5 unchanged sentences
As a matter of policy, we do not use financial instruments for trading or speculative transactions.
−Removed: We had $3.2 billion of outstanding consolidated indebtedness as of December 31, 2021 (inclusive of net unamortized debt discounts, premiums and issuance costs of $58.6 million).
−Removed: As of December 31, 2021, we were party to various consolidated interest rate hedge agreements totaling $875.0 million with maturities over various terms through 2026.
+Added: As of December 31, 2022, we had $3.0 billion of outstanding consolidated indebtedness (inclusive of net unamortized debt discounts, premiums and issuance costs of $32.0 million).
+Added: In addition, 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 $183.3 million (6%), respectively, of our total consolidated indebtedness at December 31, 2022.
−Removed: As of December 31, 2021, we had $153.5 million of fixed rate debt scheduled to mature during 2022.
−Removed: 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 these loans using cash on hand.
+Added: As of December 31, 2022, we had $256.5 million of fixed rate debt scheduled to mature in 2023.
+Added: A 100-basis point change in interest rates on this debt as of December 31, 2022 would change our annual cash flow by $2.6 million.
A 100-basis point change in interest rates on our unhedged variable rate debt as of December 31, 2022 would change our annual cash flow by $1.8 million.
−Removed: Based upon the terms of our variable rate debt, we are most vulnerable to a change in short-term LIBOR interest rates.
+Added: Based upon the terms of our variable rate debt, we are most vulnerable to a change in short-term SOFR interest rates.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
2 unchanged sentences
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.