QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS
−Removed: We have interest rate and foreign exchange rate risk exposure but no long-term fixed rate investments or borrowings.
−Removed: Our primary interest rate risk is due to potential fluctuations of interest rates for short-term investments.
+Added: We have interest rate and foreign exchange rate risk exposure but no long-term fixed rate investments.
+Added: Our primary interest rate risk is due to potential fluctuations of interest rates for our variable rate borrowings.
Foreign exchange risk exposure arises because we market and sell our products throughout the world.
Revenues in certain foreign countries as well as certain expenses related to those revenues are transacted in currencies other than the U.S.
−Removed: Our operating results are exposed to changes in exchange rates between the U.S.
−Removed: dollar and the British pound sterling, the euro, the Mexican peso, the Brazilian real, the Chinese yuan, the Australian dollar and, to a lesser extent, the Indian rupee, the Canadian dollar, the Guatemalan quetzal, the Argentine peso, the Uruguayan peso and the Chilean peso;
−Removed: there is also exposure to a change in exchange rate between the British pound sterling and the euro.
+Added: As such, our operating results are exposed to changes in exchange rates.
When the U.S.
5 unchanged sentences
These contracts are adjusted to fair value through earnings.
−Removed: Neogen has assets, liabilities and operations outside of the U.S., located in Scotland, England, Ireland, Italy, Brazil, Mexico, Guatemala, Argentina, Uruguay, Chile, China, India, Canada and Australia where the functional currency is the British pound sterling, euro, Brazilian real, Mexican peso, Guatemalan quetzal, Argentine peso, Uruguayan peso, Chilean peso, Chinese yuan, Indian rupee, Canadian dollar and Australian dollar, respectively, and also transacts business throughout Europe in the euro.
−Removed: Our investments in foreign subsidiaries are considered to be long-term.
+Added: Neogen has assets, liabilities, and operations outside of the U.S.
+Added: Our investments in foreign subsidiaries are considered long-term.
As discussed in ITEM 1A.
4 unchanged sentences
(dollars in thousands)
−Removed: Foreign Currency — Revenue
+Added: Foreign Currency —
10% Decrease in exchange rates
−Removed: Foreign Currency — Hedges
+Added: Foreign Currency —
10% Decrease in exchange rates
1 unchanged sentence
10% Decrease in interest rates
+Added: Interest Expense
+Added: 10% Increase in interest rates
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The response to this item is submitted in a separate section of this report starting on page F-1.
−Removed: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE—NONE
+Added: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE—NONE
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.