12 unchanged sentences
The cash flow hedge reduces the Company exposure to future interest rate fluctuation.
−Removed: For the remaining borrowings of $196.3 million, which represents approximately 20% of the Company's total debt, it is subject to future interest rate fluctuations which could potentially have a negative impact on the Company's cash flows.
−Removed: A prospective increase of 100 basis points in the interest rate applicable to the Company’s outstanding borrowings under its credit facility would result in an increase of approximately $2.0 million in annual interest expense.
+Added: After consideration of the hedge above, the remaining borrowings o f $188.8 million , which represents approximately 20% of the Company's total debt, is subject to future interest rate fluctuations which could potentially have a negative impact on the Company's cash flows.
+Added: A prospective increase of 100 basis points in the interest rate applicable to the Company’s outstanding borrowings under its credit facility would result in an increase of approximatel y $1.9 million in annual interest expense.
This exposure would be partially if not fully offset by higher interest income from the Company's investments.
1 unchanged sentence
The majority of the Company’s operations consist of manufacturing and sales activities in foreign countries.
−Removed: The Company has operations in China, France, Germany, India, Mexico, Philippines, U.K., Japan, Lithuania, Netherlands, Portugal, Singapore, South Korea, Spain, U.S., and Vietnam.
+Added: The Company has operations in China, France, Germany, India, Ireland, Mexico, Philippines, U.K., Japan, Lithuania, Netherlands, Portugal, Singapore, South Korea, Spain, U.S., and Vietnam.
During 2023, sales to customers outside the U.S.
7 unchanged sentences
Changes in foreign exchange rates could affect the Company’s sales, costs, balance sheet values and earnings.
−Removed: At December 31, 2022, the net value of the Company’s assets with exposure to foreign currency risk was approximately $198 million, with the largest exposure being a Euro denominated inter-company loan with a U.S.
+Added: At December 30, 2023, the net value of the Company’s assets with exposure to foreign currency risk was approximate ly $38 million, with the largest exposure being a Japanese Yen denominated inter-company loan with a U.S.
Dollars functional currency subsidiary.
−Removed: The reduction in earnings from a hypothetical instantaneous 10% adverse change in quot ed foreign currency spot rates applied to foreign currency sensitive asset instruments would be $20 million at December 31, 2022.
+Added: The re duction in earnings from a hypothetical instantaneous 10% adverse change in quot ed foreign currency spot rates applied to foreign currency sensitive asset instruments would be $3.8 million at December 30, 2023.
At December 30, 2023, the net value of the Company’s liabilities with exposure to foreign currency risk was $6.5 million, with the largest exposure being U.S.
−Removed: Dollar denominated inter-company loans with a Euro functional currency subsidiary.
+Added: Dollar denominated inter-company loans with a Mexican Peso functional currency subsidiary.
The reduction in earnings from a hypothetical instantaneous 10% adverse change in quoted foreign currency spot rates applied to foreign currency sensitive liability instruments would be $0.6 million at December 30, 2023.
6 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.