2 unchanged sentences
Interest on borrowings under our bank credit agreements are tied to prevailing domestic and foreign interest rates.
−Removed: At January 31, 2024, we had no borrowings outstanding under any of our credit facilities.
+Added: At April 30, 2024, we had no borrowings outstanding under any of our credit facilities.
Foreign Currency Exchange Risk
−Removed: In the first three months of fiscal year 2024, we derived approximately 63% of our revenues from customers located outside of the Americas, where we invoiced and received payments in several foreign currencies.
+Added: In the first six months of fiscal year 2024, we derived approximately 63% of our revenues from customers located outside of the Americas, where we invoiced and received payments in several foreign currencies.
All of our computerized machine tools and computer control systems, as well as certain proprietary service parts, are sourced by our U.S.-based engineering and manufacturing division and re-invoiced to our foreign sales and service subsidiaries, primarily in their functional currencies.
5 unchanged sentences
We do not speculate in the financial markets and, therefore, do not enter into these contracts for trading purposes.
−Removed: Forward contracts for the sale or purchase of foreign currencies as of January 31, 2024, which are designated as cash flow hedges under FASB guidance related to accounting for derivative instruments and hedging activities, were as follows (in thousands, except weighted average forward rates):
+Added: Forward contracts for the sale or purchase of foreign currencies as of April 30, 2024, which are designated as cash flow hedges under FASB guidance related to accounting for derivative instruments and hedging activities, were as follows (in thousands, except weighted average forward rates):
Contract Amount at
2 unchanged sentences
Sale Contracts:
−Removed: Feb 2024 - Jan 2025
−Removed: Feb 2024 - Jan 2025
+Added: May 2024 - Apr 2025
+Added: May 2024 - Apr 2025
Purchase Contracts:
New Taiwan Dollar
−Removed: Feb 2024 - Jan 2025
+Added: May 2024 - Apr 2025
* New Taiwan Dollars per U.S.
−Removed: Forward contracts for the sale or purchase of foreign currencies as of January 31, 2024, which were entered into to protect against the effects of foreign currency fluctuations on receivables and payables denominated in foreign currencies and are not designated as hedges under FASB guidance, were as follows (in thousands, except weighted average forward rates):
+Added: Forward contracts for the sale or purchase of foreign currencies as of April 30, 2024, which were entered into to protect against the effects of foreign currency fluctuations on receivables and payables denominated in foreign currencies and are not designated as hedges under FASB guidance, were as follows (in thousands, except weighted average forward rates):
Contract Amount at
2 unchanged sentences
Sale Contracts:
−Removed: Feb 2024 - Oct 2024
+Added: May 2024 - Oct 2024
Purchase Contracts:
New Taiwan Dollar
−Removed: Feb 2024 - Jun 2024
+Added: May 2024 - Sep 2024
* New Taiwan Dollars per U.S.
5 unchanged sentences
This forward contract matures in November 2024.
−Removed: As of January 31, 2024, we had a realized gain of $1.2 million and an immaterial amount of unrealized loss, net of tax, recorded as cumulative translation adjustments in Accumulated other comprehensive loss related to the hedging of our net investment in Euro-denominated assets.
−Removed: Forward contracts for the sale or purchase of foreign currencies as of January 31, 2024, which are designated as net investment hedges under this guidance were as follows (in thousands, except weighted average forward rates):
+Added: As of April 30, 2024, we had a realized gain of $1.2 million and an immaterial amount of unrealized gain, net of tax, recorded as cumulative translation adjustments in Accumulated other comprehensive loss related to the hedging of our net investment in Euro-denominated assets.
+Added: Forward contracts for the sale or purchase of foreign currencies as of April 30, 2024, which are designated as net investment hedges under this guidance were as follows (in thousands, except weighted average forward rates):
Contract Amount at Forward Rates in
1 unchanged sentence
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.