12 unchanged sentences
The potential impact of currency fluctuation increases as our international expansion increases.
−Removed: As of February 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: As of January 31, 2021, 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.
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.
dollar denominated monetary assets and liabilities.
−Removed: Please refer to Note 12 to our audited consolidated financial statements included in Item 8 of Part II of this report for further information, including details of the notional amounts outstanding.
+Added: Please refer to Note 15.
+Added: Derivative Financial Instruments included in Item 8 of Part II of this report for further information, including details of the notional amounts outstanding.
In the future, in an effort to reduce foreign exchange risks, we may enter into further derivative financial instruments including hedging additional currency pairs.
3 unchanged sentences
The reporting currency for our consolidated financial statements is the U.S.
−Removed: A strengthening of the U.S.
+Added: A weakening of the U.S.
dollar against the Canadian dollar results in:
• the following impacts to the consolidated statements of operations:
−Removed: a decrease in our net revenue upon translation of the sales made by our Canadian operations into U.S.
+Added: – an increase in our net revenue upon translation of the sales made by our Canadian operations into U.S.
dollars for the purposes of consolidation;
−Removed: a decrease in our selling, general and administrative expenses incurred by our Canadian operations upon translation into U.S.
+Added: – an increase in our selling, general and administrative expenses incurred by our Canadian operations upon translation into U.S.
dollars for the purposes of consolidation;
−Removed: foreign exchange revaluation gains by our Canadian subsidiaries on U.S.
+Added: – foreign exchange revaluation losses by our Canadian subsidiaries on U.S.
dollar denominated monetary assets and liabilities;
−Removed: derivative valuation losses on forward currency contracts not designated in a hedging relationship;
+Added: – derivative valuation gains on forward currency contracts not designated in a hedging relationship;
• the following impacts to the consolidated balance sheets:
−Removed: a decrease in the foreign currency translation adjustment which arises on the translation of our Canadian subsidiaries' balance sheets into U.S.
−Removed: 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 fiscal 2019 , the change in the relative value of the U.S.
−Removed: dollar against the Canadian dollar resulted in a $4.6 million increase in accumulated other comprehensive loss within stockholders' equity.
−Removed: During fiscal 2018 , the change in the relative value of the U.S.
+Added: Table o f Contents
+Added: – an increase in the foreign currency translation adjustment which arises on the translation of our Canadian subsidiaries' balance sheets into U.S.
+Added: – a decrease in the foreign currency translation adjustment from derivative valuation losses on forward currency contracts, entered into as net investment hedges of a Canadian subsidiary.
+Added: During 2020, the change in the relative value of the U.S.
+Added: dollar against the Canadian dollar resulted in a $57.0 million reduction in accumulated other comprehensive loss within stockholders' equity.
+Added: During 2019, the change in the relative value of the U.S.
dollar against the Canadian dollar resulted in a $4.6 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 fiscal 2019 would have resulted in lower income from operations of approximately $4.6 million in fiscal 2019 .
+Added: dollar against the Canadian dollar compared to the exchange rates in effect for 2020 would have resulted in lower income from operations of approximately $22.0 million in 2020.
This assumes a consistent 10% appreciation in the U.S.
3 unchanged sentences
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 facility provides us with available borrowings in an amount up to $400.0 million.
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 February 2, 2020 , aside from letters of credit of $1.8 million , we had no other borrowings outstanding under these credit facilities.
+Added: As of January 31, 2021, aside from letters of credit of $2.4 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.
15 unchanged sentences
Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and selling, general and administrative expenses as a percentage of net revenue if the selling prices of our products do not increase with these increased costs.
+Added: Table o f Contents
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.