6 unchanged sentences
Dollar may result in pricing pressure for our customers that are located outside the United States and that conduct their businesses in currencies other than the U.S.
−Removed: Such pricing pressure has caused, and could continue to cause, some of our customers to ask for discounted prices, delay purchasing decisions, consider moving to in-sourcing supply of components or migrating to lower cost alternatives.
+Added: Such pricing pressure has caused, and could continue to cause, some of our customers to ask for discounted prices, delay purchasing decisions, or consider moving to in-sourcing supply of components or migrating to lower cost alternatives.
In addition, because our business is global and some payments may be made in local currency, fluctuations in foreign currency exchange rates can impact our revenues and expenses and/or the profitability in U.S.
−Removed: Dollars of products and services that we provide in foreign markets.
+Added: Dollars of products and services that we provide or purchase in foreign markets.
We may enter into foreign currency forward and option contracts with financial institutions to protect against foreign exchange risks associated with certain existing assets and liabilities, net investments in foreign subsidiaries, and forecast purchases denominated in foreign currencies.
We may hedge portions of forecasted foreign currency exposure, typically for one to three months.
−Removed: In addition, we hold a cross-currency swap between the Euro and U.S.
+Added: In addition, we hold cross-currency swaps between the Euro and U.S.
Dollar as a net investment hedge of our acquisition of Direct Conversion.
3 unchanged sentences
Additionally, we may choose not to hedge certain foreign exchange exposures for a variety of reasons including, but not limited to, accounting considerations, the prohibitive economic cost of hedging particular exposures, or due to natural offsets among the different exposures.
−Removed: See Note 6, Financial Derivatives and Hedging Activities, of the notes to our condensed consolidated financial statements for further information.
+Added: See Note 6, Financial Derivatives and Hedging Activities, of the Notes to the Condensed Consolidated Financial Statements for further information.
Credit and Counterparty Risk
1 unchanged sentence
Our cash and cash equivalents and marketable securities may be exposed to a concentration of credit risk, and we may also be exposed to credit risk and interest rate risk to the extent that we enter into credit facilities.
−Removed: We perform ongoing credit evaluations of our customers, and we maintain what we believe to be strong credit controls in evaluating and granting customer credit, including performing ongoing evaluations of our customers’ financial condition and creditworthiness and often using letters of credit and requiring certain Industrial customers to provide a down payment.
+Added: We perform ongoing credit evaluations of our customers and we maintain what we believe to be strong credit controls in evaluating and granting customer credit, including performing ongoing evaluations of our customers’ financial condition and creditworthiness and often using letters of credit or requiring certain customers to provide a down payment.
Interest Rate Risk
Borrowings under our ABL Facility bear interest at floating interest rates.
−Removed: At July 1, 2022, we had no borrowings subject to floating interest rates.
−Removed: See Note 10, Borrowings, of the notes to our condensed consolidated financial statements for further information.
−Removed: Our exposure to interest rate risk also is related to our interest-bearing assets, primarily our cash and cash equivalents and marketable securities.
+Added: At December 30, 2022, we had no borrowings subject to floating interest rates.
+Added: See Note 10, Borrowings, of the Notes to the Condensed Consolidated Financial Statements for further information.
+Added: Our exposure to interest rate risk also relates to our interest-bearing assets, primarily our cash and cash equivalents and marketable securities.
Fixed rate securities may have their market value adversely affected due to a rise in interest rates, while floating rate securities may produce less income than expected if interest rates fall.
4 unchanged sentences
We try to protect against such volatility through various business strategies.
−Removed: During the three and nine months ended July 1, 2022, we did not have any commodity derivative instruments in place to manage our exposure to price changes.
+Added: During the three months ended December 30, 2022, we did not have any commodity derivative instruments in place to manage our exposure to price changes.
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.