4 unchanged sentences
The largest of such costs incurred by the Company are for steel, plastics, textiles, wood particleboard and aluminum components.
−Removed: The impact from changes in all commodity prices decreased the Company's costs by approximately $5.7 million during fiscal 2025 compared to the prior year primarily due to decreased steel and aluminum costs offset in part by increased plastic costs.
+Added: The impact from changes in all commodity prices increased the Company's costs by approximately $0.9 million during fiscal 2026 compared to the prior year primarily due to increased steel costs.
The impact from changes in commodity prices decreased the Company's costs by approximately $5.7 million during fiscal 2025 as compared to fiscal 2024.
−Removed: Note that these changes include the impact of Chinese tariffs on the Company's direct material costs.
+Added: Note that these changes include the impact of tariffs on the Company's direct material costs.
The market prices for commodities will fluctuate over time and the Company acknowledges that such changes are likely to impact its costs for key direct materials and assembly components.
12 unchanged sentences
As of May 30, 2026, the Company had outstanding 18 forward currency instruments designed to offset either net asset or net liability exposure that is denominated in non-functional currencies.
−Removed: (In millions, except number of forward contracts)
+Added: (In millions of local currency,, except number of forward contracts)
Net Asset Exposure
2 unchanged sentences
Currency Number of Forward Contracts Net Exposure
−Removed: As of June 1, 2024, t he Company had outstanding 21 forward currency instruments designed to offset either net asset or net liability exposure that is denominated in non-functional currencies.
−Removed: (In millions, except number of forward contracts)
+Added: As of May 31, 2025, t he Company had outstanding 21 forward currency instruments designed to offset either net asset or net liability exposure that is denominated in non-functional currencies.
+Added: (In millions of local currency, except number of forward contracts)
Net Asset Exposure
2 unchanged sentences
Currency Number of Forward Contracts Net Exposure
−Removed: The cost of the foreign currency hedges and remeasuring all foreign currency transactions into the appropriate functional currency resulted in a net gain of $6.1 million in fiscal 2025 compared to a net gain of $3.0 million in fiscal 2024 included in net earnings.
+Added: The cost of the foreign currency hedges and remeasuring all foreign currency transactions into the appropriate functional currency resulted in a net loss of $0.9 million in fiscal 2026 compared to a net loss of $6.1 million in fiscal 2025 included in net earnings.
These amounts are included in Other expense (income), net in the Consolidated Statements of Comprehensive Income.
5 unchanged sentences
The differential paid or received on the interest rate swap agreements is recognized as an adjustment to interest expense.
+Added: As of May 30, 2026, the Company had $299.0 million of borrowings under the revolving credit facility and term loans which were not covered by the interest rate swap agreements.
+Added: Based on the Company's variable-rate debt balance outstanding at May 30, 2026, a hypothetical 100 basis point change in the applicable interest rates would have an estimated $3.0 million annual impact on the interest expense incurred by the Company.
These interest rate swap derivative instruments are held and used by the Company as a tool for managing interest rate risk.
22 unchanged sentences
As a result of the transaction, under the terms of the agreement the Company effectively will convert one month Term SOFR floating interest rate plus applicable margin to 3.950% fixed interest rate plus applicable margin as of the forward start date.
−Removed: The fair market value of the effective interest rate swap instruments was a net asset of $26.1 million and $61.7 million as of May 31, 2025, and June 1, 2024, respectively.
+Added: In February 2026, the Company entered into a forward-starting interest rate swap agreement.
+Added: The interest rate swap is for an aggregate notional amount of $200.0 million, with a forward start date of January 29, 2027, and a termination date of January 31, 2030.
+Added: The interest rate swap locked in the Company's interest rate on the forecasted outstanding borrowings of $200.0 million at 3.380% exclusive of the credit spread on the variable rate debt.
+Added: As a result of the transaction, under the terms of the agreement the Company effectively will convert one month Term SOFR floating interest rate plus applicable margin to 3.380% fixed interest rate plus applicable margin as of the forward start date.
+Added: The fair market value of the effective interest rate swap instruments was a net asset of $16.2 million and $26.1 million as of May 30, 2026, and May 31, 2025, respectively.
All cash flows related to the Company's interest rate swap instruments are denominated in U.S.
For further information, refer to Note 5 and Note 11 of the Consolidated Financial Statements.
−Removed: Expected cash outflows (notional amounts) over the next five years and thereafter related to debt instruments are as follows.
−Removed: (In millions) 2026 2027 2028 2029 2030 Thereafter Total (1)
+Added: Expected cash outflows (notional amounts) over the next five years related to debt instruments are as follows.
+Added: (In millions)
+Added: 2027 2028 2029 2030 2031 Total (1)
Long-Term Debt Instruments:
7 unchanged sentences
$ — $ — $ 150.0 $ — $ — $ 150.0
+Added: Interest rate 3.380% (2)
+Added: $ — $ — $ — $ 200.0 $ — $ 200.0
(1) Amount does not include the recorded fair value of the swap instruments.
−Removed: (2) The Company's revolving credit facility and Term Loans have a variable interest rate, but due to the interest rate swaps, the rate on $150.0 million, $75.0 million, $575.0 million and $150.0 million will be fixed at 1.91%, 2.348%, 1.65% and 3.95%, respectively.
+Added: (2) The Company's revolving credit facility and Term Loans have a variable interest rate, but due to the interest rate swaps, the rate on $150.0 million, $75.0 million, $575.0 million $150.0 million and $200.0 million will be fixed at 1.91%, 2.348%, 1.65%, 3.95% and 3.380%, respectively.
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.