1 unchanged sentence
We are exposed to market risk associated with changes in the variable interest rate of our Credit Facility.
−Removed: We had previously used derivative instruments to manage our exposure to fluctuations in this variable interest rate;
−Removed: however, our interest rate swaps matured in March 2022, and all borrowings under the Credit Facility are now subject to variable interest rates.
−Removed: A 1% increase in the effective interest rate on the outstanding balance under our Credit Facility at December 31, 2023 would have resulted in an annual increase in our interest expense of $2.9 million.
+Added: As of December 31, 2024, we had $408.3 million of variable interest rate indebtedness outstanding at a weighted average interest rate of 6.8%.
+Added: A 1% increase or decrease in the effective interest rate on the outstanding balance under our Credit Facility at December 31, 2024 would have resulted in an annual increase or decrease in our interest expense of approximately $4.1 million.
Financial Statements and Supplementary Data
2 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.