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We borrow under this credit facility to support general corporate purposes, including capital expenditures and working capital needs.
−Removed: Federal Reserve Board increased interest rates several times in fiscal 2024 and began to decrease interest rates in fiscal 2025.
+Added: Federal Reserve Board increased interest rates several times in fiscal 2024 and decreased interest rates in 2025 and 2026.
It is unclear whether the Federal Reserve will reduce, increase or maintain the current interest rates in fiscal 2027.
Additional increases in interest rates, or the continuation of the current rates, by the Federal Reserve will result in increases in our interest expense under our ABL Credit Agreement.
−Removed: The Federal Reserve began to reduce interest rates in fiscal 2025.
−Removed: Based on our borrowings under our ABL Credit Agreement during the year ended January 31, 2025, our incremental interest expense would have increased by approximately $0.2 million if our borrowing rates remained at their highest level during fiscal 2025.
+Added: We had nominal borrowings under our ABL Credit Agreement during the year ended January 31, 2026.
+Added: We estimate that each 100 basis point increase in our borrowing rates would result in additional interest expense to us of approximately $1 million for each $100 million outstanding our ABL Credit Agreement.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
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.