12 unchanged sentences
The potential impact of currency fluctuation increases as our international expansion increases.
−Removed: As of May 3, 2020 , we had certain forward currency contracts outstanding in order to hedge a portion of the foreign currency exposure that arises on translation of a Canadian subsidiary into U.S.
−Removed: We also had certain forward currency contracts outstanding in an effort to reduce our exposure to the foreign exchange revaluation gains and losses that are recognized by our Canadian and Chinese subsidiaries on U.S.
+Added: As of August 2, 2020, we had certain forward currency contracts outstanding in order to hedge a portion of the foreign currency exposure that arises on translation of a Canadian subsidiary into U.S.
+Added: We also had certain forward currency
+Added: contracts outstanding in an effort to reduce our exposure to the foreign exchange revaluation gains and losses that are recognized by our Canadian and Chinese subsidiaries on U.S.
dollar denominated monetary assets and liabilities.
18 unchanged sentences
– an increase in the foreign currency translation adjustment from derivative valuation losses on forward currency contracts, entered into as net investment hedges of a Canadian subsidiary.
−Removed: During the first quarter of fiscal 2020 , the change in the relative value of the U.S.
+Added: During the first two quarters of fiscal 2020, the change in the relative value of the U.S.
dollar against the Canadian dollar resulted in a $14.6 million increase in accumulated other comprehensive loss within stockholders' equity.
−Removed: During the first quarter of fiscal 2019 , the change in the relative value of the U.S.
+Added: During the first two quarters of fiscal 2019, the change in the relative value of the U.S.
dollar against the Canadian dollar resulted in a $4.7 million increase in accumulated other comprehensive loss within stockholders' equity.
A 10% appreciation in the relative value of the U.S.
−Removed: dollar against the Canadian dollar compared to the exchange rates in effect for the first quarter of fiscal 2020 would have resulted in additional income from operations of approximately $1.6 million in the first quarter of fiscal 2020 .
+Added: dollar against the Canadian dollar compared to the exchange rates in effect for the first two quarters of fiscal 2020 would have resulted in additional income from operations of approximately $0.1 million in the first two quarters of fiscal 2020.
This assumes a consistent 10% appreciation in the U.S.
−Removed: dollar against the Canadian dollar over the first quarter of fiscal 2020 .
+Added: dollar against the Canadian dollar over the first two quarters of fiscal 2020.
The timing of changes in the relative value of the U.S.
−Removed: dollar combined with the
−Removed: seasonal nature of our business, can affect the magnitude of the impact that fluctuations in foreign exchange rates have on our income from operations.
+Added: dollar combined with the seasonal nature of our business, can affect the magnitude of the impact that fluctuations in foreign exchange rates have on our income from operations.
Interest Rate Risk .
−Removed: Our committed revolving credit facility provides us with available borrowings in an amount up to $400.0 million in the aggregate.
+Added: Our committed revolving credit facilities provide us with available borrowings in an amount up to $700.0 million in the aggregate.
Because our revolving credit facilities bear interest at a variable rate, we will be exposed to market risks relating to changes in interest rates, if we have a meaningful outstanding balance.
−Removed: As of May 3, 2020 , aside from letters of credit of $1.8 million , there were immaterial borrowings outstanding under these credit facilities.
+Added: As of August 2, 2020, aside from letters of credit of $2.3 million, there were no borrowings outstanding under these credit facilities.
We currently do not engage in any interest rate hedging activity and currently have no intention to do so.
9 unchanged sentences
We are also exposed to credit-related losses in the event of nonperformance by the financial institutions that are counterparties to our forward currency contracts.
−Removed: The credit risk amount is our unrealized gains on our derivative instruments, based on foreign currency rates at the time of nonperformance.
+Added: The credit risk amount is
+Added: our unrealized gains on our derivative instruments, based on foreign currency rates at the time of nonperformance.
We have not experienced any losses related to these items, and we believe credit risk to be minimal.
4 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.