7 unchanged sentences
The change in fair value related to contracts designated as accounting hedging instruments is initially reported as a component of AOCI and subsequently reclassified to the revenue or expense line in which the underlying transaction occurs within our Consolidated Statements of Operations.
−Removed: The change in fair value related to contracts not designated as
−Removed: accounting hedging instruments will be reflected in cost of revenue within our Consolidated Statements of Operations.
−Removed: The forward contracts are primarily denominated in Chinese yuan renminbi, Euros, Malaysian ringgit, Mexican pesos and Swiss francs.
+Added: The change in fair value related to contracts not designated as accounting hedging instruments will be reflected in cost of revenue within our Consolidated Statements of Operations.
+Added: The forward contracts are primarily denominated in Chinese yuan renminbi, Euros, Indian Rupee, Malaysian ringgit and Mexican pesos.
Based on our overall currency rate exposures as of August 31, 2021, including the derivative financial instruments intended to hedge the nonfunctional currency-denominated monetary assets and liabilities, an immediate 10% hypothetical change of foreign currency exchange rates would not have a material effect on our Consolidated Financial Statements.
3 unchanged sentences
We are exposed to interest rate risk primarily on variable rate borrowings under the Credit Facility.
−Removed: There were $349.5 million in borrowings outstanding under debt facilities with variable interest rates as of August 31, 2020 .
+Added: There were no borrowings outstanding under debt facilities with variable interest rates as of August 31, 2021.
We utilize valuation models to estimate the effects of sudden interest rate changes.
2 unchanged sentences
To manage our exposure to market risk, we use derivative financial instruments and hybrid instruments when deemed appropriate.
−Removed: We have interest rate swap agreements with a notional value of $200.0 million, with mandatory termination dates from August 15, 2020 to February 15, 2022 (the “2020 Extended Interest Rate Swaps”).
+Added: We have interest rate swap agreements with a notional value of $50 million, with a mandatory termination date of February 15, 2022 (the “2020 Extended Interest Rate Swaps”).
In addition, we have entered into interest rate swaps to offset future exposures of fluctuations in the fair value of the 2020 Extended Interest Rate Swaps.
+Added: In connection with our anticipated debt issuance, we have interest rate swaps with aggregate notional amounts of $250 million and $150 million, which expire on July 31, 2024.
See Note 11 — “Derivative Financial Instruments and Hedging Activities” to the Consolidated Financial Statements for additional information regarding our interest rate swap transactions.
We do not, and do not intend to, use derivative financial instruments for speculative or trading purposes.
−Removed: We are monitoring developments related to LIBOR;
−Removed: see “Risk Factors” for additional information.
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.