10 unchanged sentences
If current LIBOR is below 0.75%, even though the amount borrowed remains the same, our net income and cash flows, including cash available for servicing our indebtedness, will decrease by the impact of the difference between 0.75% and current LIBOR because certain of our variable-rate debt has an interest floor of 0.75% while the corresponding interest rate swap contracts do not have a LIBOR floor.
−Removed: The unrealized gains and losses of interest rate swap contracts recognized in interest expense, net, in the Condensed Consolidated Statements of Operations were a gain of $107 million and a loss of $70 million during the three months ended March 31, 2021 and 2020, respectively.
−Removed: As of March 31, 2021, the carrying amount of our debt, excluding finance leases, was $9.5 billion with a fair value of $10 billion.
−Removed: In addition, we had interest rate swap contracts with aggregate notional amounts of $3.2 billion with a fair value of $169 million as a net liability.
−Removed: As of March 31, 2021, a hypothetical 10% change in interest rates would change the fair value of our debt by approximately $184 million based on the implied yield from broker-quoted market prices on our debt, while a similar change in interest rates would change the fair value of our interest rate swap contracts by approximately $2 million based on a discounted cash flow analysis.
+Added: The unrealized gains and losses of interest rate swap contracts recognized in interest expense, net, in the Condensed Consolidated Statements of Operations were losses of $14 million and $28 million during the three months ended June 30, 2021 and 2020, respectively, and $92 million gain and a $98 million loss during the six months ended June 30, 2021 and 2020, respectively.
+Added: As of June 30, 2021, the carrying amount of our debt, excluding finance leases, was $9.5 billion with a fair value of $10.1 billion.
+Added: In addition, we had interest rate swap contracts with aggregate notional amounts of $3.2 billion with a net liability fair value of $184 million.
+Added: As of June 30, 2021, a hypothetical 10% change in interest rates would change the fair value of our debt by approximately $167 million based on the implied yield from broker-quoted market prices on our debt, while a similar change in interest rates would change the fair value of our interest rate swap contracts by approximately $2 million based on a discounted cash flow analysis.
Additionally, any 0.125% decrease in LIBOR below 0.75% would result in an increase of approximately $4 million in annualized interest expense on our variable-rate debt, including the impact of our interest rate swaps.
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.