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What changed 10-Q
Item 3. Quantitative and Qualitative Disclosures About Market Risk
2023-05-03 compared with 2023-02-01 · 1 added, 1 removed, 10 unchanged (17% of the section changed)
3 unchanged sentences
Our revolving credit facility agreement includes transition language to an alternate base rate, SOFR, when LIBOR rates are discontinued at the end of fiscal 2023.
−Removed: As of December 28, 2022, we had $311.3 million outstanding on our revolving credit facility, and our interest rate was 6.438% consisting of LIBOR of 4.438% plus the applicable margin of 2.000%.
+Added: As of March 29, 2023, we had $221.3 million outstanding on our revolving credit facility, and our interest rate was 6.875% consisting of LIBOR of 4.875% plus the applicable margin of 2.000%.
A hypothetical increase in our variable interest rate of one percentage point would increase our estimated annual interest expense by $2.2 million.
5 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.