8 unchanged sentences
We are exposed to market risks related to fluctuations in interest rates on our outstanding variable rate indebtedness.
−Removed: We did not utilize swaps, forward or option contracts on interest rates or commodities, or other types of derivative financial instruments as of or during the six months ended June 30, 2020.
+Added: We did not utilize swaps, forward or option contracts on interest rates or commodities, or other types of derivative financial instruments as of or during the nine months ended September 30, 2020.
We have not entered into and currently do not hold derivatives for trading or speculative purposes, but we may do so in the future.
Many of the statements contained in this section are forward looking and should be read in conjunction with our disclosures under the heading “ Cautionary Statement about Forward-Looking Statements ” above.
−Removed: As of June 30, 2020, we had $297.6 million of variable rate indebtedness outstanding under the Credit Agreement.
+Added: As of September 30, 2020, we had $327.6 million of variable rate indebtedness outstanding under the Credit Agreement.
All of the outstanding borrowings under the Credit Agreement are at variable rates based on LIBOR.
−Removed: The interest rate for our variable rate indebtedness as of June 30, 2020 was LIBOR plus 2.50%.
−Removed: At June 30, 2020, LIBOR was 0.18%, subject to the 0.70% LIBOR floor as stipulated in the Credit Agreement.
−Removed: A hypothetical 100 basis point increase in the average interest rate on our variable rate indebtedness would increase our annual interest cost by approximately $3.0 million.
+Added: The interest rate for our variable rate indebtedness as of September 30, 2020 was LIBOR plus 2.35%.
+Added: At September 30, 2020, LIBOR was 0.15%, subject to the 0.70% LIBOR floor as included in the Credit Agreement.
+Added: A hypothetical 100 basis point increase in the average interest rate above the LIBOR floor on our variable rate indebtedness would increase our annual interest cost by approximately $3.3 million.
Based on the current interest rate management policies we have in place with respect to our outstanding indebtedness, we do not believe that the future interest rate risks related to our existing indebtedness will have a material adverse impact on our financial position, results of operations or liquidity.
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.