7 unchanged sentences
Interest Rates
−Removed: 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 October 28, 2023, we had $358.7 million in borrowings under our ABL Credit Facility.
+Added: Until February 4, 2025, our ABL Credit Facility bears interest at a floating rate equal to the prime rate plus 2.000% or SOFR, plus 0.100%, plus 3.000%.
+Added: As of May 4, 2024, we had $226.1 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.
−Removed: 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 October 28, 2023, the outstanding balance of the Term Loan was $50.0 million.
−Removed: A 10% change in the SOFR would not have had a material impact on our interest expense.
+Added: Our 2021 Term Loan bore interest, payable monthly, at (a) the SOFR per annum plus 2.750% for any portion that was a SOFR loan, or (b) the base rate per annum plus 2.000% for any portion that was a base rate loan.
+Added: As of the effective date of Seventh Amendment, our 2021 Term Loan was fully repaid.
+Added: The New Mithaq Term Loan requires monthly payments equivalent to interest charged at the SOFR per annum plus 4.000% per annum, with such monthly payments to Mithaq deferred until April 30, 2025.
+Added: A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
+Added: As of May 4, 2024, we had no borrowings under our Mithaq Credit Facility.
+Added: If any debt is incurred under the Mithaq Credit Facility, it shall require monthly payments equivalent to interest charged at the SOFR plus 5.000% per annum.
+Added: A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
Assets and Liabilities of Foreign Subsidiaries
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 October 28, 2023, net assets in Canada and Hong Kong amounted to $26.6 million.
+Added: As of May 4, 2024, net assets in Canada and Hong Kong amounted to $6.8 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 $0.7 million.
−Removed: All changes in the net investments in our foreign subsidiaries are recorded in other comprehensive income (loss).
−Removed: 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.
+Added: All changes in the net investments in our foreign subsidiaries are recorded in other comprehensive loss.
+Added: As of May 4, 2024, we had $3.4 million of our cash and cash equivalents held in foreign subsidiaries, of which $1.3 million was in India, $1.3 million was in China, $0.4 million was in Canada, $0.3 million was in Hong Kong, 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 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.
+Added: Assuming a 10% change in foreign currency exchange rates, the First Quarter 2024 net sales would have decreased or increased by approximately $2.0 million, and total costs and expenses would have decreased or increased by approximately $3.3 million.
Additionally, we have foreign currency denominated receivables and payables that, when settled, result in transaction gains or losses.
A 10% change in foreign currency exchange rates would not result in a significant transaction gain or loss in earnings.
−Removed: We import a vast majority of our merchandise from foreign countries, primarily Bangladesh, Ethiopia, Cambodia, Vietnam, India, Indonesia and China.
+Added: We import a vast majority of our merchandise from foreign countries, primarily Vietnam, Bangladesh, Ethiopia, Cambodia, Kenya, India, and China.
Consequently, any significant or sudden change in the political, foreign trade, financial, banking, or currency policies and practices, or the occurrence of significant labor unrest in these countries, could have a material adverse impact on our business, financial position, results of operations, and cash flows.
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.