12 unchanged sentences
In 2023, changes in currency translation rates reduced sales by approximately $2 million and reduced net earnings by approximately $4 million.
−Removed: In 2021, changes in currency translation rates increased sales by approximately $26 million and increased net earnings by approximately $12 million.
−Removed: The Company expects its core growth strategies of developing new products, expanding distribution, seeking adjacent markets and pursuing strategic acquisitions will help growth prospects in the future.
+Added: In 2022, changes in currency translation rates reduced sales by approximately $66 million and reduced net earnings by approximately $31 million.
+Added: The Company expects its core growth strategies of developing new products, expanding distribution, seeking adjacent markets and targeting strategic acquisitions will continue to drive shareholder value.
+Added: Entering 2024, demand levels generally remain steady in an uncertain macroeconomic environment.
As a result, the Company's outlook for 2024 is low single-digit revenue growth on an organic, constant currency basis.
−Removed: At January 31, 2023 exchange rates, assuming the same volumes, mix of products and mix of business by currency as in 2022, the movement in foreign currencies would have a favorable impact of approximately 1 percent on sales and 1 percent on net earnings in 2023.
−Removed: The Company’s backlog is not a good indicator of future long-term business levels.
+Added: At January 31, 2024 exchange rates, assuming the same volumes, mix of products and mix of business by currency as in 2023, the movement in foreign currencies would not have an impact on net sales or net earnings for 2024.
+Added: While the Company's backlog in recent years has been elevated relative to historic levels, backlog is not a good indicator of future long-term business levels.
In addition to economic growth, the successful launch of new products and expanded distribution coverage, the sales outlook is dependent on many factors, including realization of price increases and stable foreign currency exchange rates.
7 unchanged sentences
Future results could differ materially from those expressed, due to the impact of changes in various factors.
−Removed: These risk factors include, but are not limited to, the factors discussed in Item 1A of this Annual Report on Form 10-K.
+Added: These risk factors include, but are not limited to, risks relating to the demand for our products and the level of commercial and industrial activity worldwide;
+Added: changes in currency translation rates;
+Added: Russia’s invasion of Ukraine and other political instability;
+Added: interest rate fluctuations and changes in credit markets;
+Added: global sourcing of materials;
+Added: interruptions of or intrusions into our information systems;
+Added: intellectual property rights;
+Added: the use of generative artificial intelligence;
+Added: conducting business internationally;
+Added: catastrophic events;
+Added: our ability to attract, develop and retain qualified personnel;
+Added: public health crises;
+Added: our growth strategies and acquisitions;
+Added: potential goodwill impairment;
+Added: our ability to compete effectively;
+Added: our dependence on a few large customers;
+Added: our dependence on cyclical industries;
+Added: changes in laws and regulations;
+Added: climate-related laws, regulations and accords;
+Added: environmental, social and governance-related expectations and requirements;
+Added: compliance with anti-corruption and trade laws;
+Added: changes in tax rates or the adoption of new tax legislation;
+Added: costs associated with legal proceedings;
+Added: and other risks and uncertainties including those discussed in Item 1A of this Annual Report on Form 10-K.
Shareholders, potential investors and other readers are urged to consider these factors in evaluating forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.
2 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.