13 unchanged sentences
Although we attempt to minimize the effect of price volatility by negotiating fixed price contracts for the supply of key ingredients, there are no established fixed price markets for fresh bone-in chicken wings, so we are subject to prevailing market conditions.
−Removed: Bone-in chicken wings accounted for approximately 25.4% and 28.1% of our company-owned restaurant cost of sales during the twenty-six weeks ended June 27, 2020 and June 29, 2019, respectively.
−Removed: A hypothetical 10% increase in the bone-in chicken wing costs would have increased costs of sales by approximately $0.6 million during the twenty-six weeks ended June 27, 2020.
+Added: Bone-in chicken wings accounted for approximately 26.2% and 28.4% of our company-owned restaurant cost of sales during the thirty-nine weeks ended September 26, 2020 and September 28, 2019, respectively.
+Added: A hypothetical 10% increase in the bone-in chicken wing costs would have increased costs of sales by approximately $1.0 million during the thirty-nine weeks ended September 26, 2020.
We do not engage in speculative financial transactions nor do we hold or issue financial instruments for trading purposes.
1 unchanged sentence
Interest Rate Risk.
−Removed: As discussed in “Item 2.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operation” under “Liquidity and Capital Resources,” the Company entered into a securitized financing facility on November 14, 2018, issuing $320 million of Class A-2 Notes.
−Removed: The proceeds from the Class A-2 Notes were used to repay all amounts outstanding under the Company's previous senior secured credit facility, to pay transaction costs, for general corporate purposes, and for the payment of a special dividend.
−Removed: Concurrently, the Company issued the Variable Funding Notes, which permit borrowings of up to $20 million and may be used to issue letters of credit.
−Removed: The final legal maturity date of the Notes is in 2048;
−Removed: however, the anticipated repayment date of the Notes is December 2023.
−Removed: The Company is exposed to interest rate risk on borrowings under the Variable Funding Notes.
−Removed: As of June 27, 2020, the Company had borrowings of $16.0 million under the Variable Funding Notes and $4.0 million of letters of credit outstanding.
−Removed: A hypothetical increase or decrease of 100 basis points on our existing variable rate under the Variable Funding Notes would not materially affect our results of operations or cash flows.
−Removed: The majority of our long-term debt consisted of the $316.8 million outstanding under the Class A-2 Notes as of June 27, 2020 (excluding unamortized debt issuance costs and the effect of purchase accounting adjustments).
+Added: As of September 26, 2020, the Company was exposed to interest rate risk on borrowings under the 2018 Variable Funding Notes.
+Added: As of September 26, 2020, the Company had borrowings of $16.0 million under the 2018 Variable Funding Notes and $4.0 million of letters of credit outstanding.
+Added: A hypothetical increase or decrease of 100 basis points on the variable rate under the 2018 Variable Funding Notes as of September 26, 2020 would not materially affect our results of operations or cash flows.
+Added: The majority of our long-term debt consisted of the $316.8 million outstanding under the 2018 Class A-2 Notes as of September 26, 2020 (excluding unamortized debt issuance costs and the effect of purchase accounting adjustments).
The Company’s fixed rate securitized debt exposes the Company to changes in market interest rates reflected in the fair value of the debt and to the risk that the Company may need to refinance maturing debt with new debt at a higher rate.
+Added: On October 30, 2020, the Company completed a transaction to refinance its existing securitized financing facility with a new securitized financing facility, pursuant to which the Issuer issued the 2020 Class A-2 Notes and entered into a revolving financing facility of 2020 Variable Funding Notes that permit borrowings of up to a maximum principal amount of $50.0 million.
+Added: The new securitized financing facility exposes the Company to substantially the same interest rate risks as discussed above.
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.