8 unchanged sentences
Any increases in our outstanding indebtedness will amplify the effects of increased interest rates.
−Removed: As of March 31, 2026, the outstanding principal balance, net of exit fee, of $523.7 million on the Credit Agreement was subject to variable interest rates.
+Added: As of June 30, 2026, the outstanding principal balance, net of exit fee, of $522.4 million on the Credit Agreement was subject to variable interest rates.
Based upon a sensitivity analysis, a hypothetical 1% change in interest rates on our debt outstanding would change our annual interest expense by approximately $5.2 million.
2 unchanged sentences
however, our franchise agreements, including international agreements, are primarily denominated and settled in U.S.
−Removed: Accordingly, we do not believe we have material exposure to foreign currency exchange risk for the three months ended March 31, 2026 and 2025 since we operate primarily in the United States for the periods presented.
+Added: Accordingly, we do not believe we have material exposure to foreign currency exchange risk for the six months ended June 30, 2026 and 2025 since we operate primarily in the United States for the periods presented.
Accordingly, we believe we do not have a material exposure to foreign currency risk.
1 unchanged sentence
Inflation Risk
−Removed: As of March 31, 2026, we do not believe that inflation has had a material effect on our business, financial condition or results of operations.
+Added: As of June 30, 2026, we do not believe that inflation has had a material effect on our business, financial condition or results of operations.
However, to the extent inflation results in rising interest rates and has other adverse effects on the market, it may have an adverse impact on our operating results and financial condition.
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.