11 unchanged sentences
Therefore, to the extent our borrowing costs are not fixed, increases in interest rates may reduce our net income by increasing the cost of our debt without any corresponding increase in rents or cash flow from our finance leases.
−Removed: We manage our exposure to interest rate movements through the use of interest rate derivatives (interest rate swaps and caps).
−Removed: As a result, when market rates of interest change, there is generally not a material impact on our interest expense, future earnings or cash flows.
+Added: We may elect to manage our exposure to interest rate movements through the use of interest rate derivatives (interest rate swaps and caps).
The following discussion about the potential effects of changes in interest rates is based on a sensitivity analysis, which models the effects of hypothetical interest rate shifts on our financial condition and results of operations.
3 unchanged sentences
It also does not include a variety of other potential factors that could affect our business as a result of changes in interest rates.
−Removed: As of December 31, 2019, assuming we do not hedge our exposure to interest rate fluctuations related to our outstanding floating rate debt, a hypothetical 100-basis point increase/decrease in our variable interest rate on our borrowings would result in an interest expense increase/decrease of approximately $1.0 million over the next 12 months.
+Added: As of December 31, 2020, assuming we do not hedge our exposure to interest rate fluctuations related to our outstanding floating rate debt, a hypothetical 100-basis point increase/decrease in our variable interest rate on our borrowings would result in an increase of approximately $0.2 million or a decrease of approximately $0.1 million in interest expense over the next 12 months.
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.