9 unchanged sentences
dollars, Canadian dollars, and euros.
−Removed: Gains and losses arising from forward
−Removed: contracts are recognized as offsets to gains and losses resulting from the transactions being hedged.
+Added: Gains and losses arising from forward contracts are recognized as offsets to gains and losses resulting from the transactions being hedged.
We do not hold or engage in transactions involving derivative instruments for purposes other than risk management.
3 unchanged sentences
Assuming year-end borrowing levels, a 10% increase in interest rates on our variable-rate debt would have increased our annual pre-tax interest expense by $1.2 million in 2024.
−Removed: In January 2024, we borrowed $230.0 million under our revolving credit facility to fund the Key Knife and KWS acquisitions.
−Removed: As a result, we expect interest expense will increase significantly in 2024.
Currency Exchange Rates
11 unchanged sentences
The fair value of forward currency-exchange contracts is the estimated amount that we would pay or receive upon termination of the contracts.
−Removed: A 10% adverse change in year-end 2023 foreign currency exchange rates related to our foreign currency exchange contracts would have had an immaterial effect on our results of operations in 2023.
−Removed: Any adverse change related to foreign currency contracts would have been largely offset by the corresponding change in the fair value of the underlying hedged items.
+Added: Any adverse change related to the value of our foreign currency contracts will largely be offset by the corresponding change in the fair value of the underlying hedged items.
+Added: We did not engage in any material forward currency-exchange contract activity in 2024.
Financial Statements and Supplementary Data
4 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.