6 unchanged sentences
The Financial Conduct Authority in the U.K.
−Removed: has stated that it plans to phase out LIBOR by the end of calendar year 2021.
+Added: has stated that it plans to phase out all tenors of LIBOR by June 2023.
We do not currently anticipate a significant impact to our financial position or results of operations as a result of this action as we expect that our financial contracts currently indexed to LIBOR will either expire or be modified without significant financial impact before the phase out occurs.
−Removed: Due to the nature of our debt, the materiality of the fair values of the derivative instruments and the highly liquid, short-term nature and level of our cash and cash equivalents as of December 31, 2020, we believe there is no material risk of exposure to changing interest rates for those positions.
+Added: Due to the nature of our debt, the materiality of the fair values of the derivative instruments and the highly liquid, short-term nature and level of our cash and cash equivalents as of December 31, 2021, we believe that the risk of exposure to changing interest rates for those positions is immaterial.
There were no significant changes in how we manage interest rate risk between December 31, 2020 and December 31, 2021.
4 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.