8 unchanged sentences
As of June 30, 2020, we had $280 million of variable rate debt outstanding under our Amended Credit Agreement.
−Removed: Assuming current cash equivalents and variable rate borrowings, a hypothetical change in average interest rates of one percentage point would impact net interest expense by approximately $5.9 million over the next fiscal year.
+Added: During fiscal 2020, the Company used interest rate swaps to hedge a portion of the interest rate risk related its outstanding variable rate debt.
+Added: As of June 30, 2020, the notional amount of the interest rate swaps was $230 million for which we pay a weighted average fixed rate of 1.62%.
+Added: Assuming current cash equivalents, variable rate borrowings and the effects of the interest rate swaps, a hypothetical change in average interest rates of one percentage point would impact net interest expense by approximately $0.1 million over the next fiscal year.
Foreign Currency Exchange Rates
1 unchanged sentence
During fiscal 2020, approximately 51% of our consolidated net sales were generated from sales outside the United States, while such sales outside the United States were 50% of net sales in fiscal 2019 and 50% of net sales in fiscal 2018.
−Removed: These revenues, along with related expenses and capital purchases, were conducted in British Pounds Sterling, Euros, Indian Rupees and Canadian Dollars.
+Added: These revenues, along with related expenses and capital purchases, were conducted primarily in British Pounds Sterling, Euros, Indian Rupees and Canadian Dollars.
Sales and operating income would have decreased by approximately $53.1 million and $3.3 million, respectively, if average foreign exchange rates had been lower by 5% against the U.S.
2 unchanged sentences
To reduce that risk, the Company may enter into certain derivative financial instruments, when available on a cost-effective basis, to manage such risk.
−Removed: We had approximately $44.1 million in notional amounts of forward contracts at June 30, 2019 .
+Added: We had approximately $143.5 million in notional amounts of cross-currency swaps and foreign currency exchange contracts at June 30, 2020.
See Note 17, Financial Instruments Measured at Fair Value , in the Notes to Consolidated Financial Statements included in Item 8 of this Form 10-K.
1 unchanged sentence
Amounts invested in our non-United States subsidiaries are translated into United States Dollars at the exchange rates as of the last day of each reporting period.
−Removed: Any resulting cumulative translation adjustments are recorded in Stockholders’ Equity as Accumulated Other Comprehensive Income.
+Added: Any resulting cumulative translation adjustments are recorded in Stockholders’ Equity as Accumulated Other
+Added: Comprehensive Income.
The cumulative translation adjustments component of Accumulated Other Comprehensive Loss decreased by $37.8 million during the fiscal year ended June 30, 2020.
10 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.