1 unchanged sentence
Market Risk Factors
−Removed: No material change in the Company’s market risk has occurred during the nine month period ended July 4, 2021 other than the change in interest rate risk attributable to the issuance of the new Term Loan Facility.
+Added: No material change in the Company’s market risk has occurred during the three month period ended January 2, 2022.
For additional information, refer to Note 10 – Debt and Note 12 – Derivatives to the Condensed Consolidated Financial Statement included elsewhere in the Quarterly Report and to Part II, Items 7A of the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2021.
−Removed: Interest Rate Risk
−Removed: Our Revolver Facility and and Term Loan Facility have a variable interest rates.
−Removed: If market interest rates increase, the interest rate on our variable rate debt will increase and will create higher debt service requirements, which would adversely affect our cash flow and could adversely impact our results of operations.
−Removed: The general levels of U.S., European Union interest rates and LIBOR affect interest expense.
−Removed: As of July 4, 2021, we had $499.1 million subject to variable interest rates, or 18.4% of total debt.
−Removed: Assuming an increase to market rates of 1% as of July 4, 2021, we would incur an increase to interest expense of $5.1 million.
−Removed: Our Term Loan Facility and Revolver Facility allows for the LIBO rate to be phased out and replaced with the Secured Overnight Financing Rate and therefore we do not anticipate a material impact by the expected upcoming LIBOR transition.
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.