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What changed 10-K
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
2022-11-22 compared with 2021-11-23 · 3 added, 2 removed, 10 unchanged (33% of the section changed)
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: Interest Rate Risk — The Company is exposed to interest rate increases under its $150.0 million Variable Funding Notes;
−Removed: however, the Company had no outstanding borrowings under its Variable Funding Notes as of October 3, 2021.
+Added: Interest Rate Risk — We are exposed to interest rate risk on borrowings under our $150.0 million Variable Funding Notes and our $75.0 million revolving credit facility.
+Added: As of October 2, 2022, we had outstanding variable rate borrowings of $50.0 million.
+Added: A 100 basis point increase in the effective interest rate applied to these borrowings would result in additional interest expense of approximately $0.5 million on an annualized basis.
Commodity Price Risk — The Company is also exposed to the impact of commodity and utility price fluctuations.
8 unchanged sentences
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.