11 unchanged sentences
To mitigate such risk, certain subsidiaries enter into forward currency contracts.
−Removed: As of June 27, 2020 and June 29, 2019 , forward currency contracts designated as cash flow hedges with a notional amount of $586.2 million and $398.4 million , respectively, were outstanding.
+Added: As of July 3, 2021 and June 27, 2020, forward currency contracts designated as cash flow hedges with a notional amount of $61.4 million and $586.2 million, respectively, were outstanding.
As a result of the use of derivative instruments, we are exposed to the risk that counterparties to the derivative instruments will fail to meet their contractual obligations.
1 unchanged sentence
The Company also reviews the creditworthiness of our counterparties on a regular basis.
−Removed: As a result of the above considerations, we do not believe that we are exposed to any undue concentration of counterparty credit risk associated with our derivative contracts as of June 27, 2020 .
−Removed: The Company is also exposed to transaction risk from foreign currency exchange rate fluctuations with respect to various cross-currency intercompany loans.
+Added: As a result of the above considerations, we do not believe that we are exposed to any undue concentration of counterparty credit risk associated with our derivative contracts as of July 3, 2021.
+Added: The Company is also exposed to transaction risk from foreign currency exchange rate fluctuations with respect to various cross-currency intercompany loans and payables.
This primarily includes exposure to exchange rate fluctuations in the Chinese Renminbi, the British Pound Sterling and the Euro.
To manage the exchange rate risk related to these loans, the Company enters into forward currency contracts.
−Removed: As of June 27, 2020 and June 29, 2019 , the total notional values of outstanding forward foreign currency contracts related to these loans were $76.9 million and $14.5 million , respectively.
−Removed: The fair value of outstanding forward currency contracts included in current assets at June 27, 2020 and June 29, 2019 was $2.9 million and $1.1 million , respectively.
−Removed: The fair value of outstanding foreign currency contracts included in current liabilities at June 27, 2020 and June 29, 2019 was $1.7 million and $4.9 million , respectively.
+Added: As of July 3, 2021 and June 27, 2020, the total notional values of outstanding forward foreign currency contracts related to these loans were $248.2 million and $76.9 million, respectively.
+Added: The fair value of outstanding forward currency contracts included in current assets at July 3, 2021 and June 27, 2020 was $0.3 million and $2.9 million, respectively.
+Added: The fair value of outstanding foreign currency contracts included in current liabilities at July 3, 2021 and June 27, 2020 was $1.2 million and $1.7 million, respectively.
The fair value of these contracts is sensitive to changes in foreign currency exchange rates.
A sensitivity analysis of the effects of foreign exchange rate fluctuations on the fair values of our derivative contracts was performed to assess the risk of loss.
−Removed: As of June 27, 2020 , a 10% devaluation of the U.S.
+Added: As of July 3, 2021, a 10% devaluation of the U.S.
Dollar against the exchange rates for foreign currencies under contract would result in an immaterial impact on derivative contract fair values.
8 unchanged sentences
The Company is exposed to changes in interest rates related to the fair value of the Senior Notes.
+Added: At July 3, 2021, the fair value of the 2025 Senior Notes, 2022 Senior Notes and 2027 Senior Notes was approximately $652 million, $407 million and
+Added: $659 million, respectively.
At June 27, 2020, the fair value of the 2025 Senior Notes, 2022 Senior Notes and 2027 Senior Notes was approximately $577 million, $393 million and $565 million, respectively.
−Removed: At June 29, 2019, the fair value of the 2025 Senior Notes, 2022 Senior Notes and 2027 Senior Notes
−Removed: was approximately $630 million , $399 million and $606 million , respectively.
These fair values are based on external pricing data, including available quoted market prices of these instruments, and consideration of comparable debt instruments with similar interest rates and trading frequency, among other factors, and are classified as Level 2 measurements within the fair value hierarchy.
7 unchanged sentences
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.