2 unchanged sentences
The impact on earnings and the value of our long-term debt are subject to change as a result of movements in market rates and prices.
−Removed: As of June 30, 2020 , we had $2.3 billion of long-term fixed rate debt, $1.4 billion of long-term variable rate debt, and $166.4 million drawn on our variable rate secured credit facility.
−Removed: For the six months ended June 30, 2020 , our total fixed-rate debt and variable-rate debt outstanding, including our secured credit facility had a weighted average interest rate of 4.09% .
+Added: As of September 30, 2020, we had $2.4 billion of long-term fixed rate debt and $1.5 billion of long-term variable rate debt.
+Added: For the nine months ended September 30, 2020, our total fixed-rate debt and variable-rate debt outstanding had a weighted average interest rate of 3.8%.
In the normal course of business, we enter into certain interest rate cap agreements with major financial institutions to effectively manage our risk above certain interest rates on variable rate debt.
−Removed: As of June 30, 2020 , $1.3 billion , or 34.2% , of our long-term debt is variable rate debt subject to interest rate cap agreements and $131.0 million , or 3.5% , of our long-term debt is variable rate debt not subject to any interest rate cap agreements.
−Removed: The $166.4 million drawn on our secured credit facility is variable rate debt not subject to any interest rate cap agreements.
+Added: As of September 30, 2020, $1.4 billion, or 35.5%, of our long-term debt is variable rate debt subject to interest rate cap agreements and $131.0 million, or 3.3%, of our long-term
+Added: debt is variable rate debt not subject to any interest rate cap agreements.
Our outstanding variable rate debt is indexed to LIBOR, and accordingly our annual interest expense related to variable rate debt is directly affected by movements in LIBOR.
−Removed: After consideration of hedging instruments currently in place, and including the impact of our variable rate secured credit facility, increases in LIBOR of 100 , 200 , and 500 basis points would have resulted in additional annual interest expense of $15.9 million , $31.8 million , and $71.0 million , respectively.
+Added: After consideration of hedging instruments currently in place, increases in LIBOR of 100, 200, and 500 basis points would have resulted in additional annual interest expense of $15.6 million, $31.2 million, and $66.5 million, respectively.
Certain of our variable debt instruments include springing provisions that obligate us to acquire additional interest rate caps in the event that LIBOR increases above certain levels, and the implementation of those provisions would result in additional mitigation of interest costs.
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.