4 unchanged sentences
Interest Rate Risk
−Removed: We entered into certain Term Loans and a Revolving Facility pursuant to the terms of the Credit Agreement.
−Removed: Refer to Note 15, “Debt” in our Notes included in this Form 10-K for additional information regarding our credit facilities.
+Added: We entered into a term loan facility and a revolving credit facility pursuant to the terms of the A&R Credit Agreement.
+Added: Refer to Note 15, “Debt” in our Notes included in this Form 10-K for additional information.
We are exposed to interest rate risk on the variable-rate term loans under these facilities.
A hypothetical increase in interest rates of 1% during the year ended December 31, 2025 would have increased interest expense by approximatel y $5.4 million.
−Removed: T o mitigate our interest risk, in 2022, we entered into two interest rate swaps to hedge $600 million of our floating-rate debt.
−Removed: In 2024, the Company issued the Senior Notes, the proceeds of which paid off the Term A-3 loan.
−Removed: As a result, the Company terminated one of these swaps and, as of December 31, 2024 we hedge only $300 million of our floating-rate debt.
+Added: A hypothetical increase in interest rates of 1% during the year ended December 31, 2024 would have increased interest expense by approximatel y $0.9 million.
Refer to Note 16, “Derivatives” in our Notes included in this Form 10-K for additional information.
3 unchanged sentences
Dollar and against the currencies of other countries in which we manufacture and sell products and services.
−Removed: During the year ended December 31, 2024, approxima tely 78% of our sales were derived from operations outside the United States.
+Added: During the years ended December 31, 2025 and 2024 , approxima tely 80% and 78% of our sales, respectively, were derived from operations outside the United States.
We have significant manufacturing operations in European countries that are not part of the Eurozone.
7 unchanged sentences
Dollar as of December 31, 2025, would result in a reduction in Equity of approximat ely $245 million.
+Added: A 10% depreciation in major curren cies, relative to the U.S.
+Added: Dollar as of December 31, 2024, would result in a reduction in Equity of approximat ely $164 million.
As of December 31, 2025, we have six fixed-to-fixed cross-currency swaps that are expected to provide a hedge to a portion of our European net asset position.
11 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.