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, 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.
+Added: Based upon the balan ces of the variable rate debt at October 31, 2024, a hypothetical 1.0% increase or decrease in interest rates could result in approximately $7.2 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, 2024.
Foreign Currency Rate Risk
−Removed: Our international operations have exposure to foreign currency rate risks, primarily due to fluctuations in the Euro, the British Pound Sterling and the Canadian Dollar.
+Added: Our international operations have exposure to foreign currency rate risks, primarily due to fluctuations in the Euro and the British Pound Sterling.
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: There were no derivatives outstanding as of October 31, 2023 or 2022.
+Added: Our outstanding forward foreign exchange contracts have a notional principal amount of $18.6 million at October 31, 2024.
+Added: Hedge accounting is not applied to our foreign exchange contracts.
+Added: During the year ended October 31, 2024 and 2023, we recognized a loss of $0.3 million and zero, respectively, related to our forward foreign exchange contracts.
+Added: The value of our forward foreign exchange contracts fluctuates based on exchange rate fluctuations against the USD and GBP.
Commodity Price Risk
4 unchanged sentences
However, there is a level of exposure to short-term volatility due to timing lags.
−Removed: We adjust the pricing of petroleum-based raw materials for the majority of our customers who purchase products using these materials.
+Added: We adjust the pricing of petroleum-based raw materials for the majority of our U.S.
+Added: customers who purchase products using these materials.
This is intended to offset the fluctuating cost of products which are highly correlated to the price of oil including butyl and other oil-based raw materials.
4 unchanged sentences
Like our vinyl extrusion business, 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.
+Added: In the Tyman business, contractual price adjustment mechanisms are in place for key commodities including stainless steel and zinc for most large U.S.
+Added: customers, but not all.
+Added: For those customers not covered by contractual mechanisms, we have successfully implemented surcharges and general price increases to share the impact of price changes with our customers.
+Added: Like our other businesses, there is exposure to short-term volatility due to a lag in the timing of implementing price increases.
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 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, polypropylene 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.