7 unchanged sentences
2023 $ 45,583
+Added: 2026 1,850,752
2027 and thereafter 1,375
2 unchanged sentences
The agreements swap one-month LIBOR for fixed rates.
+Added: In February 2022, the company entered into an additional floating-to-fixed interest rate swap agreement that uses a daily Secured Overnight Financing Rate ("SOFR") in lieu of LIBOR.
The company has designated these swaps as cash flow hedges and all changes in fair value of the swaps are recognized in accumulated other comprehensive income.
−Removed: As of January 1, 2022, the fair value of these instruments was a liability of $18.0 million.
+Added: As of December 31, 2022, the fair value of these instruments was an asset of $65.0 million.
The change in fair value of these swap agreements in the first twelve months of 2022 was a gain of $61.6 million, net of taxes.
The potential net loss on fair value for such instruments from a hypothetical 10% adverse change in quoted interest rates would not have a material impact on the company's financial position, results of operations and cash flows.
−Removed: In August 2020, the company issued $747.5 million aggregate principal amount of Convertible Notes in a private offering pursuant to the Indenture.
−Removed: The company does not have economic interest rate exposure as the Convertible Notes have a fixed annual rate of 1.00%.
+Added: The company has Convertible Notes that were issued in August 2020, which carry a fixed annual interest rate of 1.00%.
+Added: As such, the company does not have economic interest rate exposure on the Convertible Notes.
The fair value of the Convertible Notes is subject to interest rate risk, market risk and other factors due to its conversion feature.
11 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.