Quantitative and Qualitative Disclosures about Market Risk
−Removed: As of January 31, 2025, the Company had no balance outstanding under its up to$70 million revolving credit facility with PNC Bank.
+Added: As of January 31, 2026, the Company had no balance outstanding under its revolving credit facility with PNC Bank.
The PNC facility bears variable interest based on the Secured Overnight Financing Rate ("SOFR") and we are therefore subject to market risk from interest rate fluctuations.
Since we had no balance as of January 31, 2026, a hypothetical 100 basis point change in the applicable interest rates would have no impact on the interest expense incurred by the Company as of such date, but would increase our borrowing costs in other periods when we had a positive balance under the PNC facility.
−Removed: For information related to the Corporation’s long-term debt, refer to "Note 3.
+Added: For information related to the Company’s long-term debt, refer to " Note 3.
Debt " in the Notes to Consolidated Financial Statements.
10 unchanged sentences
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.