−Removed: Quantitative and Qualitative Disclosures A bout Market Risk
+Added: Quantitative and Qualitative Disclosures About Market Risk
We are exposed to certain market risks arising from transactions we have entered into in the normal course of business.
2 unchanged sentences
The amounts recorded may be at risk if our customers’ ability to pay these obligations is negatively impacted by economic conditions.
−Removed: Our customers are typically in the oil and gas markets, including onshore and offshore oil and gas production, pipeline, refining and liquefied natural gas terminals, as well as petrochemical, electric utility and light rail traction power.
+Added: Our customers are typically in the oil and gas and petrochemical markets, which include onshore and offshore production, LNG facilities and terminals, pipelines, refineries and petrochemical plants.
+Added: Additional markets include electric utility and light rail traction power as well as mining and metals, pulp and paper and other municipal, commercial and other industrial markets.
Occasionally, our customers may include an engineering, procurement and construction (EPC) firm which may increase our market risk exposure based on the business climate of the EPC firm.
3 unchanged sentences
While such materials are typically available from numerous suppliers, commodity raw materials are subject to price fluctuations.
−Removed: We attempt to pass along such commodity price increases to our customers on a contract-by-contract basis to avoid a negative effect on profit margin.
−Removed: While we may do so in the future, we have not currently entered into any derivative contracts to hedge our exposure to commodity price risk.
+Added: We attempt to pass along such commodity price increases to our customers on a contract-by-contract basis to avoid a negative effect on our profit margin.
+Added: We have entered into a derivative contract to hedge a portion of our exposure to commodity price risk.
+Added: This contract is immaterial for Fiscal 2022.
+Added: In the future, we may enter into additional derivative contracts to further hedge our exposure to commodity price risk.
We continue to experience price volatility with some of our key raw materials and components.
2 unchanged sentences
Foreign Currency Transaction Risk
−Removed: We have foreign operations that expose us to foreign currency exchange rate risk in the British Pound Sterling, the Canadian Dollar and to a lesser extent the Mexican Peso and the Euro, among others.
+Added: We have foreign operations that expose us to foreign currency exchange rate risk in the British Pound Sterling, the Canadian Dollar and to a lesser extent the Singapore Dollar and the Euro, among others.
Amounts invested in our foreign operations are translated into U.S.
3 unchanged sentences
Additionally, expenses associated with these transactions are generally contracted and paid for in the same local currencies.
−Removed: For Fiscal 2021, our realized foreign exchange loss was $0.4 million and is included in selling, general and administrative expenses in the Consolidated Statements of Operations.
−Removed: Our accumulated other comprehensive loss, which is included as a component of stockholders’ equity, was $20.4 million as of September 30, 2021, a decrease of $4.2 million compared to September 30, 2020.
−Removed: This decrease in comprehensive loss was primarily a result of fluctuations in the currency exchange rates for the Canadian Dollar and British Pound Sterling as we remeasured the foreign operations of those divisions.
+Added: For Fiscal 2022, our realized foreign exchange gain was $0.3 million and is included in selling, general and administrative expenses in the Consolidated Statements of Operations.
+Added: Our accumulated other comprehensive loss, which is included as a component of stockholders’ equity, was $29.0 million as of September 30, 2022, an increase of $8.6 million compared to September 30, 2021.
+Added: This increase in comprehensive loss was primarily a result of fluctuations in the currency exchange rates for the Canadian Dollar and British Pound Sterling as we remeasured the foreign operations of those divisions.
We do not typically hedge our exposure to potential foreign currency translation adjustments.
6 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.