9 unchanged sentences
As a result of our international operations, we generate a portion of our net sales and incur a portion of our expenses in currencies other than the U.S.
−Removed: dollar, particularly the Brazilian real.
+Added: dollar, such as the Japanese Yen, Malaysian Ringgit and Chinese Renminbi.
We present our consolidated financial statements in U.S.
9 unchanged sentences
As a result, changes in foreign currency exchange rates impact our reported results.
−Removed: Approximately 23%, 30% and 35% of our net sales in 2022, 2021 and 2020, respectively, originated in Brazilian real.
−Removed: We utilize foreign exchange forward contracts to mitigate foreign currency exchange rate risk associated with foreign currency-denominated liabilities in Brazil, primarily third party payables.
−Removed: We do not use foreign currency contracts for speculative or trading purposes.
Based on our monetary assets and liabilities denominated in foreign currencies as of August 25, 2023 and August 26, 2022, we estimate that a 10% adverse change in exchange rates versus the U.S.
2 unchanged sentences
We are subject to interest rate risk in connection with our variable-rate debt.
−Removed: As of August 26, 2022, we had $273.3 million outstanding under the 2027 TLA and $101.8 million outstanding for the Earnout Note.
−Removed: In addition, our Credit Agreement provides for borrowings of up to $250.0 million under the 2027 Revolver.
+Added: As of August 25, 2023, we had $551.6 million outstanding under the 2027 TLA.
+Added: In addition, our Amended Credit Agreement provides for borrowings of up to $250.0 million under the 2027 Revolver.
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 $8.0 million per year.
+Added: We had cash, cash equivalents and investments of $390.8 million as of August 25, 2023.
+Added: We maintain our cash and cash equivalents in deposit accounts, money market funds with various financial institutions and in short-duration fixed income securities.
+Added: Due to the short-term nature of these instruments, we believe that we do not have any material exposure to changes in the fair value of these investments as a result of changes in interest rates.
+Added: Increases or declines in interest rates would be expected to augment or reduce future interest income by an insignificant amount.
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.