21 unchanged sentences
As a result, changes in foreign currency exchange rates impact our reported results.
−Removed: Approximately 24% and 36% of our net sales in the first quarters of 2022 and 2021, respectively, originated in Brazilian real.
+Added: Approximately 26% and 35% of our net sales in the first six months of 2022 and 2021, respectively, originated in Brazilian real.
We utilize foreign exchange forward contracts to mitigate foreign currency exchange rate risk associated with foreign currency-denominated assets and liabilities in Brazil.
We do not use foreign currency contracts for speculative or trading purposes.
−Removed: Based on our monetary assets and liabilities denominated in foreign currencies as of November 26, 2021 and August 27, 2021, we estimate that a 10% adverse change in exchange rates versus the U.S.
+Added: Based on our monetary assets and liabilities denominated in foreign currencies as of February 25, 2022 and August 27, 2021, we estimate that a 10% adverse change in exchange rates versus the U.S.
dollar would result in losses recorded in non-operating expense of $10.5 million and $7.7 million, respectively, to revalue these assets and liabilities.
Interest Rate Risk
−Removed: We are subject to interest rate risk in connection with our variable-rate debt under the ABL Credit Agreement and the Amended Credit Agreement.
−Removed: As of November 26, 2021, we had a revolving balance outstanding of $35 million;
−Removed: however, the ABL Credit Agreement and Amended Credit Agreement provide for borrowings of up to an aggregate of $150 million.
−Removed: Assuming that we would satisfy the financial covenants required to borrow and that the amounts available under the ABL Credit Agreement and Amended Credit Agreement were fully drawn, a 1.0% increase in interest rates would result in an increase in annual interest expense and a decrease in our cash flows of $1.5 million per year.
+Added: We are subject to interest rate risk in connection with our variable-rate debt.
+Added: As of February 25, 2022, we had $275.0 million outstanding under the 2027 TLA.
+Added: In addition, the Credit Agreement provides for borrowings of up to $250.0 million under the 2027 Revolver.
+Added: Assuming that we would satisfy the financial covenants required to borrow and that the amounts available under the 2027 Revolver were fully drawn, a 1.0% increase in interest rates would result in an increase in annual interest expense and a decrease in our cash flows of $5.3 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.