3 unchanged sentences
Interest Rate Risk
−Removed: Please see the Note 12- Borrowings in Notes to Consolidated Financial Statements appearing under Part I, Item 1 of this Quarterly Report on Form 10-Q, which is incorporated herein by reference, for a discussion of the Revolving Credit Facility, Term Loan Facilities and Note Purchase Agreement.
−Removed: Our Revo lving Credit Facility, Term Loan Facilities and certain other debt obligations are subject to variable rate interest which could be adversely affected by an increase in interest rates.
−Removed: As of June 28, 2024, we had an aggregate of $1.83 billion in outstanding borrowings under our Revolving Credit Facility and Term Loan Facilities.
−Removed: Interest on amounts borrowed under these a greements is subject to adjustment based on the Compa ny’s Consolidated Leverage Ratio (as defined in the credit agreements governing the Revolving Credit Facility and the Term Loan Facilities).
+Added: Please see the Note 12- Borrowings in Notes to Consolidated Financial Statements appearing under Part I, Item 1 of this Quarterly Report on Form 10-Q, which is incorporated herein by reference, for a discussion of the Revolving Credit Facility, 2021 Term Loan Facility and Note Purchase Agreement.
+Added: Our Revolving Credit Facility, 2021 Term Loan Facility and certain other debt obligations are subject to variable rate interest which could be adversely affected by an increase in interest rates.
+Added: As of December 27, 2024, we had an aggregate of $1.45 billion in outstanding borrowings under our Revolving Credit Facility and 2021 Term Loan Facility.
+Added: Interest on amounts borrowed under these agreements is subject to adjustment based on the Company’s Consolidated Leverage Ratio (as defined in the credit agreements governing the Revolving Credit Facility and the 2021 Term Loan Facility).
Depending on the Company’s Consolidated Leverage Ratio, borrowings denominated in U.S.
−Removed: dollars under the Revolving Credit Facility and the Term Loan Facilities bear interest at a SOFR rate plus a margin of between 0.975% and 1.725% or a base rate plus a margin of between 0.0% and 0.625% including applicable margins while borrowings denominated in British pounds under these respective facilities bear interest at an adjusted SONIA rate plus a margin of between 0.908% and 1.658%.
−Removed: Additionally, our Revolving Credit Facility, Term Loan Facilities and our 5.90% Bonds have interest rates subject to potential increases relating to certain ESG metrics as stipulated in the related agreements and as discussed in Note 12- Borrowings .
−Removed: However, as discussed in Note 17- Commitments and Contingencies and Derivative Financial Instrument s, we are party to swap agreements with an aggregate notional value of $746.2 million to convert the variable rate interest based liabilities associated with a corresponding amount of our debt into fixed interest rate liabilities, leaving $1.08 billion in principal amount subject to variable interest rate risk.
+Added: dollars under the Revolving Credit Facility and the 2021 Term Loan Facility bear interest at a SOFR rate plus a margin of between 0.975% and 1.725% or a base rate plus a margin of between 0.0% and 0.625% including applicable margins while borrowings denominated in British pounds under these respective facilities bear interest at an adjusted SONIA rate plus a margin of between 0.908% and 1.658%.
+Added: Additionally, our Revolving Credit Facility, 2021 Term Loan Facility and our 5.90% Bonds have interest rates subject to potential increases relating to certain ESG metrics as stipulated in the related agreements and as discussed in Note 12- Borrowings .
+Added: However, as discussed in Note 18- Commitments and Contingencies and Derivative Financial Instrument s, we are party to a swap agreement with a notional value of $200.0 million to convert the variable rate interest based liabilities associated with a corresponding amount of our debt into fixed interest rate liabilities, leaving $1.25 billion in principal amount subject to variable interest rate risk.
Additionally, during fiscal 2022, we entered into two treasury lock arrangements with an aggregate notional value of $500.0 million, which were settled in the second quarter fiscal 2023, and are disclosed in further detail in Note 18- Commitments and Contingencies and Derivative Financial Instruments.
−Removed: For the nine months ended June 28, 2024, our weighted average borrowings that are subject to floating rate exposure were approximately $1.33 billion.
−Removed: If floating interest rates had increased by 1.00%, our interest expense for the nine months ended June 28, 2024 would have increased by approximately $10.0 million.
+Added: For the three months ended December 27, 2024, our weighted average borrowings that are subject to floating rate exposure were approximately $0.96 billion.
+Added: If floating interest rates had increased by 1.00%, our interest expense for the three months ended December 27, 2024 would have increased by approximately $9.6 million.
Foreign Currency Risk
1 unchanged sentence
We follow the provisions of ASC 815, Derivatives and Hedging in accounting for our derivative contracts.
−Removed: The Company has $1,056.6 million in notional value of exchange rate sensitive instruments at June 28, 2024.
+Added: The Company has $693.4 million in notional value of exchange rate sensitive instruments at December 27, 2024.
See Note 18- Commitments and Contingencies and Derivative Financial Instruments for discussion.
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.