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 October 31, 2022, a hypothetical 1.0% increase or decrease in interest rates could result in approximately $0.1 milli on of additional pre-tax charges or credit to our operating results.
+Added: Based upon the balances of the variable rate debt at October 31, 2023, a hypothetical 1.0% increase or decrease in interest rates could result in approximately $0.2 million of additional pre-tax charges or credit to our operating results.
This sensitivity pertains primarily to our outstanding revolving credit facility borrowings outstanding under the Credit Facility as of October 31, 2023.
3 unchanged sentences
There were no derivatives outstanding as of October 31, 2023 or 2022.
−Removed: 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 consolidated statements of income.
−Removed: 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.
Commodity Price Risk
12 unchanged sentences
We have begun implementing additional programs for other raw materials to facilitate more accurate pricing and reduce our exposure to changing material costs when necessary, however these are also subject to timing lags.
−Removed: While we maintain surcharges and other adjusters to manage our exposure to changes in the prices of our critical raw materials, we use several
−Removed: commodities in our business that are not covered by contractual surcharges or adjusters for which pricing can fluctuate, including PVC compound micro ingredients, silicone and other inputs.
+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 PVC compound micro ingredients, silicone and other inputs.
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.