3 unchanged sentences
The value of a financial instrument may change as a result of changes in interest rates, exchange rates, commodity prices, equity prices and other market changes.
−Removed: We are exposed to changes in interest rates and foreign currency exchange rates because we finance certain operations through variable rate debt instruments and denominate some of our transactions in foreign
+Added: We are exposed to changes in interest rates and foreign currency exchange rates because we finance certain operations through variable rate debt instruments and denominate some of our transactions in foreign currencies.
Changes in these rates may have an impact on future cash flow and earnings.
We manage these risks through normal operating and financing activities.
−Removed: During the fiscal quarter ended March 29, 2025, there have been no material changes to the information included under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Quantitative and Qualitative Disclosures about Market Risk” in our Annual Report.
+Added: During the two fiscal quarters ended June 28, 2025, there have been no material changes to the information included under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations— Quantitative and Qualitative Disclosures about Market Risk” in our Annual Report.
Interest Rate Risk
−Removed: We entered into an interest rate swap that was executed on March 10, 2023.
−Removed: The swap has an effective date of May 18, 2023 and a termination date of May 18, 2026.
−Removed: Under the terms of the swap, we fixed our SOFR borrowing rate on a notional amount of $161.0 million.
+Added: We entered into an interest rate swap that was executed on March 10, 2023 (the “2023 Interest Rate Swap”).
+Added: The 2023 Interest Rate Swap had an effective date of May 18, 2023 and a termination date of May 18, 2026.
+Added: Under the terms of the 2023 Interest Rate Swap, we fixed our SOFR borrowing rate on a notional amount of $161.0 million.
+Added: The 2023 Interest Rate Swap was not designated as a hedging instrument for accounting purposes.
+Added: Additionally, we entered into a new interest rate swap that was executed on June 4, 2025 (the “2025 Interest Rate Swap”).
+Added: As part of the 2025 Interest Rate Swap, we terminated the 2023 Interest Rate Swap prior to its May 18, 2026 termination date.
+Added: The 2025 Interest Rate Swap became effective on May 19, 2025 and has a termination date of May 18, 2027.
+Added: Under the terms of the 2025 Interest Rate Swap, we fixed our SOFR borrowing rate on a notional amount of $140.0 million.
The 2025 Interest Rate Swap is not designated as a hedging instrument for accounting purposes.
−Removed: An increase or decrease of 1% in the effective interest rate, giving effect related to interest rate swaps, as of March 29, 2025, would cause an increase or decrease to annual interest expense, net of approximately $1.3 million.
+Added: An increase or decrease of 1% in the effective interest rate, giving effect related to interest rate swaps, as of June 28, 2025, would cause an increase or decrease to annual interest expense, net of approximately $1.5 million.
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.