7 unchanged sentences
We do not enter into any hedging activities to mitigate this foreign currency translation risk.
−Removed: 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.
−Removed: We regularly monitor our foreign exchange exposures to ensure the overall effectiveness of our foreign currency hedge positions.
+Added: subsidiary utilizes foreign currency forward contracts to limit our exposure to net asset balances held in non-functional currencies.
+Added: We regularly monitor our foreign exchange exposures to ensure the overall effectiveness of our
+Added: foreign currency hedge positions.
While we engage in foreign currency hedging activity to reduce our risk, for accounting purposes, none of our foreign currency forward contracts are designated as hedges.
3 unchanged sentences
If there are significant increases in the costs of crude oil, our gross margins and operating results will be negatively impacted.
−Removed: We do not currently have a strategy or policy to enter into transactions to hedge crude oil price volatility, but we regularly review this policy based on market conditions and other factors.
+Added: We do not currently have a strategy or policy to enter into transactions to hedge crude oil price volatility, but we regularly review our position based on market conditions and other factors.
Interest Rate Risk
1 unchanged sentence
This $125.0 million revolving credit facility is subject to interest rate fluctuations.
−Removed: Under the terms of the credit facility agreement, we may borrow loans in U.S.
−Removed: Dollars or in foreign currencies from time to time until September 30, 2025.
+Added: Under the terms of the credit facility agreement, we make borrowings in U.S.
+Added: Dollars or in foreign currencies from time to time until April 30, 2029.
In addition, we had $66.8 million in fixed rate borrowings consisting of senior notes under our note purchase agreements as of August 31, 2024.
1 unchanged sentence
Interest rates associated with this revolving credit facility are based on the following rates:
−Removed: • Bloomberg Short-term Bank Yield Index Rate (U.S.
+Added: • Secured Overnight Financing Rate (U.S.
Dollar borrowings)
5 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.