1 unchanged sentence
Market risk refers to the risk of loss from adverse changes in market prices and interest rates.
−Removed: The Company’s future revenue, cash flows, and fair values of certain financial instruments are dependent upon prevailing market rates.
+Added: The Company’s future revenue, cash flows, and fair values of certain financial instruments are dependent upon prevailing market prices and interest rates.
Centerspace’s exposure to market risk is primarily related to fluctuations in the general level of interest rates on the current and future fixed and variable rate debt obligations.
−Removed: The Company has used interest rate swaps to offset the impact of interest rate fluctuations on variable-rate debt;
−Removed: during the nine months ended September 30, 2022, Centerspace terminated its remaining interest rate swaps, which consisted of a swap with a notional amount of $75.0 million and a forward swap with a notional amount of $70.0 million.
+Added: Our operating results are, therefore, affected by changes in interest rates, including LIBOR and SOFR.
The Company does not enter into derivative instruments for trading or speculative purposes.
−Removed: See our Annual Report on Form 10-K for the year ended December 31, 2021 under the heading “Item 7A.
+Added: See our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on February 21, 2023, under the heading “Item 7A.
Quantitative and Qualitative Disclosures About Market Risk” for a more complete discussion of the Company’s interest rate sensitivity.
−Removed: As of September 30, 2022, the Company has increased its exposure to market risk by terminating interest rate swaps which synthetically fixed the variable rate on the line of credit.
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.