Quantitative and Qualitative Disclosures About Market Risk
−Removed: We have potential interest rate risk exposure related to outstanding borrowings incurred under our Knicks Revolving Credit Facility and Rangers Revolving Credit Facility , collectively, the “ MSG Sports Credit Facilities ”.
−Removed: Changes in interest rates may increase interest expense payments with respect to any borrowings incurred under the MSG Sports Credit Facilities .
−Removed: Borrowings under our MSG Sports Credit Facilities incur interest, depending on our election, at a floating rate based upon LIBOR, the U.S.
+Added: We have potential interest rate risk exposure related to outstanding borrowings incurred under our credit facilities.
+Added: Changes in interest rates may increase interest expense payments with respect to any borrowings incurred under the credit facilities.
+Added: Borrowings under our credit facilities incur interest, depending on our election, at a floating rate based upon LIBOR, the U.S.
Federal Funds Rate or the U.S.
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If appropriate, we may seek to reduce such exposure through the use of interest rate swaps or similar instruments.
−Removed: See Note 13 to the consolidated financial statements included in Item 8 of this Annual Report on Form 10-K for more information on our MSG Sports Credit Facilities .
−Removed: As of June 30, 2020 , we had a total of $350 million in debt outstanding under our MSG Sports Credit Facilities .
+Added: See Note 13 to the consolidated financial statements included in Item 8 of this Annual Report on Form 10-K for more information on our credit facilities.
+Added: As of June 30, 2021, we had a total of $355 million borrowings outstanding under our credit facilities.
The effect of a hypothetical 100 basis point increase in floating interest rates prevailing as of June 30, 2021 and continuing for a full year would increase interest expense approximately $3.6 million.
In addition, see “Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations — Factors Affecting Results of Operations — Impact of COVID-19 on Our Business ” for discussions of disruptions caused by COVID-19.
−Removed: Financial Statements and Supplementary Data
−Removed: The Financial Statements required by this Item 8 appear beginning on page F-1 of this Annual Report on Form 10-K, and are incorporated by reference herein.
−Removed: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations — Factors Affecting Operating Results — Impact of COVID-19 on Our Business” for discussions of disruptions caused by COVID-19.
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.