13 unchanged sentences
dollar, particularly the Brazil reais.
−Removed: Approximately 36% and 35% of our net sales during the three months ended November 27, 2020 and November 29, 2019, respectively, originated in reais.
+Added: Approximately 35% of our net sales during six months ended February 26, 2021 and February 28, 2020, originated in reais.
We present our condensed consolidated financial statements in U.S.
6 unchanged sentences
dollars, as is the global market for memory products.
−Removed: Accordingly, the impact of currency fluctuations to our condensed consolidated income statements is primarily to our other costs of sales (i.e., non-material components) and our operating expenses as those items are typically denominated in local currency.
−Removed: Our condensed consolidated income statements are also impacted by foreign currency gains and losses recorded in Other income (expense), net arising from transactions denominated in a currency other than the functional currency of the respective subsidiary.
+Added: Accordingly, the impact of currency fluctuations to our condensed consolidated statements of operations is primarily to our other costs of sales (i.e., non-material components) and our operating expenses as those items are typically denominated in local currency.
+Added: Our condensed consolidated statements of operations are also impacted by foreign currency gains and losses recorded in Other income (expense), net arising from transactions denominated in a currency other than the functional currency of the respective subsidiary.
These translations could significantly affect the comparability of our results between financial periods or result in significant changes to the carrying value of our assets, liabilities and equity.
As a result, changes in foreign currency exchange rates impact our reported results.
−Removed: During the three months ended November 27, 2020 and November 29, 2019, we recorded $0.6 million and ($0.9) million, respectively, of foreign exchange gains (losses).
+Added: During the six months ended February 26, 2021 and February 28, 2020, we recorded $0.2 million and $2.1 million, respectively, of foreign exchange losses.
Interest Rate Risk
−Removed: We are subject to interest rate risk in connection with our short-term debt under the Amended Credit Agreement as of November 27, 2020.
−Removed: Although we did not have any revolving balances outstanding as of November 27, 2020, the revolving facility under the Amended Credit Agreement provides for borrowings of up to $50 million that would also bear interest at variable rates.
−Removed: Assuming that we will satisfy the financial covenants required to borrow and that the revolving loans under the Amended Credit Agreement were fully drawn and other variables are held constant, each 1.0% increase in interest rates on our variable rate borrowings would result in an increase in annual interest expense and a decrease in our cash flow and income before taxes of $0.5 million per year.
+Added: We are subject to interest rate risk in connection with our short-term debt under the Amended Credit Agreement and ABL Credit Agreement as of February 26, 2021.
+Added: Although we did not have any revolving balances outstanding as of February 26, 2021, the revolving facilities under the Amended Credit Agreement and ABL Credit Agreement provide for borrowings of up to $150 million that would also bear interest at variable rates.
+Added: Assuming that we will satisfy the financial covenants required to borrow and that the revolving loans under the Amended Credit Agreement and ABL Credit Agreement were fully drawn and other variables are held constant, each 1.0% increase in interest rates on our variable rate borrowings would result in an increase in annual interest expense and a decrease in our cash flow and income before taxes of $1.5 million per year.
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.