1 unchanged sentence
In the ordinary course of business, we are subject to interest rate, currency, and commodity risks.
−Removed: Information related to these risks and our management of these exposures is included in Part II, Item 7A, “Quantitative and Qualitative Disclosures about Market Risk,” in our Annual Report on Form 10-K for the year ended March 31, 2022, which was filed with the Securities and Exchange Commission on May 31, 2022.
+Added: Information related to these risks and our management of these exposures is included in Part II, Item 7A, “Quantitative and Qualitative Disclosures about Market Risk,” in our Annual Report on Form 10-K for the year ended March 31, 2022, which was filed with the SEC on May 31, 2022.
Our exposures to market risks have not changed materially since March 31, 2022.
Fluctuations in currency rates could affect our revenues, cost of revenues and income from operations and could result in currency exchange gains and losses.
−Removed: During the first quarter of fiscal 2023, we entered into forward currency contracts in order to hedge a portion of our expected euro denominated earnings against our reporting currency, the U.S.
+Added: During the second quarter of fiscal 2023, we entered into forward currency contracts in order to hedge a portion of our expected euro denominated earnings against our reporting currency, the U.S.
These currency exchange contracts will mature during fiscal 2023.
4 unchanged sentences
We do not use derivative financial instruments for speculative purposes.
−Removed: At June 30, 2022, we held foreign currency forward contracts to sell 34.9 million euros.
+Added: At September 30, 2022, we held foreign currency forward contracts to buy 28.5 million British pounds sterling;
+Added: and to sell 100.0 million Mexican pesos, and to sell 78.8 million euros.
We are dependent on basic raw materials, sub-assemblies, components, and other supplies used in our operations.
3 unchanged sentences
We may also enter into commodity swap contracts to hedge price changes in a certain commodity that impacts raw materials included in our cost of revenues.
−Removed: At June 30, 2022, we held commodity swap contracts to buy 601.2 thousand pounds of nickel.
+Added: At September 30, 2022, we held commodity swap contracts to buy 400.8 thousand 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.