matter of policy, we do not buy or sell financial instruments for speculative or trading purposes, and any such derivative financial instruments are intended to be used to reduce risk by hedging an underlying economic exposure.
+Added: As a matter of policy, we do not buy or sell financial instruments for speculative or trading purposes, and any such derivative
+Added: financial instruments are intended to be used to reduce risk by hedging an underlying economic exposure.
Our objective is to correlate derivative financial instruments and the underlying exposure being hedged, so that fluctuations in the value of the financial instruments are generally offset by reciprocal changes in the value of the underlying economic exposure.
2 unchanged sentences
We manage our interest rate risk through the strategic use of fixed and variable interest rate debt and, from time to time, derivative financial instruments.
−Removed: Currently, we are counterparty to certain interest rate swaps with a total notional amount of $350.0 million entered into in May 2021.
+Added: Currently, we are counterparty to certain interest rate swaps with a total notional amount of $350.0 million entered into in June 2021.
These swaps are scheduled to mature in April 2030.
8 unchanged sentences
Based on our outstanding variable rate cash and debt balances as of January 30, 2026, the net annualized effect of a one percentage point decrease in interest rates would have resulted in a pre-tax reduction of our earnings and cash flows of approximately $5.6 million in 2025.
−Removed: At February 2, 2024, our primary interest rate exposure was from changes in interest rates which affect our variable rate debt.
−Removed: Based on our outstanding variable rate debt as of February 2, 2024, after giving consideration to our interest rate swap agreements, the annualized effect of a one percentage point increase in variable interest rates would have resulted in a pretax reduction of our earnings and cash flows of approximately $3.5 million in 2023 .
+Added: At January 31, 2025, our primary interest rate exposure was from changes in interest rates on our variable rate investment holdings, which are classified as cash and cash equivalents in our consolidated financial statements.
+Added: The increase in cash and cash equivalents was driven primarily from cash from operations.
+Added: Based on our outstanding variable rate cash and debt balances as of January 31, 2025, the net annualized effect of a one percentage point decrease in interest rates would have resulted in a pre-tax reduction of our earnings and cash flows of approximately $3.5 million in 2024 .
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.