2 unchanged sentences
Discounted cash flow analysis is generally used to estimate the fair value of our mortgage payable, using a rate of 3.22% and 3.38% as of December 31, 2021 and 2020, respectively.
−Removed: As of December 31, 2020 and 2019, our mortgage payable both had a book value of $97.1 million, and a fair value of $100.8 million and $99.8 million, respectively.
+Added: As of both December 31, 2021 and 2020, our mortgage payable had a book value of $97.1 million and a fair value of $100.8 million.
Our future income, cash flow and fair values relevant to financial instruments are dependent upon prevalent market interest rates.
2 unchanged sentences
As of December 31, 2021 and 2020 (excluding premiums, discounts, and deferred loan costs), $102.1 million (or 50.2%) and $111.6 million (or 34.0%) of our debt, respectively, was fixed rate mortgage loans, and $101.4 million (or 49.8%) and $216.3 million (or 66.0%), respectively, was floating rate borrowings.
−Removed: Based on the level of floating rate debt outstanding as of December 31, 2020 and 2019, a 12.5 basis point change in LIBOR would result in an annual impact to our earnings of approximately $270,000 and $268,000, respectively.
+Added: Based on the level of floating rate debt outstanding as of December 31, 2021 and 2020, a 50 basis point change in LIBOR would result in an annual impact to our earnings of approximately $507,000 and $1.1 million, respectively.
We calculate interest rate sensitivity by multiplying the amount of floating rate debt by the respective change in rate.
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.