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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 JSI Revolving Credit Facility, 2026 Term Loan Facility and Note Purchase Agreement.
−Removed: Our JSI Revolving Credit Facility, 2026 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.
−Removed: As of March 27, 2026, we had an aggregate of $1.71 billion in outstanding borrowings under our JSI Revolving Credit Facility and 2026 Term Loan Facility.
+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 JSI Revolving Credit Facility and 2026 Term Loan Facility.
+Added: Our JSI Revolving Credit Facility and 2026 Term Loan Facility are subject to variable rate interest which could be adversely affected by an increase in interest rates.
+Added: As of June 26, 2026, we had an aggregate of $1.20 billion in outstanding borrowings under our JSI Revolving Credit Facility and 2026 Term Loan Facility.
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 JSI Revolving Credit Facility and the 2026 Term Loan Facility).
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Additionally, our 5.90% Bonds due 2033 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 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 $1.51 billion in principal amount subject to variable interest rate risk.
−Removed: For the six months ended March 27, 2026, our weighted average floating rate borrowings that are subject to floating rate exposure were approximately $1.21 billion.
−Removed: If floating interest rates had increased by 1.00%, our interest expense for the six months ended March 27, 2026 would have increased by approximately $6.1 million.
+Added: However, as discussed in Note 17- Commitments and Contingencies and Derivative Financial Instrument s, we are party to a swap agreement with a notional val ue of $200.0 million to conv ert the variable rate interest based liabilities associated with a corresponding amount of our debt into fixed interest rate liabilities, leaving $1.00 billion in principal amount subject to variable interest rate risk.
+Added: For the nine months ended June 26, 2026, our weighted average floating rate borrowings that are subject to floating rate exposure were approximately $1.29 billion.
+Added: If floating interest rates had increased by 1.00%, our interest expense for the nine months ended June 26, 2026 would have increased by approximately $9.7 million.
Foreign Currency Risk
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We follow the provisions of ASC 815, Derivatives and Hedging in accounting for our derivative contracts.
−Removed: The Company has $1.9 billion in notional value of exchange rate sensitive instruments at March 27, 2026.
+Added: The Company has $2.45 billion in notional value of exchange rate sensitive instruments at June 26, 2026.
In addition, on January 5, 2026, in connection with the PA Consulting Transaction, the Company entered into a foreign exchange contract with a notional value of $1.31 billion with an offsetting hedge entered into on March 12, 2026 with a notional value of $60.1 million, both of which were subsequently settled before March 27, 2026.
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.