14 unchanged sentences
We transact business in approximately 30 currencies worldwide, of which the most significant to operations are the Euro, Chinese Renminbi, Australian Dollar, Canadian Dollar, Japanese Yen, Pound Sterling and New Taiwan Dollar.
−Removed: For the three months ended September 30, 2024, approximately 49% of our sales were in non-U.S.
−Removed: denominated currencies, with 24% of our sales denominated in Euro.
+Added: For the three months ended December 31, 2024, approximately 52% of our sales were denominated in non-U.S.
+Added: currencies, with 27% of our sales denominated in Euro.
The mix of our costs of goods sold and operating expenses by currency are significantly different from the mix of our sales, with a larger portion denominated in U.S.
5 unchanged sentences
The gains or losses on these contracts are recognized in earnings based on the changes in fair value.
−Removed: If an adverse 10% foreign currency exchange rate change had been applied to total monetary assets and liabilities denominated in currencies other than the functional currencies at the balance sheet dates, it would have resulted in an adverse effect on income before income taxes of approximately $16.7 million and $19.1 million as of September 30, 2024 and March 31, 2024, respectively.
−Removed: The adverse effect as of September 30, 2024 and March 31, 2024 is after consideration of the offsetting effect of approximately $9.2 million and $6.9 million, respectively, from foreign exchange contracts in place as of such dates.
+Added: If an adverse 10% foreign currency exchange rate change had been applied to total monetary assets and liabilities denominated in currencies other than the functional currencies at the balance sheet dates, it would have resulted in an adverse effect on income before income taxes of approximately $16.8 million and $19.1 million as of December 31, 2024 and March 31, 2024, respectively.
+Added: The adverse effect as of December 31, 2024 and March 31, 2024 is after consideration of the offsetting effect of approximately $10.7 million and $6.9 million, respectively, from foreign exchange contracts in place as of such dates.
We enter into cash flow hedge contracts to protect against exchange rate exposure of forecasted inventory purchases.
1 unchanged sentence
Gains and losses in the fair value of the effective portion of the hedges are deferred as a component of AOCI until the hedged inventory purchases are sold, at which time the gains or losses are reclassified to cost of goods sold.
−Removed: Dollar had weakened by 10%, the amount recorded in AOCI related to our foreign exchange contracts before tax effect as of September 30, 2024 and March 31, 2024 would have been approximately $14.4 million and $9.0 million lower, respectively.
+Added: Dollar had weakened by 10%, the amount recorded in AOCI related to our foreign exchange contracts before tax effect as of December 31, 2024 and March 31, 2024 would have been approximately $12.4 million and $9.0 million lower, respectively.
The change in the fair value recorded in AOCI would be expected to offset a corresponding foreign currency change in cost of goods sold when the hedged inventory purchases are sold.
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.