5 unchanged sentences
Ou r 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 April 30, 2026 , a hypothetical 1.0% increase or decrease in interest rates could result in approximately $6.6 million of additional pretax charges or credit to our net income per year.
−Removed: This sensitivity pertains primarily to our outstanding revolving credit facility borrowings outstanding under the Credit Facility as of April 30, 2026.
+Added: During the third quarter of fiscal 2026, we entered into a pay-fixed, receive-floating interest rate swap agreement, based on one-month Term SOFR, to manage the variability in cash flows associated with interest payments on $175.0 million of our outstanding variable-rate borrowings.
+Added: The interest rate swap effectively converts a portion of our variable-rate debt to a fixed-rate basis for the term of the agreement.
+Added: Based upon the balances of the variable rate debt at July 31, 2026 , after giving effect to the interest rate swap agreement, a hypothetical 1.0% increase or decrease in interest rates could result in approximately $4.4 million of additional pretax charges or credit to our net income per year.
+Added: This sensitivity pertains primarily to our revolving credit facility borrowings outstanding under the Credit Facility as of July 31, 2026.
Foreign Currency Rate Risk
3 unchanged sentences
Hedge accounting is not applied to our foreign exchange contracts.
−Removed: As of April 30, 2026, we had no outstanding forward foreign exchange contracts to hedge our exposure to foreign currency fluctuations, as contracts entered into earlier in the fiscal year matured and settled during the period.
−Removed: As of April 30, 2025, we had outstanding forward foreign exchange contracts to hedge our foreign currency exposures against the U.S.
−Removed: Dollar (“USD”) to Great British Pound (“GBP”), with a notional principal amount of $1.0 million, and foreign currency exposures against the Mexican Peso (“MXN”) to USD, with a notional principal amount of $10.0 million.
−Removed: We recognized a loss of $0.3 million and a gain of $0.3 million related to our forward foreign exchange contracts during the three and six months ended April 30, 2026, respectively, and a gain of $0.5 million and $0.8 million for the comparable prior year periods.
+Added: As of July 31, 2026, we had no outstanding forward foreign exchange contracts to hedge our exposure to foreign currency fluctuations, as contracts entered into earlier in the fiscal year matured and settled during the period.
+Added: During the nine months ended July 31, 2026, we used forward foreign exchange contracts to hedge our foreign currency exposures against the Mexican Peso (“MXN”) to the U.S.
+Added: Dollar (“USD”).
+Added: During the nine months ended July 31, 2025, we used forward foreign exchange contracts to hedge our foreign currency exposures against USD to the Great British Pound (“GBP”) and MXN to USD.
+Added: Hedge accounting is not applied to our forward exchange contracts.
+Added: We recognized a gain of zero and $0.3 million related to our forward foreign exchange contracts during the three and nine months ended July 31, 2026, respectively, and a loss of $0.5 million and gain of $0.3 million for the comparable prior year periods, respectively.
The value of forward foreign exchange contracts fluctuates based on exchange rate fluctuations for currencies stated in the foreign exchange contracts.
14 unchanged sentences
customers, but not all.
−Removed: 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: 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
Like our other businesses, there is exposure to short-term volatility due to a lag in the timing of implementing price increases.
10 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.