2 unchanged sentences
Our financial results are affected by changes in foreign exchange rates and economic conditions in foreign countries in which we operate.
−Removed: Our primary overseas markets are in Europe and Asia, thus exposing us to exchange rate risk from fluctuations in the euro, the Chinese renminbi, the British pound, the Japanese yen, the Korean won and certain other currencies.
+Added: Our primary overseas markets are in Europe and Asia, thus exposing us to exchange rate risk from fluctuations in the euro, the Chinese renminbi, the British pound, the Japanese yen, the South Korean won and certain other currencies.
We seek to mitigate exposure to variability in currency exchange rates, when possible, through the use of natural hedges, whereby purchases and sales in the same foreign currency and with similar maturity dates offset one another.
4 unchanged sentences
In 2024, a 10% strengthening of the U.S.
−Removed: dollar relative to other currencies would have resulted in a decrease to net sales of approximately $41 million, while a 10% weakening of the U.S.
−Removed: dollar relative to other currencies would have resulted in an increase to net sales of approximately $51 million.
−Removed: The impacts to net income in either scenario would have been less than $1 million.
+Added: dollar relative to other currencies would have resulted in a decrease to net sales and net income of approximately $8.6 million and $4.1 million, respectively, while a 10% weakening of the U.S.
+Added: dollar relative to other currencies would have resulted in an increase to net sales and net income of approximately $10.5 million and $4.9 million, respectively.
These impacts are not reflective of the effects of our foreign currency forward contracts.
• Interest Rate Risk
−Removed: As of December 31, 2023, we had $30.0 million in borrowings outstanding under our revolving credit facility.
+Added: As of December 31, 2024, we had no borrowings outstanding under our revolving credit facility.
The interest charged on these borrowings fluctuates with movements in the benchmark SOFR.
−Removed: As of December 31, 2023, the interest rate on our revolving credit facility was 7.10%, and a 100 basis point increase in SOFR would have increased the amount of interest expense by approximately $1.6 million for the year ended December 31, 2023.
+Added: As of December 31, 2024, the interest rate on our revolving credit facility was 6.30%, and a 100-basis point increase in SOFR would have increased the amount of interest expense by an immaterial amount for the year ended December 31, 2024.
• Commodity Risk
7 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.