QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: We are only exposed to interest rate risk on borrowings under our $150.0 million variable funding notes.
−Removed: During the second quarter of 2020, we borrowed $107.9 million under the variable funding notes, which remains outstanding as of September 27, 2020.
−Removed: Based on outstanding borrowings as of September 27, 2020, an increase or decrease of 100 basis points in interest rates would impact our interest expense by approximately $1.1 million on an annualized basis.
−Removed: We are also exposed to the impact of commodity and utility price fluctuations.
+Added: Interest Rate Risk — The Company is exposed to interest rate increases under its $150.0 million Variable Funding Notes;
+Added: however, the Company had no outstanding borrowings under its Variable Funding Notes as of October 3, 2021.
+Added: Commodity Price Risk — The Company is also exposed to the impact of commodity and utility price fluctuations.
Many of the ingredients we use are commodities or ingredients that are affected by the price of other commodities, weather, seasonality, production, availability, and various other factors outside our control.
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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.