5 unchanged sentences
The variable rate financial instruments consist of the outstanding borrowings on our revolving credit facility.
−Removed: At June 30, 2021, $171.3 million was outstanding under the revolving credit facility.
+Added: On June 29, 2022, $271.3 million was outstanding under the revolving credit facility.
The impact on our annual results of operations of a hypothetical one-point interest rate change on the outstanding balance of these variable rate financial instruments as of June 29, 2022 would be approximately $2.7 million.
4 unchanged sentences
We do not use financial instruments to hedge commodity prices because these purchase arrangements help control the ultimate cost paid.
−Removed: Impact of Inflation
−Removed: We believe that our results of operations are not materially impacted by moderate changes in the inflation rate.
−Removed: Inflation did not have a material impact on our operations in fiscal 2021, 2020 or 2019.
−Removed: However, severe increases in inflation could affect the United States or global economies and have an adverse impact on our business, financial condition and results of operations.
−Removed: If several of the various costs in our business experience inflation at the same time, such as commodity price increases beyond our ability to control and increased labor costs, we may not be able to adjust prices to sufficiently offset the effect of the various cost increases without negatively impacting consumer demand.
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.