5 unchanged sentences
We are subject to exposure from changes in short-term interest rates related to interest payments on our borrowing arrangements.
−Removed: A significant amount of our borrowings as of September 30, 2022 are variable-rate facilities based on SOFR.
+Added: A significant amount of our borrowings as of March 31, 2023 are variable-rate facilities based on the Secured Overnight Financing Rate or SOFR.
In order to mitigate our interest rate risk, we may enter into interest rate swap or collar agreements.
−Removed: A hypothetical increase in interest rates of 1% during the three and nine months ended September 30, 2022 would have increased Interest expense for our variable rate-based debt by approximately $1.1 million and $6.1 million, respectively.
+Added: A hypothetical increase in interest rates of 1% during the three months ended March 31, 2023 would have increased Interest expense for our variable rate-based debt by approximately $0.7 million.
Exchange Rate Risk
1 unchanged sentence
dollar and against the currencies of other countries in which we manufacture and sell products and services.
−Removed: During the three months ended September 30, 2022 and October 1, 2021, approximately 28% of our sales were derived from operations outside the U.S.
+Added: During the three months ended March 31, 2023 and April 1, 2022, approximately 33% of our sales were derived from operations outside the U.S.
We have manufacturing operations in certain foreign countries including Mexico, Switzerland, Germany, Tunisia, and China.
−Removed: Sales are more highly weighted toward the Euro and U.S.
+Added: Sales are more highly weighted toward the U.S.
+Added: dollar and Euro than other currencies.
We also have significant contractual obligations in U.S.
−Removed: dollars that are met with
−Removed: cash flows in other currencies as well as U.S.
+Added: dollars that are met with cash flows in other currencies as well as U.S.
To better match revenue and expense, as well as cash needs from contractual liabilities, we may enter into currency swaps and forward contracts.
12 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.