8 unchanged sentences
These interest rate swaps have been designated as cash flow hedges and convert the Company's interest rate payments on the first $100 million of variable-rate, 1-month LIBOR-based debt to a fixed interest rate.
−Removed: As a result of these interest rate swaps, interest payments on approximately
−Removed: 34% of our borrowings, as of December 31, 2019, have been swapped from floating rate to fixed rate for the life of the swaps, without an exchange of the underlying principal amount.
+Added: As a result of these interest rate swaps, interest payments on approximately 36% of our borrowings, as of December 31, 2020, have been swapped from floating rate to fixed rate for the life of the swaps, without an exchange of the underlying principal amount.
A hedge effectiveness assessment was completed by comparing the critical terms of the hedged items with the hedging instruments, and also by reviewing the credit standing of the counterparties.
5 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.