4 unchanged sentences
As of March 31, 2026, we had $1,907.8 million in fixed rate senior notes outstanding.
−Removed: As of March 31, 2025, we had $34.8 million in outstanding borrowings under our Credit Agreement which are exposed to changes in interest rates.
+Added: As of March 31, 2026, we had $37.8 million in outstanding borrowings under our Revolving Credit Agreement which are exposed to changes in interest rates.
Based upon our debt structure at March 31, 2026, a hypothetical 100 basis point increase in floating interest rates would increase annual interest expense by approximately $0.4 million.
12 unchanged sentences
We enter into foreign currency forward contracts to hedge monetary assets and liabilities denominated in foreign currencies, including intercompany transactions.
+Added: We may also hold foreign currency forward contracts to hedge a portion of our expected non-U.S.
+Added: dollar denominated earnings against our reporting currency, the U.S.
We do not use derivative financial instruments for speculative purposes.
−Removed: At March 31, 2025, we held foreign currency forward contracts to buy 44.0 million British pounds sterling and 15.0 million euros, and to sell 13.0 million Australian dollars.
+Added: At March 31, 2026, we held foreign net currency forward contracts to buy 210.0 million Mexican pesos, and to sell 4.0 million Australian dollars and 7.0 million New Zealand dollars.
COMMODITY RISK
9 unchanged sentences
We may also enter into commodity swap contracts to hedge price changes in commodities that impact raw materials included in our Cost of revenues.
−Removed: At March 31, 2025, we held commodity swap contracts to buy 592.4 thousand pounds of nickel.
+Added: At March 31, 2026, we held commodity swap contracts to buy 0.6 million pounds of nickel.
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.