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The Company manages its exposure to these market risks through the monitoring of its available financing alternatives, including in certain circumstances, the use of derivative financial instruments.
−Removed: We are also subject to risk from changes in debt and equity prices from our non-qualified retirement savings plan investments in debt securities and common stock, which have a carrying value of $45.9 million and $41.6 million as of June 30, 2024 and December 31, 2023, respectively, and are accounted for as trading securities.
+Added: We are also subject to risk from changes in debt and equity prices from our non-qualified retirement savings plan investments in debt securities and common stock, which have a carrying value of $48.8 million and $41.6 million as of September 30, 2024 and December 31, 2023, respectively, and are accounted for as trading securities.
The Company will continue to monitor the exposure in these areas and make the appropriate adjustments as market conditions dictate.
−Removed: As of June 30, 2024, the Company had $1.03 billion of variable interest rate debt instruments outstanding at an effective interest rate of 6.76%.
−Removed: A hypothetical change of 10% in the Company’s effective interest rate from the June 30, 2024 levels would increase or decrease annual interest expense by $7.0 million.
+Added: As of September 30, 2024, the Company had $383 million of variable interest rate debt instruments outstanding at an effective interest rate of 6.68%.
+Added: A hypothetical change of 10% in the Company’s effective interest rate from the September 30, 2024 levels would increase or decrease annual interest expense by $2.6 million.
The Company generally expects to refinance its fixed and variable long-term debt obligations prior to their scheduled maturities.
1 unchanged sentence
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.