KITE REALTY GROUP TRUST 10-Q

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Market Risk Related to Fixed and Variable Rate Debt We had $3.2 billion of outstanding consolidated indebtedness as of March 31, 2022 (inclusive of net unamortized debt discounts, premiums and issuance costs of $49.1 million). As of March 31, 2022, we were party to various consolidated interest rate hedge agreements totaling $875.0 million with maturities over various terms through 2026. Reflecting the effects of these hedge agreements, our fixed and variable rate debt would have been $2.8 billion (90%) and $318.9 million (10%), respectively, of our total consolidated indebtedness as of March 31, 2022. 41 As of March 31, 2022, we had $256.9 million of fixed rate debt scheduled to mature within the next twelve months. A 100-basis point change in interest rates would not materially impact the annual cash flows associated with this debt as we expect to repay this debt using cash on hand. A 100-basis point change in interest rates on our unhedged variable rate debt as of March 31, 2022 would change our annual cash flow by $3.2 million. Based upon the terms of our variable rate debt, we are most vulnerable to a change in short-term LIBOR interest rates.