3 unchanged sentences
These exposures may change over time as business practices evolve and could have a material adverse impact on our financial results.
−Removed: Logitech International S.A.
−Removed: | Fiscal 2025 Form 10-K | 52
Currency Exchange Rates
9 unchanged sentences
We transact business in approximately 30 currencies worldwide, of which the most significant to operations are the Euro, Chinese Renminbi, Japanese Yen, Australian Dollar, Canadian Dollar, Pound Sterling and New Taiwan Dollar.
−Removed: For the year ended March 31, 2025, approximately 49% of our sales were in non-U.S.
−Removed: denominated currencies, with 24% of our sales denominated in Euro.
−Removed: 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.
+Added: For the year ended March 31, 2026, approximately 52% of our sales were denominated in non-U.S.
+Added: currencies, with 25% of our sales denominated in Euro.
+Added: The mix of our cost 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.
Dollar and less denominated in Euro and other currencies.
1 unchanged sentence
Dollar has a more unfavorable impact on our sales compared to the favorable impact on our cost of goods sold and operating expenses, resulting in an adverse impact on our operating results.
+Added: Logitech International S.A.
+Added: | Fiscal 2026 Form 10-K | 51
+Added: Ta b le of Contents
We enter into currency forward and swap contracts to reduce the short-term effects of currency fluctuations on certain receivables or payables denominated in currencies other than the functional currencies of our subsidiaries.
3 unchanged sentences
The adverse effect as of March 31, 2026 and 2025 is after consideration of the offsetting effect of approximately $11.3 million and $12.4 million, respectively, from foreign exchange contracts in place as of such dates.
−Removed: We enter into cash flow hedge contracts to protect against exchange rate exposure of forecasted inventory purchases.
−Removed: These hedging contracts mature within approximately four months.
+Added: We enter into cash flow hedge contracts, including foreign currency forward contracts and foreign currency option contracts, to protect against exchange rate exposure of forecasted inventory purchases.
+Added: Previously, the hedge contracts covered inventory purchases within four months.
+Added: Beginning in fiscal year 2026, they cover inventory purchases up to sixteen months, with reduced coverage beyond four months.
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.
2 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.