9 unchanged sentences
Committed floating rate credit facilities are used to fund a portion of operations.
−Removed: We believe that probable near-term changes in interest rates would not materially affect financial condition, results of operations or cash flows.
−Removed: The annual impact on interest expense of a one-percentage point interest rate change on the outstanding balance of our variable rate debt, net of interest rate swap derivatives as of December 2, 2023, would have resulted in a change in net income of approximately $5.3 million or $0.09 per diluted share.
+Added: We believe that probable near-term changes in interest rates would not materially affect our financial condition, results of operations or cash flows.
+Added: The annual impact on interest expense of a one-percentage point interest rate change on the outstanding balance of our variable rate debt, net of interest rate swap derivatives as of November 30, 2024, would have resulted in a change in net income of approximately $6.0 million or $0.11 per diluted share.
Foreign Exchange Risk
−Removed: As a result of being a global enterprise, there is exposure to market risks from changes in foreign currency exchange rates. Our operating results, financial condition and net investment in foreign subsidiaries are subject to both currency translation and currency transaction risk.
−Removed: Approximately 56 percent of net revenue was generated outside of the United States in 2023.
−Removed: Principal foreign currency exposures relate to the Euro, Chinese renminbi, British pound sterling, Egyptian pound, Turkish lira, Brazilian real, Canadian dollar, Australian dollar and Mexican peso .
+Added: As a result of being a global enterprise, there is exposure to market risks from changes in foreign currency exchange rates.
+Added: Our operating results, financial condition and net investment in foreign subsidiaries are subject to both currency translation and currency transaction risk.
+Added: Approximately 55 percent of net revenue was generated outside of the United States in 2024.
+Added: Principal foreign currency exposures relate to the Euro, Chinese renminbi, British pound sterling, Egyptian pound, Turkish lira, Brazilian real, Canadian dollar, Australian dollar and Mexican peso .
We enter into cross border transactions through importing and exporting goods to and from different countries and locations.
4 unchanged sentences
We do not enter into any speculative positions with regard to derivative instruments.
−Removed: Based on 2023 financial results, a hypothetical one percent change in our cost of sales due to foreign currency rate changes would have resulted in a change in net income attributable to H.B.
−Removed: Fuller of approximately $9.4 million or $0.17 per diluted share.
−Removed: Based on 2023 financial results and foreign currency balance sheet positions as of December 2, 2023, a hypothetical overall 10 percent change in the U.S.
−Removed: dollar would have resulted in a change in net income of approximately $16.7 million or $0.30 per diluted share.
+Added: Based on 2024 financial results, a hypothetical one percent change in our cost of sales due to foreign currency rate changes would have resulted in a change in net income attributable to H.B.
+Added: Fuller of approximately $8.4 million or $0.15 per diluted share.
+Added: Based on 2024 financial results and foreign currency balance sheet positions as of November 30, 2024, a hypothetical overall 10 percent change in the U.S.
+Added: dollar would have resulted in a change in net income of approximately $15.7 million or $0.28 per diluted share.
Raw Materials
7 unchanged sentences
The leverage of having substitute raw materials approved for use wherever possible is used to minimize the impact of possible price increases.
−Removed: Based on 2023 financial results, a hypothetical one percent change in our raw material costs would have resulted in a change in net income of approximately $13.3 million or $0.24 per diluted share.
+Added: Based on 2024 financial results, a hypothetical one percent change in our raw material costs would have resulted in a change in net income of approximately $12.0 million or $0.21 per diluted share.
Recently Issued Accounting Pronouncements
1 unchanged sentence
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.