6 unchanged sentences
The revolving credit facility bears a commitment fee, payable in arrears, of 0.25% to 0.35%, based on the Company’s Leverage Ratio at the end of the most recent applicable fiscal quarter for which financial statements have been delivered.
−Removed: As of September 25, 2021 and during the entire 2021 third quarter, the Company had no borrowings outstanding under the Credit Agreement.
+Added: As of March 26, 2022, the weighted average interest rate on borrowings outstanding was 1.66%.
+Added: During the first quarter of 2022, the average outstanding balance under the Credit Agreement was approximately $33,077,000.
+Added: Assuming that debt levels on the Credit Agreement remain at $70,000,000, the balance at March 26, 2022, a hypothetical increase of 100 basis points in current rates provided for under the Credit Agreement is estimated to result in an increase in interest expense of $700,000 on an annualized basis.
+Added: As of December 25, 2021, the Company had no borrowings outstanding under the Credit Agreement.
Long-term investments, all of which are available-for-sale
and are carried at fair value, include primarily investment-grade bonds and asset-backed securities having maturities of up to five years.
−Removed: Assuming that the long-term portion of investments remains at $136,157,000, the balance at September 25, 2021, 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 $131,403,000, the balance at March 26, 2022, 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 asset-backed securities.
4 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 September 25, 2021 were collectively, as translated to U.S.
+Added: The assets held at the Company’s Canadian and Mexican subsidiaries at March 26, 2022 were collectively, as translated to U.S.
dollars, approximately 2% of total consolidated assets.
1 unchanged sentence
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.