7 unchanged sentences
The fair value of these contracts of $3.8 million and $8.3 million is reflected as prepayments and other current assets and other current liabilities in the Consolidated Balance Sheets as of July 2, 2022, respectively.
−Removed: The forward contracts outstanding and not effectively closed, with a term of less than 120 days, were transacted near year end;
−Removed: therefore, the fair value of the contracts is not significant.
−Removed: As of July 3, 2021 and June 27, 2020, the notional amounts of the forward contracts that we held to purchase foreign currencies were $114.0 million and $146.4 million, respectively, and the notional amounts of forward contracts that we held to sell foreign currencies were $27.8 million and $22.0 million, respectively.
+Added: The forward contracts outstanding and not effectively closed, with a term of less than 120 days, were transacted near year end and had a fair value of $0.1 million which is reflected in other current liabilities in the Consolidated Balance Sheets as of July 2, 2022.
+Added: As of July 2, 2022 and July 3, 2021, the notional amounts of the forward contracts that we held to purchase foreign currencies were $119.1 million and $114.0 million, respectively, and the notional amounts of forward contracts that we held to sell foreign currencies were $80.5 million and $27.8 million, respectively.
The counterparties to these hedging transactions are creditworthy multinational banks.
7 unchanged sentences
However, the investments may decline in value or marketability due to changes in perceived credit quality or changes in market conditions.
−Removed: The fair values of our 2023 and 2024 Notes are subject to interest rate and market price risk due to the convertible feature of the Notes and other factors.
+Added: As of July 2, 2022, the Company’s short-term investments of $1.4 million were comprised primarily of trading securities related to the deferred compensation plan, of which $0.3 million was invested in debt securities, $1.0 million was invested in equity securities and $0.1 million was invested in money market instruments.
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+Added: The fair value of our 2029 Notes is subject to interest rate risk while the fair values of our 2023 and 2024 Notes are subject to interest rate and market price risk due to the convertible feature of the Notes and other factors.
Generally, the fair value of fixed interest rate debt will increase as interest rates fall and decrease as interest rates rise.
−Removed: The fair value of the Notes may also increase as the market price of our stock rises and decrease as the market price of our stock falls.
−Removed: Changes in interest rates and our stock price affect the fair value of the Notes but does not impact our financial position, cash flows or results of operations.
−Removed: During the fourth quarter of fiscal 2021, the closing price of our common stock exceeded 130% of the applicable conversion price of the 2024 Notes, on at least 20 of the last 30 consecutive trading days of the quarter, causing the 2024 Notes to be convertible by their holders for the period of July 1, 2021 to September 30, 2021, resulting in a reclassification of the 2024 Notes to short-term debt.
−Removed: Settlement of conversion of the 2024 Notes is in cash for the principal amount and, if applicable, cash and/or shares of our common stock for any conversion premium at our election.
−Removed: As a result, we have reclassified the $414.2 million book value of the 2024 Notes to short-term debt and reclassified the difference in the book value and the face value of $45.8 million to temporary equity from permanent equity on the Consolidated Balance Sheets.
−Removed: We are not aware of, nor do we expect, any conversion requests by holders as the market price of the 2024 Notes exceeds its conversion value.
−Removed: Based on quoted market prices, as of July 3, 2021, the fair value of the 2023 Notes was $300.7 million and the fair value of the 2024 Notes was approximately $646.9 million.
+Added: The fair value of the 2023 and 2024 Notes may also increase as the market price of our stock rises and decrease as the market price of our stock falls.
+Added: Changes in interest rates and our stock price in the case of convertible notes affect the fair value of the Notes but does not impact our financial position, cash flows or results of operations.
+Added: During the fourth quarter of fiscal 2021, the closing price of the Company’s common stock exceeded 130% of the applicable conversion price of the 2024 Notes on at least 20 of the last 30 consecutive trading days of the calendar quarter, causing the 2024 Notes to be convertible by the holders for the period of July 1, 2021 to September 30, 2021.
+Added: As a result, $456.6 million carrying value of the notes was reclassified to short-term debt as of July 3, 2021.
+Added: The Company received four requests for conversion when the conversion was opened during the first quarter of fiscal 2022.
+Added: The requests were for trivial amounts.
+Added: During fiscal 2022 the closing price of the Company’s stock did not exceed 130% of the applicable conversion price of the 2024 Notes for at least 20 of the last 30 consecutive trading days of any of the calendar quarters.
+Added: The carrying value of the 2024 Notes was reclassified to long-term debt as of October 2, 2021.
+Added: Based on quoted market prices, as of July 2, 2022, the fair value of the 2023 Notes was $73.4 million, the fair value of the 2024 Notes was $250.7 million and the fair value of the 2029 Notes was $337.5 million.
+Added: The carrying value of the 2023 Notes was $68.0 million, the carrying value of the 2024 Notes was $222.9 million and the carrying value of the 2029 Notes was $393.6 million.
Refer to “Note 11.
Debt” under Item 8 of this Annual Report on Form 10-K for more information.
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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.