9 unchanged sentences
Historically, we have not realized significant foreign currency gains or losses on such transactions.
−Removed: During fiscal 2020, 2019 and 2018, we recorded foreign currency losses of $4.1 million, $1.7 million and $3.3 million, respectively, in general and administrative expenses in the
−Removed: consolidated statements of income.
+Added: During fiscal 2021, 2020 and 2019, we recorded foreign currency losses of $2.7 million, $4.1 million and $1.7 million, respectively, in general and administrative expenses in the consolidated statements of income.
Our exposure to foreign currency exchange rates is primarily driven by fluctuations involving the following currencies — U.S.
−Removed: Dollar, Pound Sterling, Canadian Dollar, Singapore Dollar, Euro, Swiss Franc, Brazilian Real and Mexican Peso.
−Removed: Based on balances exposed to fluctuation in exchange rates between these currencies as of April 30, 2020, a 10% increase or decrease equally in the value of these currencies could result in a foreign exchange gain or loss of $13.4 million.
+Added: Dollar, Pound Sterling, Euro, Singapore Dollar, Canadian Dollar, Swiss Franc, Korean Won, Brazilian Real, and South African Rand.
+Added: Based on balances exposed to fluctuation in exchange rates between these currencies as of April 30, 2021, a 10% increase or decrease in the value of these currencies could result in a foreign exchange gain or loss of $12.0 million.
We have a program that primarily utilizes foreign currency forward contracts to offset the risks associated with the effects of certain foreign currency exposures.
−Removed: These foreign currency forward contracts are neither used for trading purposes nor are they designated as hedging instruments pursuant to ASC 815, Derivatives and Hedging .
+Added: These foreign currency forward contracts are neither used for trading purposes nor are they designated as hedging instruments pursuant to Accounting Standards Codification 815, Derivatives and Hedging .
Interest Rate Risk
−Removed: O ur exposure to interest rate risk is limited to our Revolver and borrowings against the CSV of COLI contracts.
+Added: O ur exposure to interest rate risk is limited to our Revolver, borrowings against the CSV of COLI contracts and to a lesser extent our fixed income debt securities.
As of April 30, 2021, there were no amounts outstanding under the Revolver.
2 unchanged sentences
In addition, we are required to pay the lenders a quarterly commitment fee ranging from 0.175% to 0.35% per annum on the average daily unused amount of the Revolver, based upon our consolidated net leverage ratio at such time, and fees relating to the issuance of letters of credit.
−Removed: A 100-basis point increase in LIBOR rates would have increased our interest expense by approximately $1.6 million for fiscal 2020.
During fiscal 2020, the average interest rate on current and previous term loans was 3.34%.
−Removed: The average interest rate on our previous term loan for 2019 and 2018 was 3.50% and 2.60%, respectfully.
−Removed: To mitigate the interest rate risk under our former Revolver, we entered into an interest rate swap contract in March 2017 with an initial notional amount of $129.8 million to hedge the variability to changes in cash flows attributable to interest rate risks caused by changes in interest rates related to our variable rate debt.
−Removed: We designated the swap as a cash flow hedge.
−Removed: On December 16, 2019, in conjunction with the payoff of the Prior Credit Agreement, the Company terminated the interest rate swap and recorded $0.5 million in interest expense, net.
+Added: The average interest rate on our previous term loan for 2019 was 3.50%.
We had $80.0 million and $92.3 million of borrowings against the CSV of COLI contracts as of April 30, 2021 and 2020, respectively, bearing interest primarily at variable rates.
The risk of fluctuations in these variable rates is minimized by the fact that we receive a corresponding adjustment to our borrowed funds crediting rate which has the effect of increasing the CSV on our COLI contracts.
+Added: Financial Statemen ts and Supplementary Data
+Added: See Consolidated Financial Statements beginning on page F-1 of this Annual Report on Form 10-K.
+Added: Supplemental Financial Information regarding quarterly results is contained in Note 18— Quarterly Results , in the Notes to our Consolidated Financial Statements in this Annual Report on Form 10-K.
+Added: Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
+Added: Not applicable.
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.