7 unchanged sentences
We do not enter into any hedging activities to mitigate this foreign currency translation risk.
−Removed: subsidiary, whose functional currency is Pound Sterling, utilizes foreign currency forward contracts to limit our exposure to net asset balances held in non-functional currencies.
+Added: subsidiary, whose functional currency is Pounds Sterling, utilizes foreign currency forward contracts to limit our exposure to net asset balances held in non-functional currencies.
We regularly monitor our foreign exchange exposures to ensure the overall effectiveness of our foreign currency hedge positions.
6 unchanged sentences
Interest Rate Risk
−Removed: As of August 31, 2022, we had a $77.9 million outstanding balance on our existing $150.0 million revolving credit facility agreement with Bank of America.
+Added: As of August 31, 2023, we had a $52.9 million outstanding balance on our existing $150.0 million revolving credit facility agreement with Bank of America, N.A.
This $150.0 million revolving credit facility is subject to interest rate fluctuations.
6 unchanged sentences
Dollar borrowings)
−Removed: Sterling Overnight Index Average Reference Rate (British Pound Sterling borrowings)
+Added: • Sterling Overnight Index Average Reference Rate (Pound Sterling borrowings)
• Euro Interbank Offered Rate (Euro borrowings)
−Removed: Any significant increase in these rates could have a material effect on interest expense incurred on any borrowings outstanding under the credit facility.
+Added: As of August 31, 2023, our primary interest rate exposure was from changes in interest rates which affect the variable rate on our revolving credit facility.
+Added: Based on the outstanding balance on our revolving credit facility as of August 31, 2023, the annualized effect of a one percentage point increase in variable interest rates would have resulted in a pretax reduction of our earnings and cash flows of approximately $0.5 million in fiscal year 2023.
+Added: As of August 31, 2023, our weighted average cost of short-term debt, including both fixed and variable rate borrowings, was 5.6% .
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.