4 unchanged sentences
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 2024, we entered into forward currency contracts in order to hedge a portion of our expected euro-denominated and Mexican peso-denominated earnings against our reporting currency, the U.S.
+Added: During the second quarter of fiscal 2024, we held forward foreign currency contracts to hedge a portion of our expected non-U.S.
+Added: dollar-denominated earnings against our reporting currency, the US dollar.
These foreign currency exchange contracts will mature during fiscal 2024.
1 unchanged sentence
however, we may seek to apply hedge accounting in future scenarios.
−Removed: As a result, we may experience volatility due to (i) the timing mismatch of unrealized hedge gains or losses versus recognition of the underlying hedged earnings, and (ii) the impact of unrealized and realized hedge gains or losses being reported in selling, general and administrative expenses, whereas the offsetting economic gains and losses of the underlying hedged earnings are reported in the various line items of our Consolidated Statements of Income.
+Added: As a result, we may experience volatility due to (i) the timing mismatch of unrealized hedge gains or losses versus recognition of the underlying hedged earnings, and (ii) the impact of unrealized and realized hedge gains or losses being reported in selling, general and administrative expenses, whereas the offsetting economic gains and losses of the underlying hedged earnings are reported in the various line items of our Consolidated Statements of Income (Loss).
We also enter into foreign currency forward contracts to hedge monetary assets and liabilities denominated in foreign currencies, including inter-company transactions.
We do not use derivative financial instruments for speculative purposes.
−Removed: June 30, 2023, we held net foreign currency forward contracts to buy 29.0 million British pounds sterling and 95.5 million Mexican pesos;
−Removed: and to sell 7.0 million Singapore dollars and 51.2 million euros.
+Added: At September 30, 2023, we held net foreign currency forward contracts to buy 38.5 million British pounds sterling and 80.3 million Mexican pesos;
+Added: and to sell 17.0 million Australian dollars, 11.0 million Canadian dollars, and 31.1 million euros.
We are dependent on basic raw materials, sub-assemblies, components, and other supplies used in our operations.
1 unchanged sentence
The costs of these materials can rise suddenly and result in significantly higher costs of production.
−Removed: Where appropriate, we enter into long-term supply contracts as a basis to guarantee a reliable supply.
+Added: Where appropriate, we enter into long-term supply contracts
+Added: as a basis to guarantee a reliable supply.
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, 2023, we held commodity swap contracts to buy 564.8 thousand pounds of nickel.
+Added: At September 30, 2023, we held commodity swap contracts to buy 376.5 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.