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Quantitative and Qualitative Disclosures about Market Risk” in our annual report on Form 10-K for the fiscal year ended January 3, 2021 (the “Form 10-K”).
−Removed: As of July 4, 2021, there were no material changes from the information contained in the Form 10-K, except as described below.
+Added: As of October 3, 2021, there were no material changes from the information contained in the Form 10-K, except as described below.
Interest Rate Risk
−Removed: Following the Company’s debt refinancing transaction, our long-term debt, including the current portion, aggregated $2,451.6 million as of July 4, 2021 (excluding unamortized debt issuance costs and the effect of purchase accounting adjustments).
+Added: Following the Company’s debt refinancing transaction, our long-term debt, including the current portion, aggregated $2,437.1 million as of October 3, 2021 (excluding unamortized debt issuance costs and the effect of purchase accounting adjustments).
The Company’s predominantly fixed-rate debt structure reduces its exposure to interest rate increases that could adversely affect its earnings and cash flows.
The Company is exposed to interest rate increases under its Series 2021-1 Class A-1 Notes and other lines of credit;
−Removed: however, the Company had no outstanding borrowings under the 2021-1 Class A-1 Notes and other lines of credit as of July 4, 2021.
+Added: however, the Company had no outstanding borrowings under the 2021-1 Class A-1 Notes and other lines of credit as of October 3, 2021.
See “Liquidity and Capital Resources” in “Item 2.
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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.