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Our operating results are subject to market risk from interest rate fluctuations on our credit facilities, which bear variable interest rates.
−Removed: As of December 30, 2023, our outstanding borrowings includ ed $294.4 million from our senior term loan under the 2023 Credit Agreement.
−Removed: As of December 30, 2023, the interest rate on the senior term loan was 7.46% (See NOTE 6—Long-term Debt to our Consolidated Financial Statements for additional information).
−Removed: Based on the outstanding balance and interest rate of our senior term loan as of December 30, 2023, a hypothetical 10% relative in crease or decrease in the interest rate would cause an increase or decrease in interest expense, excluding the capitalization of interest, of approximately $2.2 million over t he next 12 months.
+Added: As of December 28, 2024, our outstanding borrowings i ncluded $288.8 million from the senior term loan and $190.0 million from the revolving credit facility under the 2023 Credit Agreement.
+Added: As of December 28, 2024, the interest rate on these borrowings ranged from 6.92% to 6.95% (See NOTE 6—Long-term Debt to our Consolidated Financial Statements for additional information).
+Added: Based on the outsta nding balances and interest rates of the senior term loan and the revolving credit facility as of December 28, 2024, a hypothetical 10% relative in crease or decrease in the interest rate would cause an increase or decrease in interest expense, excluding the capitalization of interest, of approximately $3.3 million over t he next 12 months.
We do not use derivative financial instruments for speculative or trading purposes, but this does not preclude our adoption of specific hedging strategies in the future.
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Our results of operations and financial condition are presented based on historical cost.
−Removed: While it is difficult to accurately measure the impact of inflation due to the imprecise nature of the estimates required, we have experienced over the last several years varying levels of inflation, resulting in part from various supply disruptions, increased shipping and transportation costs, increased commodity costs, increased labor costs in the supply chain, increased SG&A related to personnel, travel, and other operational costs and other disruptions caused by the current macroeconomic environment.
+Added: While it is difficult to accurately measure the impact of inflation due to the imprecise nature of the estimates required, we have experienced over the last several years varying levels of inflation and subsequent disinflation, resulting in part from various supply disruptions, increased shipping and transportation costs, increased commodity costs, increased labor costs in the supply chain, increased materials costs to develop new stores, increased SG&A related to personnel, travel, and other operational costs and other disruptions caused by the recent macroeconomic environment.
Similarly, our IOs have been impacted by staffing challenges and increased labor costs and utility costs within their businesses.
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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.