QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: In general, business enterprises can be exposed to market risks including fluctuations in interest rates, foreign currency exchange rates and certain commodity prices, and that can affect the cost of operating, investing and financing under those conditions.
+Added: In general, business enterprises can be exposed to market risks including fluctuations in interest rates, foreign currency exchange rates and certain commodity prices, which can affect the cost of operating, investing and financing under those conditions.
The Company believes it has moderate exposure to these risks.
5 unchanged sentences
Based upon the Company’s debt structure at December 31, 2021, a hypothetical 1% increase in these interest rates would increase interest expense by approximately $1 million and decrease the fair value of debt by approximately $283 million.
−Removed: While the Company transacts business predominantly in U.S.
+Added: While the Company transacts business principally in U.S.
dollars and most of its revenues are collected in U.S.
4 unchanged sentences
European Euro, approximately 9%;
−Removed: Canadian dollar, approximately 4%;
−Removed: and British pounds, approximately 4%.
+Added: British Pound, approximately 6% and Canadian Dollar, approximately 4%.
The primary purpose of the Company’s foreign currency hedging activities is to mitigate the foreign exchange rate exposure on the cash flows related to forecasted inventory purchases and sales.
9 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.