3 unchanged sentences
The following is a summary of our annual exposure to a change in interest rates:
−Removed: June 30, 2021
+Added: September 30, 2021
December 31, 2020
14 unchanged sentences
(3) The interest rate for our revolving credit facility excludes a 0.15% facility fee.
−Removed: (4) As of June 30, 2021 and December 31, 2020, the outstanding balance was fixed by interest rate swap agreements.
+Added: (4) As of September 30, 2021 and December 31, 2020, the outstanding balance was fixed by interest rate swap agreements.
The interest rate swaps mature concurrently with the term loan and provide a weighted average interest rate of 1.39% for the Tranche A-1 Term Loan and 1.34% for the Tranche A-2 Term Loan.
1 unchanged sentence
The fair value of our 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, 2021 and December 31, 2020, the estimated fair value of our consolidated debt was $2.1 billion and $2.0 billion.
+Added: As of September 30, 2021 and December 31, 2020, the estimated fair value of our consolidated debt was $2.1 billion and $2.0 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.
11 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, 2021 and December 31, 2020, we had interest rate swap and cap agreements with an aggregate notional value of $862.7 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 $31.9 million and $44.2 million as of June 30, 2021 and December 31, 2020, included in "Other liabilities, net"
+Added: As of September 30, 2021 and December 31, 2020, we had interest rate swap agreements with an aggregate notional value of $862.7 million, which were designated as cash flow hedges.
+Added: The fair value of our interest rate swaps designated as cash flow hedges consisted of liabilities totaling $28.4 million and $44.2 million as of September 30, 2021 and December 31, 2020, 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, 2021 and December 31, 2020, we had various interest rate cap agreements with an aggregate notional value of $867.7 million, which were not designated as cash flow hedges.
−Removed: The fair value of our interest rate caps not designated as hedges was not material as of June 30, 2021 and December 31, 2020.
+Added: As of September 30, 2021 and December 31, 2020, we had various interest rate cap agreements with an aggregate notional value of $867.7 million, which were not designated as cash flow hedges.
+Added: The fair value of our interest rate caps not designated as hedges consisted of assets totaling $266,000 and $35,000 as of September 30, 2021 and December 31, 2020, included in "Other assets, net"
+Added: in our balance sheets.
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.