3 unchanged sentences
As of December 31, 2020, we had approximately $2.4 billion of long-term fixed rate debt and $1.5 billion of long-term variable rate debt.
−Removed: For the year ended December 31, 2019 , our total fixed-rate debt and variable-rate debt outstanding had a weighted average interest rate of 4.7% .
−Removed: 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.
+Added: As of December 31, 2020, our total fixed-rate debt and variable-rate debt outstanding had a weighted average interest rate of 3.59%.
+Added: In the normal course of business, we enter into certain interest rate cap agreements with major financial institutions to manage our risk above certain interest rates on variable rate debt.
As of December 31, 2020, $2.4 billion, or 61.2%, of our long-term debt has fixed rates.
2 unchanged sentences
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, increases in LIBOR of 100 , 200 and 500 basis points would have resulted in additional annual interest expense of $12.6 million , $25.2 million and $38.8 million , respectively.
−Removed: Certain of the Company's variable debt instruments include springing
−Removed: provisions that obligate the Company 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.
+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
+Added: expense of $15.5 million, $31.0 million and $66.1 million, respectively.
+Added: 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.