8 unchanged sentences
In the normal course of business, in order to mitigate the risks of volatility in commodity markets to which we are exposed, we enter into forward purchase agreements with certain suppliers based on market prices, forward price projections and expected usage levels.
−Removed: Amounts committed under these forward purchase agreements are discussed in Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations under the section “Derivative Financial Instruments” of this Annual Report on Form 10-K.
A 1% increase in the price of the commodities used within our products and packaging would result in a reduction of our gross profit of approximately $6.0 million.
2 unchanged sentences
To manage exposure to changing interest rates, we selectively enter into interest rate swap agreements to maintain a desired proportion of fixed to variable-rate debt.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations under the section “Derivative Financial Instruments” for further information related to our interest rate swap agreements.
These interest rate swap agreements fixed a portion of the interest rate at a predictable level.
Interest expense would have been $21.0 million higher without these swaps during the fiscal year ended December 29, 2024.
−Removed: Including the effect of the interest rate swap agreements, the weighted average interest rate was 6.7% and 5.5%, respectively, as of December 31, 2023 and January 1, 2023.
+Added: Including the effect of the interest rate swap agreements, the weighted average interest rate was 5.1% and 6.7%, respectively, as of December 29, 2024 and December 31, 2023.
A 1% increase in the SOFR rate would have resulted in an additional $2.0 million of interest expense during the fiscal year 2024 based on the unhedged portion of debt.
2 unchanged sentences
We experienced no material credit losses during the fiscal years of 2024 or 2023.
−Removed: During the fiscal years ended December 31, 2023 and January 1, 2023, net bad deb t expense w as $1.2 million and $0.9 million, respectively.
−Removed: Our reserve for potential future bad debt was $2.9 million as of December 31, 2023 and $1.8 million as of January 1, 2023.
+Added: During the fiscal years ended December 29, 2024 and December 31, 2023, net bad debt expense was $0.7 million and $1.2 million, respectively.
+Added: Our reserve for potential future bad debt was $3.3 million as of December 29, 2024 and $2.9 million as of December 31, 2023.
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.