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 $3.0 billion of outstanding consolidated indebtedness as of September 30, 2022 (inclusive of net unamortized debt discounts, premiums and issuance costs of $33.8 million). As of September 30, 2022, we were party to various consolidated interest rate hedge agreements totaling $975.0 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 (94%) and $183.5 million (6%), respectively, of our total consolidated indebtedness as of September 30, 2022. As of September 30, 2022, we had $189.3 million of fixed rate debt scheduled to mature within the next 12 months. A 100-basis point change in interest rates on this debt as of September 30, 2022 would change our annual cash flow by $1.9 million. A 100-basis point change in interest rates on our unhedged variable rate debt as of September 30, 2022 would change our annual cash flow by $1.8 million. Based upon the terms of our variable rate debt, we are most vulnerable to a change in short-term Secured Overnight Financing Rate (“SOFR”) interest rates.