3 unchanged sentences
Many of the ingredients we use to prepare our food, as well as our packaging materials, are commodities or are affected by the price of other commodities.
−Removed: Factors that affect the price of commodities are generally outside of our control and include foreign currency exchange rates, foreign and domestic supply and demand, inflation, weather, and seasonality.
+Added: Factors that affect the price of commodities are generally outside of our control and include foreign and domestic supply and demand, inflation, weather, seasonality and foreign currency exchange rates.
For the majority of our major ingredients, we enter into supply contracts, obligating us to purchase specified quantities.
4 unchanged sentences
Our international office in Hong Kong incurs a small portion of our operational expenses in its local currency, which are subject to foreign currency translation risk.
−Removed: Loss from operations would have decreased or increased by approximately $2.5 million and $2.1 million in 2022 and 2021, respectively, if all foreign currencies uniformly weakened or strengthened 10% relative to the U.S.
+Added: Income (loss) from operations would have decreased or increased by approximately $3.0 million and $2.5 million, respectively, in 2023 and 2022 if all foreign currencies uniformly weakened or strengthened 10% relative to the U.S.
dollar, holding other variables constant, including sales volume.
2 unchanged sentences
INTEREST RATE RISK
−Removed: We are exposed to interest rate risk through fluctuations in interest rates on our debt obligations.
+Added: We are exposed to interest rate risk through fluctuations in interest rates on certain debt obligations.
Our Revolving Credit Facility carries interest at a floating rate.
1 unchanged sentence
As of December 27, 2023, we had no outstanding borrowings under the Revolving Credit Facility.
−Removed: We are also exposed to interest rate risk through fluctuations of interest rates on our cash balances and investments.
−Removed: Our equity securities primarily consist of fixed-income and equity instruments.
+Added: We are also exposed to interest rate risk through fluctuations of interest rates on our cash and cash equivalent balances.
+Added: Our cash and cash equivalents consist primarily of money market funds and short-term, highly liquid investments that have original maturities of three months or less.
Changes in interest rates affect the interest income we earn, and therefore impact our cash flows and results of operations.
5 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.