14 unchanged sentences
We have interest rate swap agreements on $500.0 million of our variable-rate indebtedness, which effectively convert the base rate on the indebtedness from variable to fixed.
−Removed: If market rates of interest on our variable-rate debt increased or decreased by 100 basis points, the change in annual interest expense on our variable-rate debt would decrease earnings and cash flows by approximately $0.2 million or increase earnings and cash flows by approximately $0.2 million, respectively, after taking into account the impact of the $500.0 million of interest rate swap agreements.
+Added: If market rates of interest on our variable-rate debt increased or decreased by 100 basis points, the change in annual interest expense on our variable-rate debt would not increase or decrease earnings and cash flows, after taking into account the impact of the $500.0 million of interest rate swap agreements.
The table below presents the maturity profile, weighted average interest rates and fair value of total debt as of December 31, 2024.
2 unchanged sentences
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.
−Removed: (dollars in thousands) 2024 2025 2026 2027 2028 Thereafter
−Removed: Unsecured Debt
+Added: (dollars in thousands)
+Added: Unsecured Debt 2025 2026 2027 2028 2029 Thereafter
Fixed rate $ 632,312 $ 607,542 $ 400,000 $ 357,708 $ 753,203 $ 2,100,000 $ 4,850,765 $ 4,653,205
16 unchanged sentences
(2) The Company's Revolving Facility and Term Loan Facility include a sustainability metric incentive, which can reduce the applicable credit spread by up to two basis points.
−Removed: During the year ended December 31, 2023, the Company concluded that it did not qualify for a reduction to the applicable credit spread during the year ended December 31, 2023 and year ended December 31, 2022 resulting in a less than $0.1 million increase to interest expense.
+Added: Effective July 8, 2024, the Term Loan Facility and Revolving Credit Facility qualify for a two basis point rate reduction due to the achievement of certain sustainability metric targets for the year ended December 31, 2023.
(3) We have in place seven interest rate swap agreements that convert the variable interest rate on one variable rate debt instrument to a fixed rate.
3 unchanged sentences
Term Loan Facility $ 500,000 3.88% 0.93% 0.10% 4.91%
−Removed: $ 300,000 2.59% 0.95% —% 3.54%
−Removed: Term Loan Facility $ 200,000 3.59% 0.95% 0.10% 4.64%
−Removed: (1) Reference Rate Adjustment of 10 basis points is embedded in the Weighted Average Fixed SOFR Rate for the interest rate swaps on $300.0 million outstanding under our Term Loan Facility.
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.