7 unchanged sentences
Foreign currency exchange differences which arise on translation of our international subsidiaries' balance sheets into U.S.
−Removed: dollars are recorded as a foreign currency translation adjustment in accumulated other comprehensive income or loss within stockholders' equity.
+Added: dollars are recorded as other comprehensive income (loss), net of tax in accumulated other comprehensive income or loss within stockholders' equity.
We also have exposure to changes in foreign currency exchange rates associated with transactions which are undertaken by our subsidiaries in currencies other than their functional currency.
2 unchanged sentences
The potential impact of currency fluctuation increases as our international expansion increases.
−Removed: As of October 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.
+Added: As of May 1, 2022, 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 currency exchange revaluation gains and losses that are recognized by our Canadian and Chinese subsidiaries on U.S.
19 unchanged sentences
– 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 the first three quarters of 2021, the change in the relative value of the U.S.
−Removed: dollar against the Canadian dollar resulted in a $35.6 million reduction in accumulated other comprehensive loss within stockholders' equity.
−Removed: During the first three quarters of 2020, the change in the relative value of the U.S.
+Added: – net investment hedge losses from derivative valuation losses on forward currency contracts, entered into as net investment hedges of a Canadian subsidiary.
+Added: During the first quarter of 2022, the change in the relative value of the U.S.
dollar against the Canadian dollar resulted in a $11.4 million increase in accumulated other comprehensive loss within stockholders' equity.
+Added: During the first quarter of 2021, the change in the relative value of the U.S.
+Added: dollar against the Canadian dollar resulted in a $67.1 million reduction 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 foreign currency exchange rates in effect for the first three quarters of 2021 would have resulted in lower income from operations of approximately $12.3 million.
+Added: dollar against the Canadian dollar compared to the foreign currency exchange rates in effect for the first quarter of 2022 would have resulted in lower income from operations of approximately $26.6 million.
This assumes a consistent 10% appreciation in the U.S.
−Removed: dollar against the Canadian dollar over the first three quarters of 2021.
+Added: dollar against the Canadian dollar over the first quarter of 2022.
The timing of changes in the relative value of the U.S.
3 unchanged sentences
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 October 31, 2021, aside from letters of credit of $3.1 million, there were no borrowings outstanding under these credit facilities.
+Added: As of May 1, 2022, aside from letters of credit of $3.1 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.
2 unchanged sentences
We do not, and do not intend to, engage in the practice of trading derivative securities for profit.
−Removed: Our cash and cash equivalent balances are held in the form of cash on hand, bank balances, short-term deposits and treasury bills with original maturities of three months or less, and in money market funds.
+Added: Our cash and cash equivalent balances are held in the form of cash on hand, bank balances, and short-term deposits with original maturities of three months or less, and in money market funds.
We do not believe these balances are subject to material interest rate risk.
Credit Risk .
−Removed: We have cash on deposit with various large, reputable financial institutions and have invested in U.S.
−Removed: and Canadian Treasury Bills, and in AAA-rated money market funds.
+Added: We have cash on deposit with various large, reputable financial institutions and have invested in AAA-rated money market funds.
The amount of cash and cash equivalents held with certain financial institutions exceeds government-insured limits.
2 unchanged sentences
We have not experienced any losses related to these items, and we believe credit risk to be minimal.
−Removed: We seek to minimize our credit risk by entering into transactions with credit worthy and reputable financial institutions and by monitoring the credit
−Removed: standing of the financial institutions with whom we transact.
+Added: We seek to minimize our credit risk by entering into transactions with credit worthy and reputable financial institutions and by monitoring the credit standing of the financial institutions with whom we transact.
We seek to limit the amount of exposure with any one counterparty.
−Removed: Inflationary factors such as increases in the cost of our product and overhead costs may adversely affect our operating results.
−Removed: Although we do not believe that inflation has had a material impact on our financial position or results of operations for the third quarter and first three quarters of 2021, our business could be more affected by inflation in the future which could 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: Inflationary factors such as increases in the cost of our product as well as overhead costs may adversely affect our operating results.
+Added: During 2021 and the first quarter of 2022, our operating margin was impacted by higher air freight costs compared to fiscal 2020 as a result of global supply chain disruption, as well as increased wage costs.
+Added: Sustained increases in transportation costs, wages, and raw material costs, or other inflationary pressures 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, or we cannot identify cost efficiencies.
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.