1 unchanged sentence
Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates.
−Removed: Our market risk exposure is primarily the result of fluctuations in interest rates and foreign currency exchange rates.
+Added: Our market risk exposure is primarily the result of fluctuations in interest rates.
We do not hold or issue financial instruments for trading purposes.
2 unchanged sentences
Interest on our borrowings is based upon variable rates.
−Removed: We did not have any outstanding borrowings on our credit facility as of October 31, 2020 and November 2, 2019.
−Removed: A hypothetical 1% increase in interest rates on variable rate debt would have increased interest expense for the 39 weeks ended October 31, 2020 by approximately $3.7 million.
−Removed: Foreign currency exchange rate risk
−Removed: We are exposed to risks from foreign currency exchange rate fluctuations on the translation of our foreign operations into U.S.
−Removed: dollars and on the purchase of goods by these foreign operations that are not denominated in their local currencies.
−Removed: Our exposure to foreign currency rate fluctuations is not material to our financial condition or results of operations.
+Added: We did not have any outstanding borrowings on the credit facility as of May 1, 2021.
+Added: We had $800.0 million outstanding on the credit facility as of May 2, 2020.
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.