8 unchanged sentences
Our ABL Credit Facility bears interest at a floating rate equal to the prime rate or SOFR, plus a calculated spread based on our average daily excess availability under the facility.
−Removed: As of July 29, 2023, we had $347.5 million in borrowings under our ABL Credit Facility.
+Added: As of October 28, 2023, we had $358.7 million in borrowings under our ABL Credit Facility.
A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
Our Term Loan bears interest, payable monthly, at (a) the SOFR per annum plus 2.75% for any portion that is a SOFR loan, or (b) the base rate per annum plus 2.00% for any portion that is a base rate loan.
−Removed: As of July 29, 2023, the outstanding balance of the Term Loan was $50.0 million.
+Added: As of October 28, 2023, the outstanding balance of the Term Loan was $50.0 million.
A 10% change in the SOFR would not have had a material impact on our interest expense.
1 unchanged sentence
Assets and liabilities outside the United States are primarily located in Canada and Hong Kong, where our investments in our subsidiaries are considered long-term.
−Removed: As of July 29, 2023, net assets in Canada and Hong Kong amounted to $25.0 million.
+Added: As of October 28, 2023, net assets in Canada and Hong Kong amounted to $26.6 million.
A 10% increase or decrease in the Canadian and Hong Kong foreign currency exchange rates would increase or decrease the corresponding net investment by $2.7 million.
All changes in the net investments in our foreign subsidiaries are recorded in other comprehensive income (loss).
−Removed: As of July 29, 2023, we had $4.7 million of our cash and cash equivalents held in foreign subsidiaries, of which $1.7 million was in China, $1.3 million was in India, $1.0 million was in Canada, $0.5 million was in Hong Kong, and $0.2 million was held in other foreign countries.
+Added: As of October 28, 2023, we had $6.1 million of our cash and cash equivalents held in foreign subsidiaries, of which $2.0 million was in India, $1.8 million was in China, $1.6 million was in Hong Kong, $0.6 million was in Canada, and $0.1 million was held in other foreign countries.
Foreign Operations
1 unchanged sentence
As a result, fluctuations in exchange rates impact the amount of our reported sales and expenses.
−Removed: Assuming a 10% change in foreign currency exchange rates, the Second Quarter 2023 net sales would have decreased or increased by approximately $5.3 million, and total costs and expenses would have decreased or increased by approximately $7.3 million.
+Added: Assuming a 10% change in foreign currency exchange rates, the Third Quarter 2023 net sales would have decreased or increased by approximately $8.9 million, and total costs and expenses would have decreased or increased by approximately $11.1 million.
Additionally, we have foreign currency denominated receivables and payables that, when settled, result in transaction gains or losses.
3 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.