2 unchanged sentences
We have exposure to fluctuations in interest rates, which are sensitive to many factors that are beyond our control.
−Removed: The following is a summary of our exposure to a change in interest rates:
−Removed: June 30, 2020
+Added: The following is a summary of our annual exposure to a change in interest rates:
+Added: September 30, 2020
December 31, 2019
14 unchanged sentences
(3) The interest rate for our revolving credit facility excludes a 0.15% facility fee.
−Removed: In July 2020, we repaid the $500.0 million outstanding on our revolving credit facility.
−Removed: (4) As of both June 30, 2020 and December 31, 2019, $100.0 million of the outstanding balance was fixed by interest rate swap agreements.
−Removed: As of June 30, 2020, the interest rate swaps mature concurrently with the term loan and provide a weighted average interest rate of 1.14%.
−Removed: As of June 30, 2020, we had a forward-starting swap that became effective on July 20, 2020 with a notional value of $100.0 million, which effectively converted the variable interest rate applicable to the remaining $100.0 million drawn in April 2020 under our Tranche A-1 Loan to a fixed interest rate upon the effective date of the swap.
−Removed: (5) As of June 30, 2020 and December 31, 2019, $200.0 million and $137.6 million of the outstanding balance was fixed by interest rate swap agreements.
−Removed: As of June 30, 2020, the interest rate swaps mature concurrently with the term loan and provide a weighted average interest rate of 1.34%.
+Added: (4) As of September 30, 2020 and December 31, 2019, $200.0 million and $100.0 million of the outstanding balance was fixed by interest rate swap agreements.
+Added: The interest rate swaps mature concurrently with the term loan and provide a weighted average interest rate of 1.39%.
+Added: (5) As of September 30, 2020 and December 31, 2019, $200.0 million and $137.6 million of the outstanding balance was fixed by interest rate swap agreements.
+Added: As of September 30, 2020, the interest rate swaps mature concurrently with the term loan and provide a weighted average interest rate of 1.34%.
The fair value of our mortgages payable is estimated by discounting the future contractual cash flows of these instruments using current risk-adjusted rates available to borrowers with similar credit profiles based on market sources.
The fair value of our revolving credit facility and unsecured term loans is calculated based on the net present value of payments over the term of the facilities using estimated market rates for similar notes and remaining terms.
−Removed: As of June 30, 2020 and December 31, 2019, the estimated fair value of our consolidated debt was $2.2 billion and $1.7 billion.
+Added: As of September 30, 2020 and December 31, 2019, the estimated fair value of our consolidated debt was $2.1 billion and $1.7 billion.
These estimates of fair value, which are made at the end of the reporting period, may be different from the amounts that may ultimately be realized upon the disposition of our financial instruments.
10 unchanged sentences
While management believes its judgments are reasonable, a change in a derivative's effectiveness as a hedge could materially affect expenses, net income and equity.
−Removed: As of June 30, 2020 and December 31, 2019, we had interest rate swap and cap agreements with an aggregate notional value of $862.7 million and $935.1 million, which were designated as cash flow hedges.
−Removed: The fair value of our interest rate swaps and caps designated as cash flow hedges consisted of liabilities totaling $52.6 million and $17.4 million as of June 30, 2020 and December 31, 2019, included in "Other liabilities, net"
+Added: As of September 30, 2020 and December 31, 2019, we had interest rate swap and cap agreements with an aggregate notional value of $862.7 million and $935.1 million, which were designated as cash flow hedges.
+Added: The fair value of our interest rate swaps and caps designated as cash flow hedges consisted of liabilities totaling $49.2 million and $17.4 million as of September 30, 2020 and December 31, 2019, included in "Other liabilities, net"
in our balance sheets.
3 unchanged sentences
in our statements of operations in the period in which the change occurs.
−Removed: As of June 30, 2020 and December 31, 2019, we had various interest rate swap and cap agreements with an aggregate notional value of $482.7 million and $307.7 million, which were not designated as cash flow hedges.
−Removed: The fair value of our interest rate swaps and caps not designated as hedges was not material as of June 30, 2020 and December 31, 2019.
+Added: As of September 30, 2020 and December 31, 2019, we had various interest rate swap and cap agreements with an aggregate notional value of $867.7 million and $307.7 million, which were not designated as cash flow hedges.
+Added: The fair value of our interest rate swaps and caps not designated as hedges was not material as of September 30, 2020 and December 31, 2019.
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.