22 unchanged sentences
The reporting currency for our consolidated financial statements is the U.S.
−Removed: A weakening of the U.S.
+Added: A strengthening of the U.S.
dollar against the Canadian dollar results in:
• the following impacts to the consolidated statements of operations:
−Removed: – an increase in our net revenue upon translation of the sales made by our Canadian operations into U.S.
+Added: – a decrease in our net revenue upon translation of the sales made by our Canadian operations into U.S.
dollars for the purposes of consolidation;
−Removed: – an increase in our selling, general and administrative expenses incurred by our Canadian operations upon translation into U.S.
+Added: – a decrease 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 losses by our Canadian subsidiaries on U.S.
+Added: – foreign currency exchange revaluation gains by our Canadian subsidiaries on U.S.
dollar denominated monetary assets and liabilities;
−Removed: – derivative valuation gains on forward currency contracts not designated in a hedging relationship;
+Added: – derivative valuation losses on forward currency contracts not designated in a hedging relationship;
• the following impacts to the consolidated balance sheets:
−Removed: – 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 which arises on the translation of our Canadian subsidiaries' balance sheets into U.S.
– net investment hedge losses from derivative valuation losses on forward currency contracts, entered into as net investment hedges of a Canadian subsidiary.
2 unchanged sentences
During 2021, the change in the relative value of the U.S.
−Removed: dollar against the Canadian dollar resulted in a $57.0 million reduction in accumulated other comprehensive loss within stockholders' equity.
+Added: dollar against the Canadian dollar resulted in a $3.4 million increase in accumulated other comprehensive loss within stockholders' equity.
A 10% appreciation in the relative value of the U.S.
2 unchanged sentences
dollar against the Canadian dollar over the fiscal year.
−Removed: The timing of changes in the relative value of the U.S.
+Added: of changes in the relative value of the U.S.
dollar combined with the seasonal nature of our business, can affect the magnitude of the impact that fluctuations in foreign currency exchange rates have on our income from operations.
15 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 standing of the financial institutions with whom we transact.
+Added: We seek to minimize our credit risk by entering into transactions with investment grade 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: During 2021 our product margin was impacted by higher air freight costs compared to 2020 as a result of global supply chain disruption.
−Removed: Sustained air freight cost increases 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.
+Added: Inflationary factors such as increases in the cost of our product, as well as overhead costs and capital expenditures may adversely affect our operating results.
+Added: During 2021 and the first half of 2022, our operating margin was impacted by higher air freight costs compared to fiscal 2021 and 2020 as a result of global supply chain disruption, as well as increased wage rates.
+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 operating margin 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.