3 unchanged sentences
The Company's interest rate risk management objectives are to limit the impact of interest rate changes on earnings and cash flows.
−Removed: As of December 31, 2023, our debt included outstanding variable-rate term loans and mortgages of $472.5 million, of which $400.0 million has been swapped to a fixed rate.
−Removed: With regard to our variable-rate financing, we assess interest rate cash flow risk by continually identifying and monitoring changes in interest rate exposures that may adversely impact expected future cash flows and by evaluating hedging opportunities.
+Added: As of December 31, 2024, the Company's debt included outstanding variable-rate debt of $400.0 million, all of which has been swapped to a fixed rate.
We maintain risk management control systems to monitor interest rate cash flow risk attributable to both outstanding or forecasted debt obligations as well as our potential offsetting hedge positions.
13 unchanged sentences
As of the effective date of April 3, 2023, the entirety of the Company's variable rate term loans were swapped to fixed rates through the maturity dates of the Amended Term Loan Agreement.
−Removed: As of December 31, 2023, the Company's interest rate risk was limited to $72.5 million of variable rate cross-collateralized mortgage debt.
−Removed: If market rates of interest on all variable-rate debt as of December 31, 2023 permanently increased or decreased by 1%, the annual increase or decrease in interest expense on the variable-rate debt and future earnings and cash flows would be approximately $0.7 million.
−Removed: The Company is party to five effective interest rate swap agreements and two interest rate forward swap agreements, which address the periods between the maturity dates of the effective swaps and the maturity dates of the Amended Term Loan Agreement.
−Removed: In tandem, the interest rate swaps achieve fixed interest rates for a constant notional amount through the maturity dates of the Amended Term Loan Agreement.
−Removed: The following table summarizes the Company's five effective and two forward interest rate swaps as of December 31, 2023:
−Removed: Interest Rate Swap Effective Date Termination
−Removed: Date InvenTrust Receives
−Removed: Variable Rate of InvenTrust Pays
−Removed: Fixed Rate of Fixed Rate Achieved Notional
−Removed: Amount Fair Value as of
−Removed: December 31, 2023
−Removed: 5.5 Year Term Loan Dec 2, 2019 Jun 21, 2024 1-Month SOFR
−Removed: 1.47% 2.77% $ 50,000 $ 855
−Removed: 5.5 Year Term Loan Dec 2, 2019 Jun 21, 2024 1-Month SOFR
−Removed: 1.46% 2.76% 50,000 857
−Removed: 5.5 Year Term Loan Apr 3, 2023 Mar 22, 2027 1-Month SOFR
−Removed: 3.69% 4.99% 100,000 (122)
−Removed: 5 Year Term Loan Dec 21, 2023 Sep 22, 2026 1-Month SOFR
−Removed: 1.51% 2.81% 100,000 5,820
−Removed: 5 Year Term Loan Dec 21, 2023 Sep 22, 2026 1-Month SOFR
−Removed: 1.51% 2.81% 100,000 5,845
−Removed: $ 400,000 $ 13,255
−Removed: 5.5 year, fixed portion Jun 21, 2024 Mar 22, 2027 1-Month SOFR
−Removed: 1.48% 2.78% 50,000 $ 2,451
−Removed: 5.5 year, fixed portion Jun 21, 2024 Mar 22, 2027 1-Month SOFR
−Removed: 1.54% 2.84% 50,000 2,368
−Removed: $ 100,000 $ 4,819
−Removed: The following table summarizes the Company's four effective and four forward interest rate swaps as of December 31, 2022:
−Removed: Interest Rate Swap Effective Date Termination
−Removed: Date InvenTrust Receives
−Removed: Variable Rate of InvenTrust Pays
−Removed: Fixed Rate of Fixed Rate Achieved Notional
−Removed: Amount Fair Value as of December 31, 2022
−Removed: 5 year, fixed portion Dec 2, 2019 Dec 21, 2023 1-Month SOFR
−Removed: 1.41% 2.71% $ 100,000 $ 3,222
−Removed: 5 year, fixed portion Dec 2, 2019 Dec 21, 2023 1-Month SOFR
−Removed: 1.42% 2.72% 100,000 3,238
−Removed: 5.5 year, fixed portion Dec 2, 2019 Jun 21, 2024 1-Month SOFR
−Removed: 1.47% 2.77% 50,000 2,275
−Removed: 5.5 year, fixed portion Dec 2, 2019 Jun 21, 2024 1-Month SOFR
−Removed: 1.46% 2.76% 50,000 2,281
+Added: The following table summarizes the Company's interest rate swaps as of December 31, 2024 and 2023:
+Added: Interest Rate Swaps Effective
+Added: Date Termination
+Added: Date InvenTrust
+Added: Receives InvenTrust Pays
+Added: Fixed Rate of Fixed Rate
+Added: Achieved Notional
+Added: Amount Fair Value as of Dec.
+Added: 5.5 Year Term Loan 12/2/19 6/21/24 1-Month SOFR N/A N/A $ — $ — $ 855
+Added: 5.5 Year Term Loan 12/2/19 6/21/24 1-Month SOFR N/A N/A — — 857
+Added: 5.5 Year Term Loan 4/3/23 3/22/27 1-Month SOFR
3.69% 4.99% 100,000 656 (122)
−Removed: 5 year, fixed portion Dec 21, 2023 Sep 22, 2026 1-Month SOFR
+Added: 5 Year Term Loan 12/21/23 9/22/26 1-Month SOFR
1.51% 2.81% 100,000 4,212 5,820
−Removed: 5 year, fixed portion Dec 21, 2023 Sep 22, 2026 1-Month SOFR
+Added: 5 Year Term Loan 12/21/23 9/22/26 1-Month SOFR
1.51% 2.81% 100,000 4,226 5,845
−Removed: 5.5 year, fixed portion Jun 21, 2024 Mar 22, 2027 1-Month SOFR
+Added: 5.5 Year Term Loan 6/21/24 3/22/27 1-Month SOFR
1.54% 2.84% 50,000 2,698 2,451
−Removed: 5.5 year, fixed portion Jun 21, 2024 Mar 22, 2027 1-Month SOFR
+Added: 5.5 Year Term Loan 6/21/24 3/22/27 1-Month SOFR
1.48% 2.78% 50,000 2,634 2,368
$ 400,000 $ 14,426 $ 18,074
−Removed: Gains or losses resulting from marking-to-market the Company's derivatives each reporting period are recognized as an increase or decrease in comprehensive (loss) income on the consolidated statements of operations and comprehensive (loss) income.
+Added: Gains or losses resulting from marking-to-market derivatives each reporting period are recognized as an increase or decrease in comprehensive income (loss) on the consolidated statements of operations and comprehensive income (loss).
The information presented above does not consider all exposures or positions that could arise in the future.
6 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.