3 unchanged sentences
Our major market risk relates to our secured debt.
−Removed: Our revolving credit facility, term loan and equipment term loan are secured by substantially all of our assets.
−Removed: The interest rates applicable to our revolving credit facility and term loans fluctuate with the Wells Fargo Bank prime rate and LIBOR rates.
−Removed: There was outstanding $60.1 million in borrowings under our revolving credit facility and $10.9 million outstanding on our term loans as of June 27, 2020.
+Added: Our asset-based senior secured revolving credit facility, and equipment financing facility are secured by substantially all of our assets.
+Added: The interest rates applicable to our asset-based senior secured revolving credit facility fluctuate with LIBOR rates.
+Added: There was outstanding $90.9 million in borrowings under our asset-based senior secured revolving credit facility and $10.0 million outstanding on our equipment financing facilities as of July 3, 2021.
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Capital Resources and Liquidity” and Note 4 – “Long-Term Debt” to the Consolidated Financial Statements for additional information regarding our revolving credit facility and term loans.
−Removed: During the second quarter of fiscal year 2020, we entered into an interest rate swap contract with a notional amount of $15.0 million related to the borrowings outstanding under the revolving credit facility.
−Removed: During the second quarter of fiscal year 2020, we also entered into an interest rate swap contract with a notional amount of $11.7 million related to the borrowings outstanding under the term loan.
−Removed: As of June 27, 2020, the remaining notional amount of the interest rate swap contract related to the term loan was $11.7 million.
−Removed: Through the use of the interest rate swap, as described above, we fixed the basis on which we pay interest, thus eliminating much of our interest rate risk.
−Removed: See Note 10 – “Derivative Financial Instruments” to the Consolidated Financial Statements for additional information regarding our derivative instruments.
Foreign Currency Exchange Risk
2 unchanged sentences
Exchange rate fluctuations among other currencies used by us would directly or indirectly affect our financial results.
−Removed: We currently use Mexican peso forward contracts and swaps to hedge foreign currency fluctuations for a portion of our Mexican peso denominated expenses.
−Removed: There was $36.7 million of foreign currency forward contracts and swaps outstanding as of June 27, 2020.
−Removed: The fair value of these contracts and swaps was approximately $(0.9) million.
+Added: We currently use Mexican peso forward contracts to hedge foreign currency fluctuations for a portion of our Mexican peso denominated expenses.
+Added: There was $10.6 million of foreign currency forward contracts outstanding as of July 3, 2021.
+Added: The fair value of these contracts was approximately $3.6 million.
See Note 10 – “Derivative Financial Instruments” to the Consolidated Financial Statements for additional information regarding our derivative instruments.
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.