2 unchanged sentences
Other than as noted below, our exposure related to market risk has not changed materially since June 27, 2021.
−Removed: All of the potential changes noted below are based on sensitivity analysis performed on our financial position as of December 26, 2021.
+Added: All of the potential changes noted below are based on sensitivity analysis performed on our financial position as of March 27, 2022.
Actual results may differ materially.
6 unchanged sentences
Market changes reflect immediate hypothetical parallel shifts in the yield curve of plus or minus 50 basis points (“BPS”), 100 BPS, and 150 BPS with a minimum interest rate of zero BPS.
−Removed: The hypothetical fair values as of December 26, 2021, were as follows:
+Added: The hypothetical fair values as of March 27, 2022, were as follows:
Valuation of Securities
1 unchanged sentence
Decrease of X Basis Points Fair Value
−Removed: December 26, 2021 Valuation of Securities
+Added: March 27, 2022 Valuation of Securities
Given an Interest Rate
3 unchanged sentences
Corporate notes and bonds $ 161,841 $ 161,253 $ 160,662 $ 160,072 $ 159,481 $ 158,890 $ 158,299
−Removed: Mortgage backed securities - commercial 4,341 4,330 4,313 4,293 4,574 4,255 4,236
−Removed: Total $ 307,091 $ 307,012 $ 306,658 $ 305,970 $ 305,518 $ 304,467 $ 303,715
We mitigate default risk by investing in high credit quality securities and by positioning our portfolio to respond appropriately to a significant reduction in a credit rating of any investment issuer or guarantor.
4 unchanged sentences
Potential fluctuations in the price of each security in the portfolio of plus or minus 10%, 15%, or 25% were selected based on potential near-term changes in those security prices.
−Removed: The hypothetical fair values as of December 26, 2021, were as follows:
+Added: The hypothetical fair values as of March 27, 2022, were as follows:
Valuation of Securities
1 unchanged sentence
in Stock Price Fair Value
−Removed: December 26, 2021 Valuation of Securities
+Added: March 27, 2022 Valuation of Securities
Given an X Increase
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.