7 unchanged sentences
Our cash equivalents consist primarily of money market funds or their equivalent.
−Removed: As of June 30, 2021, we had $230 million of variable rate debt outstanding under our Amended Credit Agreement.
+Added: As of June 30, 2022, we had $889 million of variable rate debt outstanding under our Credit Agreement.
During fiscal 2021, the Company used interest rate swaps to hedge a portion of the interest rate risk related its outstanding variable rate debt.
−Removed: As of June 30, 2021, the notional amount of the interest rate swaps was $230 million for which we pay a weighted average fixed rate of 1.62%.
+Added: As of June 30, 2022, the notional amount of the interest rate swaps was $630 million.
+Added: Of this amount, $230 million has a weighted average fixed rate of 1.77% with a maturity date in February 2023.
+Added: The remaining amount of $400 million relates to derivatives for which fixed rate payments of 4.85% w ill start from February 2023.
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 have no impact to net interest expense.
3 unchanged sentences
These revenues, along with related expenses and capital purchases, were conducted primar ily in British Pounds Sterling, Euros and Canadian Dollars.
−Removed: Sales and operating income would have decreased by approximately $53.2 million and $3.0 million, re spectively, if average foreign exchange rates had been lower by 5% against the U.S.
+Added: Sales and operating income would have decreased by approximatel y $42.3 million and $4.2 million, respectiv ely, if average foreign exchange rates had been lower by 5% against the U.S.
Dollar in fiscal 2022.
These amounts were determined by considering the impact of a hypothetical foreign exchange rate on the sales and operating income of the Company’s international operations.
−Removed: 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 $110.0 million in notional amounts of cross-currency swaps and foreign currency exchange contracts at June 30, 2021.
−Removed: See Note 16, Financial Instruments Measured at Fair Value , in the Notes to Consolidated Financial Statements included in Item 8 of this Form 10-K.
Fluctuations in currency exchange rates may also impact the Stockholders’ Equity of the Company.
2 unchanged sentences
The cumulative translation adjustments component of Accumulated Other Comprehensive Loss decreased by $102.1 million during the fiscal year ended June 30, 2022.
+Added: To reduce that risk, the Company ma y enter into certain derivative financial instruments, when available on a cost-effective basis, to manage such risk.
+Added: We had approximately $131.8 million in notional amounts of cross-currency swaps and foreign currency exchange contracts at June 30, 2022.
+Added: See Note 16, Derivatives and Hedging Activities , in the Notes to Consolidated Financial Statements included in Item 8 of this Form 10-K.
Ingredient Inputs Price Risk
−Removed: The Company purchases ingredient inputs such as almonds, coconut oil, corn, dairy, fruit and vegetables, oils, rice, soybeans, oats and wheat, as well as packaging materials, to be used in its operations.
+Added: The Company purchases ingredient inputs such as vegetables, fruits, oils, grains, beans, nuts, tea and herbs, spices, dairy products, plant-based surfactants, glycerin and alcohols, as well as packaging materials, to be used in its operations.
These inputs are subject to price fluctuations that may create price risk.
−Removed: We do not attempt to hedge against fluctuations in the prices of the ingredients by using future, forward, option or other derivative instruments.
−Removed: As a result, the majority of our future purchases of these items are subject to changes in price.
+Added: Although we sometimes hedge against fluctuations in the prices of the ingredients by using future or forward contracts or similar instruments, the ma jority of our future purchases of these items are subject to changes in price.
We may enter into fixed purchase commitments in an attempt to secure an adequate supply of specific ingredients.
1 unchanged sentence
Market risk is estimated as a hypothetical 10% increase or decrease in the weighted average cost of our primary inputs as of June 30, 2022.
−Removed: Based on our cost of goods sold during the fiscal year ended June 30, 2021, such a change would have resulted in an increase or decrease to cost of sales of approximately $103 million.
+Added: Based on our cost of goods sold duri ng the fiscal year ended June 30, 2022, such a change would have resulted in an increase or decrease to cost of sales of approximately $101 million.
W e attempt to offset the impact of input cost increases with a combination of cost savings initiatives and efficiencies and price increases.
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.