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What changed 10-K
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
2025-02-21 compared with 2024-02-23 · 1 added, 1 removed, 18 unchanged (10% of the section changed)
16 unchanged sentences
We have not been, nor do we anticipate being exposed to, material risks due to changes in interest rates.
−Removed: As of December 29, 2023, the interest rate on our outstanding debt was based on the BSBY, plus an applicable rate depending on our leverage ratio.
+Added: As of December 27, 2024, the interest rate on our outstanding debt was based on SOFR, plus an applicable rate depending on our leverage ratio.
A hypothetical 100 basis point change in the interest rate on our outstanding debt would have resulted in a $1.3 million change to interest expense on an annualized basis.
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.