4 unchanged sentences
Interest Rate Risk
−Removed: We entered into certain Term Loans and a Revolving Facility credit facilities pursuant to the terms of the Credit Agreement.
−Removed: Please refer to Note 9 “Debt” in our Notes included in this Form 10-Q for additional information regarding our Facilities.
+Added: We entered into certain Term Loans and a Revolving Facility pursuant to the terms of the Credit Agreement.
+Added: Please refer to Note 9 “Debt” in the accompanying Notes contained elsewhere in this Form 10-Q for additional information regarding our Facilities.
We are exposed to interest rate risk on the variable-rate term loans under these Facilities.
−Removed: A hypothetical increase in interest rates of 1% during the six months ended June 30, 2023 would have increased interest expense by approximate ly $2.8 million.
−Removed: In order to mitigate our interest risk, in July 2022, we entered into interest rate swaps to hedge approximately $600 million of our variable interest rate debt.
−Removed: See Note 10 “Derivatives” in our Notes included in this Form 10-Q for additional information.
+Added: A hypothetical increase in interest rates of 1% during the nine months ended September 29, 2023 would have increased interest expense by approximate ly $3.7 million.
+Added: To mitigate our interest risk, in July 2022, we entered into interest rate swaps to hedge approximately $600 million of our variable interest rate debt.
+Added: See Note 10 “Derivatives” in our Notes contained elsewhere in this Form 10-Q for additional information.
Exchange Rate Risk
2 unchanged sentences
Dollar and against the currencies of other countries in which we manufacture and sell products and services.
−Removed: During the six months ended June 30, 2023, approximately 79% of our sales were derived from operations outside the United States.
+Added: During the nine months ended September 29, 2023, approx imately 79% of our sales were derived from operations outside the United States.
We have significant manufacturing operations in European countries that are not part of the Eurozone.
6 unchanged sentences
A 10% depreciation in major currencies relative to the U.S.
−Removed: Dollar as of June 30, 2023 would result in a reduction in Equity of approximately $175 million.
+Added: Dollar as of September 29, 2023 would result in a reduction in Equity of approximately $174 million.
In 2022, we entered into two fixed-to-fixed cross-currency swaps, which will provide a hedge to a portion of our European net asset position.
−Removed: See Note 10 “Derivatives” in our Notes to Consolidated and Combined Condensed Financial Statements included in this Form 10-Q for additional information.
+Added: See Note 10 “Derivatives” in our Notes contained elsewhere in this Form 10-Q for additional information.
We also face exchange rate risk from intercompany transactions between affiliates.
3 unchanged sentences
Dollars using exchange rates effective during the respective period.
−Removed: result, we are exposed to movements in the exchange rates of various currencies against the U.S.
+Added: As a result, we are exposed to movements in the exchange rates of various currencies against the U.S.
Similarly, tax costs may increase or decrease as local currencies strengthen or weaken against the U.S.
1 unchanged sentence
We are exposed to changes in the prices of raw materials used in our production processes.
−Removed: In order to manage commodity price risk, we periodically enter into fixed price contracts directly with suppliers.
+Added: To manage commodity price risk, we periodically enter into fixed price contracts directly with suppliers.
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.