9 unchanged sentences
The Company’s predominantly fixed-rate debt structure has reduced its exposure to interest rate increases that could adversely affect its earnings and cash flows.
−Removed: The Company is exposed to interest rate increases under its Series 2019-1 Class A-1 Notes and its 2020-1 Class A-1 Notes (collectively, the “Class A-1 Notes”), as well as its U.S.
−Removed: advertising fund revolving line of credit;
−Removed: however, the Company had no outstanding borrowings under the Class A-1 Notes or U.S.
−Removed: advertising fund revolving line of credit as of January 3, 2021.
−Removed: The Company has outstanding borrowings of C$2.5 million under a Canadian subsidiary’s revolving credit facility as of January 3, 2021, which bears interest at the Bank of Montreal Prime Rate.
−Removed: An increase or decrease of 1.0% in the effective interest rate applied to the outstanding borrowings under our Canadian subsidiary’s revolving credit facility would not have a material effect on our consolidated results of operations.
+Added: The Company is exposed to interest rate increases under its Series 2021-1 Class A-1 Notes and other lines of credit;
+Added: however, the Company had no outstanding borrowings under the 2021-1 Class A-1 Notes or its other lines of credit as of January 2, 2022.
See Note 12 of the Financial Statements and Supplementary Data contained in Item 8 herein for further information on the Company’s debt structure and its securitized financing facility.
−Removed: In addition, LIBOR is expected to be discontinued after 2021.
−Removed: If LIBOR is discontinued, we may need to renegotiate certain loan documents and we cannot predict what alternative index would be negotiated with our lenders or the resulting impact on our interest expense.
+Added: In addition, certain of the Company’s loan documents determine interest based on LIBOR, and we currently intend to renegotiate such loan documents prior to LIBOR being discontinued in 2023.
+Added: At this time, we cannot predict what alternative index would be negotiated with our lenders or the resulting impact on our interest expense.
Commodity Price Risk
+Added: Commodity price increases directly impacted our consolidated results of operations during 2021, and we expect this to continue into 2022.
We purchase certain food products, such as beef, chicken, pork, cheese and grains, that are affected by changes in commodity prices and, as a result, we are subject to variability in our food costs.
16 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.