3 unchanged sentences
Based on $678.1 million of total variable interest rate debt, which includes our floor plan notes payable and certain mortgage liabilities, outstanding as of December 31, 2020, a 100 basis point change in interest rates would result in a change of $6.8 million in annual interest expense.
−Removed: We periodically receive floor plan assistance from certain automobile manufacturers.
−Removed: Floor plan assistance reduced our cost of sales for the years ended December 31, 2019 , 2018 , and 2017 , by $42.2 million, $39.2 million, and $36.4 million, respectively.
+Added: We periodically receive floor plan assistance from certain automobile manufacturers, which is accounted for as a reduction in our new vehicle inventory cost.
+Added: Floor plan assistance reduced our cost of sales for the year ended December 31, 2020, 2019, and 2018, by $44.0 million, $42.2 million, and $39.2 million, respectively.
We cannot provide assurance as to the future amount of floor plan assistance and these amounts may be negatively impacted due to future changes in interest rates.
As part of our strategy to mitigate our exposure to fluctuations in interest rates, we have various interest rate swap agreements.
−Removed: All of our interest rate swaps qualify for hedge accounting treatment and do not contain any ineffectiveness.
−Removed: In June 2015, we entered into an interest rate swap agreement with a notional principal amount of $100.0 million .
−Removed: This swap was designed to provide a hedge against changes in variable rate cash flows regarding fluctuations in the one month LIBOR rate, through maturity in February 2025.
−Removed: The notional value of this swap was $79.8 million and $85.1 million as of December 31, 2019 and 2018 , respectively, and is reducing over its remaining term to $53.1 million at maturity.
−Removed: In November 2013, we entered into an interest rate swap agreement with a notional principal amount of $75.0 million .
−Removed: This swap was designed to provide a hedge against changes in variable rate cash flows regarding fluctuations in the one month LIBOR rate, through maturity in September 2023.
−Removed: The notional values of this swap as of December 31, 2019 and 2018 , were $52.7 million and $56.5 million , respectively, and the notional value will reduce over its remaining term to $38.7 million at maturity.
−Removed: For additional information about the effect of our derivative instruments on the accompanying Consolidated Financial Statements, see Note 14 "Financial Instruments and Fair Value" of the Notes thereto.
+Added: All of our interest rate swaps qualify for cash flow hedge accounting treatment and do not contain any ineffectiveness.
+Added: We currently have four interest rate swap agreements.
+Added: Two swap agreements were entered into in July 2020.
+Added: These swaps were designed to provide a hedge against changes in variable rate cash flows regarding fluctuations in the one month LIBOR.
+Added: The following table provides information on the attributes of each swap as of December 31, 2020:
+Added: Inception Date Notional Principal Amount Notional Value Maturity Value Maturity Date
+Added: (In millions) (In millions) (In millions)
+Added: July 2020 $ 93.5 $ 91.8 $ 50.6 December 2028
+Added: July 2020 $ 85.5 $ 84.1 $ 57.3 November 2025
+Added: June 2015 $ 100.0 $ 74.6 $ 53.1 February 2025
+Added: November 2013 $ 75.0 $ 49.0 $ 38.7 September 2023
+Added: For additional information about the effect of our derivative instruments, please refer to Note 14 "Financial Instruments and Fair Value" within the accompanying Consolidated Financial Statements.
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.