18 unchanged sentences
The table has limited predictive value as average interest rates for variable-rate debt included in the table represent rates that existed as of December 31, 2021 and are subject to change.
−Removed: Furthermore, the table below incorporates only those exposures that exist as of December 31, 2020 and does not consider exposures or positions that may have arisen or expired after that date.
+Added: Furthermore, the table below incorporates only those exposures that existed as of December 31, 2021 and does not consider exposures or positions that may have arisen or expired after that date.
As a result, our ultimate realized gain or loss with respect to interest rate fluctuations will depend on the exposures that arise during future periods, our hedging strategies at that time, and actual interest rates.
9 unchanged sentences
(1) Weighted average interest rates include the impact of our interest rate swap agreements and are calculated based on the total debt balances as of the end of each year, assuming the repayment of debt on its scheduled maturity date.
−Removed: (2) The interest rates on our variable rate debt are based on credit rating grids.
+Added: (2) The interest rates on our variable rate Unsecured Credit Facility and $300M Term Loan are based on credit rating grids.
The credit rating grids and all-in-rates on outstanding variable rate debt as of December 31, 2021 are as follows:
5 unchanged sentences
$300 Million Term Loan 0.10% 1.25% 1.35% 0.85% – 1.65% 0.00% – 0.65%
−Removed: $300 Million Term Loan 0.15% 1.25% 1.40% 0.85% – 1.65% 0.00% – 0.65%
2022 Notes 0.13% 1.05% 1.18% N/A N/A
(1) Our Revolving Facility is further subject to a facility fee ranging from 0.13% to 0.30%, which is excluded from the all-in-rate presented above.
−Removed: (3) We have in place seven interest rate swap agreements that convert the variable interest rates on all or a portion of three variable rate debt instruments to fixed rates.
−Removed: The balances subject to interest rates swaps as of December 31, 2020 are as follows (dollars in thousands):
+Added: (3) We have in place four interest rate swap agreements that convert the variable interest rate on one variable rate debt instrument to a fixed rate.
+Added: The balance subject to interest rates swaps as of December 31, 2021 is as follows (dollars in thousands):
As of December 31, 2021
1 unchanged sentence
$300 Million Term Loan $ 300,000 2.61% 1.25% 3.86%
−Removed: $300 Million Term Loan $ 300,000 2.61% 1.25% 3.86%
−Removed: 2022 Notes $ 150,000 1.11% 1.05% 2.16%
Financial Statements and Supplementary Data
2 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.