3 unchanged sentences
We enter into currency forward exchange contracts to hedge a portion, but not all, of existing foreign currency denominated amounts.
−Removed: Gains and losses on these contracts are generally recognized in Other income, net in our Consolidated Statements of Income.
+Added: Gains and losses on these contracts are generally recognized in Other income (expense), net in our Consolidated Statements of Income.
Because the effect of movements in currency exchange rates on the currency forward exchange contracts generally offsets the related effect on the underlying items being hedged, these financial instruments are not expected to subject us to risks that would otherwise result from changes in currency exchange rates as of December 30, 2023.
We do not use derivative financial instruments for trading or speculative purposes.
−Removed: We recognized a net gain from foreign exchange of $1.1 million and zero in fiscal 2022 and 2021, respectively, and a net loss of $0.5 million in fiscal 2020.
+Added: We recognized a net gain from foreign exchange of $0.6 million, $1.1 million, and zero in fiscal 2023, 2022, and 2021, respectively.
Interest Rate Sensitivity
7 unchanged sentences
treasuries and U.S.
−Removed: Our exposure to interest rate risk arising from our Term Loans (see Note 5, Debt , of Notes to Consolidated Financial Statements) is insignificant as a result of the interest-rate swap agreement (see Note 8, Derivative Financial Instruments , of Notes to Consolidated Financial Statements) that we entered into with Union Bank to hedge the interest payments on our Building Term Loan.
+Added: Our exposure to interest rate risk arising from our Term Loan (see Note 6, Debt , of Notes to Consolidated Financial Statements) is insignificant as a result of the interest-rate swap agreement (see Note 9, Derivative Financial Instruments , of Notes to Consolidated Financial Statements) that we entered into with Union Bank to hedge the interest payments on our Building Term Loan.
We use interest rate derivative instruments to manage certain interest rate exposures.
3 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.