3 unchanged sentences
We are exposed to market risk in the form of changes in interest rates and the potential impact such changes may have on the cash flows from our floating rate debt or the fair values of our fixed rate debt.
−Removed: As of March 31, 2023 and December 31, 2022 (excluding premiums, discounts, and deferred loan costs), $97.1 million (or 18.5%) and $97.1 million (or 52.1%) of our debt, respectively, was fixed rate borrowings, and $427.9 million (or 81.5%) and $89.3 million (or 47.9%), respectively, was floating rate borrowings.
−Removed: Based on the level of floating rate debt outstanding as of March 31, 2023 and December 31, 2022, a 50 basis point change in LIBOR
−Removed: and SOFR would result in an annual impact to our earnings of approximately $2,140,000 and $446,000, respectively.
+Added: As of June 30, 2023 and December 31, 2022 (excluding premiums, discounts, and deferred loan costs), $97.1 million (or 19.7%) and $97.1 million (or 52.1%) of our debt, respectively, was fixed rate borrowings, and $395.3 million (or 80.3%) and $89.3 million (or 47.9%), respectively, was floating rate borrowings.
+Added: Based on the level of floating rate debt outstanding as of June 30, 2023 and December 31, 2022, a 50 basis point change in LIBOR and SOFR would result in an annual impact to our earnings of approximately $2.0 million and $446,000, respectively.
We calculate interest rate sensitivity by multiplying the amount of floating rate debt by the respective change in rate.
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.