11 unchanged sentences
The Facility matures on July 30, 2023.
−Removed: At September 27, 2020, we had borrowings outstanding under the Credit Agreement of $254.9 million at a weighted-average interest rate of 2.31% per annum.
+Added: At October 3, 2021, we had $212.5 million in outstanding borrowings under the Amended Credit Agreement, which was comprised of $212.5 million under the Amended Term Loan Facility and no borrowings outstanding under the Amended Revolving Credit Facility.
+Added: The weighted-average interest rate of the outstanding borrowings during fiscal 2021 was 1.25%.
In August 2018, we entered into five interest rate swap agreements with five banks to fix the variable interest rate on $250 million of our Amended Term Loan Facility.
−Removed: The objective of these interest rate swaps was to eliminate the variability of our cash flows on the amount of interest expense we pay under our Credit Agreement.
−Removed: As of September 27, 2020, the notional principal of our outstanding interest swap agreements was $228.1 million ($45.6 million each.) Our year-to-date average effective interest rate on borrowings outstanding under the Credit Agreement, including the effects of interest rate swap agreements, at September 27, 2020, was 3.52%.
+Added: The objective of these interest rate swaps was to eliminate the variability of our cash flows on the amount of interest expense we pay under o ur Credit Agreement.
+Added: As of October 3, 2021, the notional principal of our outstanding interest swap agreements was $212.5 million ($42.5 million each.) Our y ear-to-date average effective interest rate on borrowings outstanding under the Credit Agreement, including the effects of interest rate swap agreements, at October 3, 2021, was 3.30 %.
For more information, see Note 14, “Derivative Financial Instruments” of the “Notes to Consolidated Financial Statements” in Item 8.
3 unchanged sentences
We attempt to minimize our exposure to these fluctuations by matching revenue and expenses in the same currency for our contracts.
−Removed: We reported $1.3 million of foreign currency losses in fiscal 2020 and $0.5 million of foreign currency gains in fiscal 2019 in “Selling, general and administrative expenses” on our consolidated statements of income.
+Added: We reported $1.4 million and $1.3 million of foreign currency losses in fiscal 2021 and 2020, respectively in “Selling, general and administrative expenses” on our consolidated statements of income.
We have foreign currency exchange rate exposure in our results of operations and equity primarily because of the currency translation related to our foreign subsidiaries where the local currency is the functional currency.
4 unchanged sentences
For fis cal 2021 and 2020, 29.8% and 29.6% of our consolidated revenue, respectively, was generated by our international business.
−Removed: For fiscal 2020, the effect of foreign exchange rate translation on the consolidated balance sheets was an increase in equity of $3.4 million compared to a decrease in equity of $21.1 million in fiscal 2019.
+Added: For fiscal 2021, the effect of foreign exchange rate translation on the consolidated balance sheets was an increase in equity of $30.6 million compared to an increase in equity of $3.4 million in fiscal 2020.
These amounts were recognized as an adjustment to equity through othe r comprehensive income.
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.