5 unchanged sentences
Currently we do not use financial instruments to hedge our commodity risk.
−Removed: The Company’s market basket experienced cost inflation of approximately 13.0% in 2022.
−Removed: In 2023, we expect continued cost inflation for our entire market basket in the range of 4.0% 6.0%.
+Added: The Company’s market basket experienced cost deflation of 50 basis points in 2023.
+Added: In 2024, we expect cost inflation for our entire market basket in the range of 2% to 4%.
In 2024, we have locked prices for approximately 32% of our market basket.
2 unchanged sentences
As of December 31, 2023, we had $92.5 million in outstanding borrowings, excluding unamortized debt discount and deferred issuance costs.
−Removed: Our loans pursuant to our Credit Agreement incur interest at a floating rate and we also pay an unused commitment fee of between 25 and 50 basis points on the undrawn commitments under our revolving credit facility pursuant to our Credit Agreement, depending on the Total Rent Adjusted Net Leverage Ratio, as defined in our Credit Agreement.
−Removed: See Note 8, Debt, in the accompanying notes to the consolidated financial statements included in Item 8 of Part II of this Annual Report on Form 10-K for additional information.
−Removed: We currently do not hedge our interest rate exposure and we manage exposure to adverse interest rate changes through our normal operating and financing activities.
−Removed: Based on the outstanding variable rate loan balance for the Term Facility at December 25, 2022, a potential change from a hypothetical 100 basis point increase/decrease in short-term interest rates would cause an increase or decrease in interest expense of approximately $1.8 million over the next 12 months.
+Added: Our loans pursuant to our Credit Agreement incur interest at a floating rate and we also pay an unused commitment fee of between 25 and 50 basis points on the undrawn commitments under our Revolving Credit Facility, depending on the Total Rent Adjusted Net Leverage Ratio, as defined in our Credit Agreement.
+Added: On June 23, 2023, we entered into a variable-to-fixed interest rate swap agreement with two financial institutions to hedge $90.0 million of the outstanding variable rate debt.
+Added: Under the terms of the interest rate swap agreements, the Company will pay a weighted average fixed rate of 4.16% on the notional amount and will receive payments from the counterparties based on the three-month secured overnight financing rate.
+Added: Refer to Note 10, Debt, and Note 11, Interest Rate Swaps , in the accompanying notes to the consolidated financial statements included in Item 8 of Part II of this Annual Report on Form 10-K for more information.
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.