5 unchanged sentences
Depending upon the specific type of borrowing, borrowings under the Credit Agreement bear interest based on either (a) the prime rate, (b) the Federal Reserve Bank of New York rate plus 0.5% or (c) the London Interbank Offered Rate, plus 1.25%.
−Removed: As of March 28, 2020 and during the entire 2020 first quarter, the Company had no borrowings outstanding under the Credit Agreement.
+Added: As of June 27, 2020 and during the entire 2020 second quarter, the Company had no borrowings outstanding under the Credit Agreement.
Long-term investments, all of which are available-for-sale
1 unchanged sentence
Treasury obligations having maturities of up to five years.
−Removed: Assuming that the long-term portion of investments remains at $82,798,000, the balance at March 28, 2020, a hypothetical increase or decrease in interest rates of 100 basis points would not have a material impact on future earnings on an annualized basis.
+Added: Assuming that the long-term portion of investments remains at $84,394,000, the balance at June 27, 2020, a hypothetical increase or decrease in interest rates of 100 basis points would not have a material impact on future earnings on an annualized basis.
Short-term investments consist of short-term investment-grade instruments and the current maturities of investment-grade corporate bonds and U.S.
5 unchanged sentences
Transactional gains and losses arising from receivable and payable balances, including intercompany balances, in the normal course of business that are denominated in a currency other than the functional currency of the operation are recorded in the statements of income when they occur.
−Removed: The assets held at the Company’s Canadian and Mexican subsidiaries at March 28, 2020 were collectively, as translated to U.S.
−Removed: dollars, less than 4% of total consolidated assets.
+Added: The assets held at the Company’s Canadian and Mexican subsidiaries at June 27, 2020 were collectively, as translated to U.S.
+Added: dollars, approximately 3% of total consolidated assets.
Accordingly, translation gains or losses of 25% or less related to the Canadian and Mexican operations would not be material.
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.