12 unchanged sentences
The potential impact of currency fluctuation increases as our international expansion increases.
−Removed: As of April 30, 2023, 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 July 30, 2023, 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.
20 unchanged sentences
– net investment hedge losses from derivative valuation losses on forward currency contracts, entered into as net investment hedges of a Canadian subsidiary.
−Removed: During the first quarter of 2023, the change in the relative value of the U.S.
−Removed: dollar against the Canadian dollar resulted in a $22.8 million increase in accumulated other comprehensive loss within stockholders' equity.
−Removed: During the first quarter of 2022, the change in the relative value of the U.S.
+Added: During the first two quarters of 2023, the change in the relative value of the U.S.
+Added: dollar against the Canadian dollar resulted in a $9.8 million reduction in accumulated other comprehensive loss within stockholders' equity.
+Added: During the first two quarters of 2022, the change in the relative value of the U.S.
dollar against the Canadian dollar resulted in a $3.8 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 foreign currency exchange rates in effect for the first quarter of 2023 would have resulted in lower income from operations of approximately $83.9 million.
+Added: dollar against the Canadian dollar compared to the foreign currency exchange rates in effect for the first two quarters of 2023 would have resulted in lower income from operations of approximately $51.8 million.
This assumes a consistent 10% appreciation in the U.S.
−Removed: dollar against the Canadian dollar over the first quarter of 2023.
+Added: dollar against the Canadian dollar over the first two quarters of 2023.
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 April 30, 2023, aside from letters of credit of $6.5 million, there were no borrowings outstanding under these credit facilities.
+Added: As of July 30, 2023, aside from letters of credit of $6.4 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.
5 unchanged sentences
Credit Risk .
−Removed: We have cash on deposit with various large, reputable financial institutions and have invested in AAA-rated money market funds, which include investments in government bonds.
+Added: We have cash on deposit with what we believe are various large, reputable financial institutions and have invested in AAA-rated money market funds, which include investments in government bonds.
The amount of cash and cash equivalents held with certain financial institutions exceeds government-insured limits.
5 unchanged sentences
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.
−Removed: During 2022 and the first quarter of 2023, our operating margin was impacted by increased wage rates.
+Added: During 2022 and the first half of 2023, our operating margin was impacted by increased wage rates.
During the first half of 2022, our gross margin was impacted by higher air freight costs as a result of global supply chain disruption.
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.