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With our outstanding debt, we are exposed to various forms of market risk, including the potential losses arising from adverse changes in interest rates on our outstanding 2026 Term Loan.
−Removed: See “Note 4 – Debt” in the Notes to the Unaudited Condensed Consolidated Financial Statements for further information.
+Added: See “Note 4 – Debt” in the Notes to Unaudited Condensed Consolidated Financial Statements for further information.
A hypothetical increase or decrease in the interest rate by 1 percentage point could result in an increase or decrease in annual interest expense by approximately $6.1 million.
We maintain an investment policy that requires minimum credit ratings, diversification of credit risk and limits the long-term interest rate risk by requiring effective maturities of generally less than five years.
−Removed: We typically invest our excess cash primarily in highly liquid debt instruments of the U.S.
−Removed: government and its agencies, money market mutual funds, corporate debt securities and municipal debt securities that are classified as available-for-sale and time deposits.
−Removed: These investments are recorded on our unaudited condensed consolidated balance sheets at fair market value with their related unrealized gain or loss reflected as a component of accumulated other comprehensive income (loss) in the unaudited condensed consolidated statement of stockholders’ equity.
+Added: We typically invest our excess cash primarily in highly liquid debt instruments including money market funds and time deposits.
Investments in both fixed rate and floating rate interest earning securities carry a degree of interest rate risk.
Fixed rate securities may have their fair market value adversely impacted due to a rise in interest rates, while floating rate securities may produce less income than predicted if interest rates fall.
−Removed: There were no such investments on hand at October 28, 2023, aside from cash and cash equivalents.
+Added: There were no such investments on hand at May 4, 2024, aside from cash and cash equivalents.
Foreign Currency Exchange Risk .
15 unchanged sentences
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.