5 unchanged sentences
dollars can affect our revenues, earnings, and the carrying values of our assets and liabilities in our consolidated balance sheet, either positively or negatively.
−Removed: To manage the exposures related to the effects of foreign exchange rate fluctuations, the we utilize derivative instruments (foreign currency forward contracts).
−Removed: The changes in fair value for these foreign currency forward contracts are initially reported as a component of AOCL and subsequently reclassified into operating expenses when the hedged exposure affects earnings.
+Added: To manage the exposures related to the effects of foreign exchange rate fluctuations, we utilize derivative instruments (foreign currency forward contracts).
+Added: The changes in fair value for these foreign currency forward contracts are initially reported as a component of Accumulated other comprehensive loss ("AOCL") and subsequently reclassified into operating expenses when the hedged exposure affects earnings.
A sensitivity analysis was performed based on the estimated fair value of all foreign currency forward contracts outstanding at August 31, 2021.
2 unchanged sentences
If we had no hedges in place as of August 31, 2021, a hypothetical 10% weaker U.S.
−Removed: dollar against all foreign currencies from the quoted foreign currency exchange rates at August 31, 2020, with operating results held constant in local currencies, would result in a decrease in operating income by $35.4 million over the next 12 months.
+Added: dollar against all foreign currencies from the quoted foreign currency exchange rates at August 31, 2021, with operating results held constant in local currencies, would result in a decrease in operating income of $38.2 million over the next 12 months.
A hypothetical 10% weaker U.S.
dollar against all foreign currencies at August 31, 2021 would have increased the fair value of total assets by $71.4 million and equity by $46.7 million.
−Removed: Volatility in the British Pound Sterling exchange rate remains a possibility in the short term as the UK continues the transition resulting from its exit from the European Union.
−Removed: In the longer term, any impact from Brexit will depend on, in part, the outcome of tariff, regulatory, and other negotiations.
−Removed: Refer to Item 1A.
−Removed: Risk Factors of this Annual Report on Form 10-K for further discussion on Brexit.
−Removed: Refer to Note 6, Derivative Instruments in the Notes to the Company’s Consolidated Financial Statements included in Item 8.
+Added: Refer to Note 6, Derivative Instruments in the Notes to the Consolidated Financial Statements included in Item 8.
of this Annual Report on Form 10-K for more information on our foreign currency exposures and our foreign currency forward contracts.
5 unchanged sentences
As we have a restrictive investment policy, our financial exposure to fluctuations in interest rates is expected to remain low.
−Removed: Refer to Note 3, Summary of Significant Accounting Policie s in the Notes to the Company’s Consolidated Financial Statements included in Item 8.
−Removed: of this Annual Report on Form 10-K for more information on our cash and cash equivalents and investments policies.
+Added: Refer to Note 3, Summary of Significant Accounting Policies in the Notes to the Consolidated Financial Statements included in Item 8.
+Added: of this Annual Report on Form 10-K for more information on our cash and cash equivalents.
As of August 31, 2021, we had long term debt outstanding under the 2019 Revolving Credit Facility with a principal balance of $575.0 million.
3 unchanged sentences
Thus, we are only exposed to base interest rate risk on floating rate borrowings in excess of any amounts that are not hedged, or $287.5 million of our outstanding principal balance.
−Removed: Assuming all terms of our outstanding long-term debt remained the same, a hypothetical 25 basis point change (up or down) in the one-month LIBOR would result in a $0.7
−Removed: million change to our annual interest expense for the portion of the long-term debt not hedged by the interest rate swap agreement.
−Removed: Refer to Note 12, Debt in the Notes to the Company’s Consolidated Financial Statements included in Item 8.
+Added: Assuming all terms of our outstanding long-term debt remained the same, a hypothetical 25 basis point change (up or down) in the one-month LIBOR would result in a $0.7 million change to our annual interest expense for the portion of the long-term debt not hedged by the interest rate swap agreement.
+Added: Refer to Note 13, Debt in the Notes to the Consolidated Financial Statements included in Item 8.
of this Annual Report on Form 10-K for additional information regarding our outstanding debt obligations.
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.