Quantitative and Qualitative Disclosures About Market Risk
−Removed: We enter into debt obligations primarily to support general corporate purposes, including the operations of our subsidiaries.
−Removed: We are subject to interest rate risk on our senior notes.
−Removed: For fixed rate debt, changes in interest rates generally affect the fair value of the debt instrument, but not our earnings or cash flows.
−Removed: We generally have no obligation to prepay our debt before maturity, and, as a result, interest rate risk and changes in fair market value should not have a significant impact on our fixed rate debt until we are required or elect to refinance or repurchase such debt.
−Removed: Under our current policies, we do not use interest rate derivative instruments to manage our exposure to changes in interest rates.
−Removed: The following table presents principal cash flows by scheduled maturity, weighted average effective interest rates and the estimated fair value of our long-term fixed rate debt obligations as of August 31, 2021 (dollars in thousands):
−Removed: As of August 31, 2021 and for the Years Ending November 30, Fair Value at
−Removed: August 31, 2021
−Removed: 2021 2022 2023 2024 2025 Thereafter Total
−Removed: Long-term debt
−Removed: Fixed Rate $ — $ 530,171 $ 350,000 $ — $ — $ 990,000 $ 1,870,171 $ 2,024,346
−Removed: Weighted Average Effective Interest Rate — % 7.5 % 7.5 % — % — % 5.3 % 6.3 %
+Added: There have been no material changes in our market risk disclosure since November 30, 2021.
For additional information regarding our market risk, refer to the “Quantitative and Qualitative Disclosures About Market Risk” section of our Annual Report on Form 10-K for the year ended November 30, 2021.
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.