3 unchanged sentences
An increase in interest rates could have a material impact on our cash flow.
−Removed: In November 2018, the Company entered into three forward starting interest rate swaps, which became effective on February 13, 2019 and continue until February 13, 2022.
−Removed: The Company fixed the LIBOR component of $1.2 billion of its floating rate debt at a rate of approximately 3.0%.
−Removed: As of February 1, 2020, a 100-basis point increase in assumed interest rates for our variable interest credit facilities would have had an annual impact of approximat ely $6 million on i nterest expense.
−Removed: A 100 basis point decrease in interest rates on our variable interest rate debt outstanding as of February 1, 2020, would result in a net decrease in the fair value of our interest rate swaps of approximately $21 million.
+Added: In November 2018, the Company entered into three forward starting interest rate swaps, which became effective on February 13, 2019 and continue until February 13, 2022 and fixed the LIBOR component of $1.2 billion of the Company's floating rate debt at a rate of approximately 3.0%.
+Added: On October 30, 2020, the Company determined one interest rate swap, which fixed $240.0 million of its floating rate debt at 3.0% to be ineffective.
+Added: On November 10, 2020, the Company terminated one of its interest rate swap agreements and, as of January 30, 2021, has $840.0 million of its floating rate debt at a rate of approximately 3.0%.
+Added: As of January 30, 2021, a 100-basis point increase in assumed interest rates for our variable interest credit facilities would have had an annual impact of approximately $1.4 million on interest expense.
+Added: A 100-basis point decrease in interest rates on our variable interest rate debt outstanding as of January 30, 2021, would result in a net decrease in the fair value of our interest rate swaps of approximately $1.2 million.
In July 2017, FCA announced it intends to stop compelling banks to submit rates for the calculation of LIBOR after 2021.
4 unchanged sentences
In addition, uncertainty about the extent and manner of future changes may result in interest rates and/or payments that are higher or lower than if LIBOR were to remain available in its current form.
−Removed: The Company has contracts that are indexed to LIBOR and is monitoring and evaluating the related risks, which include interest amounts on the ABL Facility and First Lien Term Loan and the interest rate swaps.
+Added: The Company has contracts that are indexed to LIBOR and is monitoring and evaluating the related risks, which include interest amounts on the ABL Facility and First Lien Term Loan and the remaining effective interest rate swap.
In the event that LIBOR is discontinued, the interest rates will be based on a fallback reference rate specified in the applicable documentation governing such debt or swaps or as otherwise agreed upon.
−Removed: Such an event would not affect the Company’s ability to borrow or maintain already outstanding borrowings or swaps, but the alternative reference rate could be higher and more volatile than LIBOR.
+Added: Such an event would not affect the Company’s ability to borrow or maintain already outstanding borrowings or swaps, but the alternative reference rate could be higher and more volatile than LIBOR.
Certain risks arise in connection with transitioning contracts to an alternative reference rate, including any resulting value transfer that may occur.
7 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.