8 unchanged sentences
Interest Rate Risk.
−Removed: Our long-term debt, including current portion, consisted entirely of the $477.6 million incurred under the 2020 Notes as of December 25, 2021 (excluding unamortized debt issuance costs).
+Added: Our long-term debt, including current portion, consisted entirely of the $724.6 million incurred under the 2022 Notes and 2020 Notes as of December 31, 2022 (excluding unamortized debt issuance costs).
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, but the Company remains exposed 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.
The Company is exposed to interest rate increases under the 2022 Variable Funding Notes;
−Removed: however, the Company had no outstanding borrowings under its 2020 Variable Funding Notes as of December 25, 2021, net of letters of credit issued of $3.5 million.
+Added: however, the Company had no outstanding borrowings under its 2022 Variable Funding Notes as of December 31, 2022.
Financial Statements and Supplementary Data
3 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.