4 unchanged sentences
We have established policies and procedures governing our management of market risks and the use of financial instruments to manage exposure to such risks.
−Removed: We generally do not hedge our interest rate exposure.
−Removed: We had $68.0 million of debt, bearing interest at a variable rate, outstanding under our Credit Facility as of January 3, 2020.
−Removed: A hypothetical 100 basis point increase or decrease in the interest rate on our variable debt would have resulted in an approximately $0.7 million change to our interest expense for the year ended January 3, 2020.
+Added: As of January 1, 2021, we had $395.0 million of indebtedness outstanding under the First Amended and Restated Credit Facility.
+Added: Based on the $195.0 million of variable interest rate indebtedness that was outstanding as of January 1, 2021, after giving effect to our interest rate swap, a hypothetical 100 basis point increase in the interest rate would have resulted in an approximately $2.0 million increase in interest expense for the year ended January 1, 2021.
+Added: A hypothetical 100 basis point decrease in the interest rate would not impact interest expense given that the current borrowing rate reflects the floor rate of 0.5%.
Exchange rate sensitivity
17 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.