3 unchanged sentences
Interest Rate Risk
−Removed: Borrowings under the revolving credit facility bear interest based on LIBOR plus 1.0%.
−Removed: As such, this debt instrument exposes us to market risk for changes in interest rates.
−Removed: There was no outstanding balance under our revolving credit facility as of May 1, 2022, other than amounts reserved for standby letters of credit in the amount of $7.1 million.
+Added: Borrowings under our revolving credit facility, the Secured Term Loan and the Unsecured Term loan bear interest based on BSBY plus 1.00%, BSBY plus 0.90% and BSBY plus 1.40%, respectively.
+Added: As such, these debt instruments expose us to market risk for changes in interest rates.
+Added: There was no outstanding balance under our revolving credit facility as of July 31, 2022 other than standby letters of credit in the amount of $7.1 million.
+Added: However, as of July 31, 2022, $25 million was outstanding under our term loans.
+Added: A 1% increase in the BSBY rate would result in an annual increase in interest expenses on our terms loans of approximately $244,000.
Raw Materials Price Risk
5 unchanged sentences
A large portion of the plywood used at one division of our Domestic Upholstery segment is Russian Birch.
−Removed: We have been able to find an alternative plywood source at a higher cost for a portion of Russian Birch and are presently looking to re-source the remaining portion, also likely at a higher cost.
+Added: We have been able to find an alternative plywood source at a higher cost.
Currency Risk
12 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.