7 unchanged sentences
We do not purchase foreign exchange contracts for speculative or trading purposes.
−Removed: For additional information, see Part II, Item 8, Note 6, Fair Value Measurements and Investments, and Note 7, Derivative Instruments and Hedging Activities , of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K.
+Added: For additional information, see Part II, Item 8, Note 6, Fair Value Measurements and Investments, of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K.
We have performed sensitivity analyses for 2026 using a modeling technique that measures the change in the fair values arising from a hypothetical 10% adverse movement in the levels of foreign currency exchange rates relative to the U.S.
1 unchanged sentence
The analyses cover all of our foreign currency derivative contracts used to offset the underlying exposures.
−Removed: The foreign currency exchange rates used in performing the sensitivity analyses were based on market rates in effect at June 27, 2025.
+Added: The foreign currency exchange rates used in performing the sensitivity analyses were based on market rates in effect at July 3, 2026.
The sensitivity analyses indicated that a hypothetical 10% adverse movement in foreign currency exchange rates relative to the U.S.
−Removed: dollar would result in a foreign exchange fair value loss of $75 million at June 27, 2025.
+Added: dollar would result in a foreign exchange fair value loss of $74 million at July 3, 2026.
During 2026, 2025 and 2024, total net realized and unrealized transaction and foreign exchange contract currency gains and losses were not material to our Consolidated Financial Statements.
1 unchanged sentence
Disclosure About Interest Rate Risk
−Removed: Variable Interest Rate Risk
−Removed: We have generally held a balance of fixed and variable rate debt.
−Removed: As of June 27, 2025, our variable rate debt outstanding consisted of our Term Loan A-3, which is based on various index rates as discussed further in Note 8, Debt , of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K.
−Removed: As of June 27, 2025, the outstanding balance on our Term Loan A-3 was $1.65 billion, and a 1% increase in the variable rate of interest would increase annual interest expense by $16 million.
+Added: Interest Rate Risk
+Added: We have historically held a balance of fixed and variable rate debt.
+Added: As of July 3, 2026, our variable rate debt outstanding consisted of borrowings under our Revolving Credit Facility, which are based on index rates as discussed further in Note 7, Debt , of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K.
+Added: As of July 3, 2026, the outstanding balance on our Revolving Credit Facility was $350 million, and a 1% increase in the variable rate of interest would increase annual interest expense by $4 million.
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.