6 unchanged sentences
These programs utilize futures, swaps, and options contracts and are accounted for as cash flow hedges.
−Removed: The fair value of the Company’s cash flow commodity contracts as of January 28, 2024 was $(10.5) million, compared to $(17.1) million as of October 29, 2023.
+Added: The fair value of the Company’s cash flow commodity contracts as of April 28, 2024 was $0.3 million, compared to $(17.1) million as of October 29, 2023.
The Company measures its market risk exposure on its cash flow commodity contracts using a sensitivity analysis, which considers a hypothetical 10 percent change in the market prices.
−Removed: A 10 percent decrease in the market price would have negatively impacted the fair value of the Company's cash flow commodity
−Removed: contracts as of January 28, 2024 by $25.4 million, which in turn would lower the Company's future cost on purchased commodities by a similar amount.
+Added: A 10 percent decrease in the market price would have negatively impacted the fair value of the Company’s cash flow commodity contracts as of April 28, 2024 by $28.2 million, which in turn would lower the Company’s future cost on purchased commodities by a similar amount.
Interest Rate Risk :
The Company is subject to interest rate risk primarily from changes in fair value of long-term fixed rate debt.
−Removed: As of January 28, 2024, the Company’s long-term debt had a fair value of $2.8 billion compared to $2.7 billion as of October 29, 2023.
+Added: As of April 28, 2024, the Company’s long-term debt had a fair value of $3.3 billion compared to $2.7 billion as of October 29, 2023.
The Company measures its market risk exposure of long-term fixed rate debt using a sensitivity analysis, which considers a 10 percent change in interest rates.
−Removed: A 10 percent decrease in interest rates would have positively impacted the fair value of the Company’s long-term debt as of January 28, 2024 by $76.9 million.
+Added: A 10 percent decrease in interest rates would have positively impacted the fair value of the Company’s long-term debt as of April 28, 2024 by $83.6 million.
A 10 percent increase would have negatively impacted the long-term debt by $77.9 million.
1 unchanged sentence
The fair values of certain assets are subject to fluctuations in foreign currency exchange rates.
−Removed: The Company's net asset position in foreign currencies as of January 28, 2024 and October 29, 2023 was $1.1 billion, with most of the exposure existing in Indonesian rupiah, Chinese yuan, and Brazilian real.
+Added: The Company’s net asset position in foreign currencies as of April 28, 2024 and October 29, 2023 was $1.1 billion, with most of the exposure existing in Chinese yuan, Indonesian rupiah, and Brazilian real.
The Company currently does not use market risk sensitive instruments to manage this risk.
1 unchanged sentence
The Company has corporate-owned life insurance policies classified as trading securities as part of a rabbi trust to fund certain supplemental executive retirement plans and deferred income plans.
−Removed: As of January 28, 2024, the balance of these securities totaled $199.7 million compared to $188.2 million as of October 29, 2023.
+Added: As of April 28, 2024, the balance of these securities totaled $202.1 million compared to $188.2 million as of October 29, 2023.
The rabbi trust is invested primarily in fixed income funds.
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.