5 unchanged sentences
Our outstanding debt bears interest at variable rates and accordingly is sensitive to changes in interest rates.
−Removed: Based upon the balances of the variable rate debt at July 31, 2020, a hypothetical 1.0% increase or decrease in interest rates could result in approximately $1.4 million of additional pretax charges or credit to our operating results per year.
+Added: Based upon the balances of the variable rate debt at January 31, 2021, a hypothetical 1.0% increase or decrease in interest rates could result in approximately $1.0 million of additional pretax charges or credit to our operating results per year.
This sensitivity is impacted by the amount of borrowings under our credit facilities, and amounts outstanding under finance leases.
2 unchanged sentences
From time to time, we enter into foreign exchange contracts associated with our operations to manage a portion of the foreign currency rate risk.
−Removed: Less than $0.1 million of foreign currency derivatives were included in total assets as of October 31, 2019.
−Removed: There were no corresponding foreign currency derivatives recorded on the Condensed Consolidated Balance Sheet as of July 31, 2020.
+Added: There were no corresponding foreign currency derivatives recorded on the Condensed Consolidated Balance Sheet as of October 31, 2020 or January 31, 2021.
These foreign currency derivative contracts hedge cross-border intercompany and commercial activity for our insulating glass spacer business.
−Removed: Although these derivatives hedge our exposure to fluctuations in foreign currency rates, we do not apply hedge accounting and therefore, the change in the fair value of these foreign currency derivatives is recorded directly to other income and expense in the accompanying condensed consolidated statements of income (loss).
+Added: Although these derivatives hedge our exposure to fluctuations in foreign currency rates, we do not apply hedge accounting and therefore, the change in the fair value of these foreign currency derivatives is recorded directly to other income and expense in the accompanying condensed consolidated statements of income.
To the extent the gain or loss on the derivative instrument offsets the gain or loss from the re-measurement of the underlying foreign currency balance, changes in exchange rates should have no effect.
10 unchanged sentences
As such, our long-term exposure to increases in oil-based raw material prices is significantly reduced under this surcharge program, but given the recent disruptions in the oil and gas market, we bear an obligation to repay customers for the fall in commodity price that is not reflected in the pricing of products sold to them.
−Removed: Similarly, our NA Cabinet Components business includes a surcharge provision in the majority of its customer arrangements to insulate against significant fluctuations in the price for various hardwood products used as the primary raw material for kitchen and bathroom cabinet doors.
−Removed: We are exposed to short-term volatility in wood prices due to a lag in the timing of price updates which generally could extend for up to three months.
−Removed: While we maintain surcharges and other adjusters to manage our exposure to changes in the prices of our critical raw materials, we utilize several commodities in our business that are not covered by contractual surcharges or adjusters for which pricing can fluctuate, including titanium dioxide (TiO2), silicone and other inputs.
−Removed: Further discussion of our industry risks is included within our Annual Report on Form 10-K for the year ended October 31, 2019.
+Added: In March and October 2020, we sent a notice to our customers on this to address the mismatch.
+Added: Similarly, NA Cabinet Components includes a price index provision in the majority of its customer arrangements to
+Added: insulate against significant fluctuations in the price for various hardwood products used as the primary raw material for kitchen
+Added: and bathroom cabinet doors.
+Added: Like our vinyl extrusion business, we are exposed to short-term volatility in wood prices due to a
+Added: lag in the timing of price updates which generally could extend for up to three months.
+Added: While we maintain surcharges and other adjusters to manage our exposure to changes in the prices of our critical raw materials, we use several commodities in our business that are not covered by contractual surcharges or adjusters for which pricing can fluctuate, including titanium dioxide (TiO2), silicone and other inputs.
+Added: Further discussion of our industry risks is included within our Annual Report on Form 10-K for the fiscal year ended October 31, 2020.
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.