13 unchanged sentences
Historically, fluctuations in interest rates have not had a significant effect on our operating results.
−Removed: Under our 2022 Credit Agreement, loans will bear interest at our election of (a) 0.000% to 0.625% above a certain base rate (7.50% at March 31, 2025) or (b) 1.000% to 1.625% above Secured Overnight Financing Rate, approximately 4.33%
−Removed: at March 31, 2025, which are determined by the Company's credit rating.
−Removed: At March 31, 2025, there were no outstanding borrowings under our 2022 Credit Agreement.
+Added: Under our 2022 Credit Agreement, loans will bear interest at a rate of (a) 0.000% to 0.625% above an alternate base rate (6.75% at March 31, 2026) or (b) 1.000% to 1.625% above SOFR, approximately 3.66% at March 31, 2026, which rates are determined by the Company's credit rating.
+Added: At March 31, 2026, there were no borrowings under our 2022 Credit Agreement.
Foreign Currency Exchange Rate Risk
7 unchanged sentences
For the fiscal years ended March 31, 2026 and 2025, our foreign currency translation adjustment was a gain of $29.6 and a gain of $8.2, respectively.
+Added: The change in foreign currency translation adjustment was primarily driven by the weakening of the U.S.
+Added: Dollar against the British Pound.
We recognized foreign currency exchange transaction losses of $17.4, $22.6, and $28.6 for the fiscal years ended March 31, 2026, 2025, and 2024, respectively, in Interest and other, net in our Consolidated Statements of Operations.
3 unchanged sentences
We do not enter into derivative financial contracts for speculative or trading purposes.
−Removed: At March 31, 2025, we had $97.0 of forward contracts outstanding to buy foreign currencies in exchange for U.S.
−Removed: dollars and $299.8 of forward contracts outstanding to sell foreign currencies in exchange for U.S.
−Removed: dollars all of which have maturities of less than one year.
−Removed: At March 31, 2024, we had $72.2 of forward contracts outstanding to buy foreign currencies in exchange for U.S.
−Removed: dollars and $243.0 of forward contracts outstanding to sell foreign currencies in exchange for U.S.
+Added: At March 31, 2026, we had $349.2 of forward contracts outstanding to sell foreign currencies in exchange for U.S.
+Added: dollars and $140.3 of forward contracts outstanding to buy foreign currencies in exchange for U.S.
dollars, all of which have maturities of less than one year.
−Removed: For the fiscal years ended March 31, 2025, 2024 and 2023, we recorded a gain of $5.3, a gain of $5.3, and a loss of $15.1, respectively, related to foreign currency forward contracts in Interest and other, net on our Consolidated Statements of Operations.
−Removed: As of March 31, 2025 and 2024, the fair values of these outstanding forward contracts were immaterial, and were included in Accrued expenses and other current liabilities when in a loss position, or in Prepaid expenses and other when in a gain position.
+Added: At March 31, 2025, we had $299.8 of forward contracts outstanding to sell foreign currencies in exchange for U.S.
+Added: dollars and $97.0 of forward contracts outstanding to buy foreign currencies in exchange for U.S.
+Added: dollars, all of which had maturities of less than one year.
+Added: For the fiscal years ended March 31, 2026, 2025 and 2024, we recorded a loss of $5.5, a gain of $5.3, and a gain of $5.3, respectively, related to foreign currency forward contracts in Interest and other, net on our Consolidated Statements of Operations.
+Added: As of March 31, 2026 and March 31, 2025, the fair value of these outstanding forward contracts were immaterial, and were included in Accrued expenses and other current liabilities when in a loss position, or in Prepaid expenses and other when in a gain position.
The fair value of these outstanding forward contracts is estimated based on the prevailing exchange rates of the various hedged currencies as of the end of the period.
1 unchanged sentence
We believe that the counterparties to these foreign currency forward contracts are creditworthy multinational commercial banks and that the risk of counterparty nonperformance is not material.
−Removed: Notwithstanding our efforts to mitigate some foreign currency exchange rate risks, there can be no assurance that our hedging activities will adequately protect us against the risks associated with foreign currency fluctuations.
+Added: Notwithstanding our efforts to mitigate
+Added: some foreign currency exchange rate risks, there can be no assurance that our hedging activities will adequately protect us against the risks associated with foreign currency fluctuations.
For the fiscal year ended March 31, 2026, 40.8% of our revenue was generated outside the U.S.
Using sensitivity analysis, a hypothetical 10.0% increase in the value of the U.S.
−Removed: dollar against all currencies would decrease revenue by 4.0%, while a hypothetical 10% decrease in the value of the U.S.
−Removed: dollar against all currencies would increase revenue by 4.0%.
+Added: dollar against all currencies would decrease revenues by 4.0%, while a hypothetical 10.0% decrease in the value of the U.S.
+Added: dollar against all currencies would increase revenues by 4.0%.
In our opinion, a substantial portion of this fluctuation would be offset by cost of revenue and operating expenses incurred in local currency.
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.