9 unchanged sentences
As of December 31, 2020, 74% of our debt was fixed and 26% was variable, which includes the effects of the interest rate swaps and collars.
−Removed: The notional amount of outstanding debt associated with the interest rate swaps and collars was $1.7 billion as of December 31, 2019.
−Removed: As of December 31, 2018, 72% of our debt was fixed and 28% was variable, which includes the effects of the interest rate swaps.
−Removed: The notional amount of outstanding debt associated with the interest rate swap agreements was $1.0 billion as of December 31, 2018.
−Removed: The change in our fixed rate percentage from December 31, 2018 to December 31, 2019 was primarily due to higher outstanding fixed rate debt and additional interest rate swaps and collars executed.
−Removed: Based on our December 31, 2019 outstanding variable rate debt balance, and adding as variable debt the principle amount of debt associated with interest rate swap agreements that matured on January 2, 2020, a one percentage point increase in annual LIBOR interest rates would increase our annual interest expense by approximately $20.9 million excluding the effects of capitalization of interest.
+Added: The notional amount of outstanding debt associated with the interest rate derivative agreements was $0.7 billion as of December 31, 2020.
+Added: As of December 31, 2019, 78% of our debt was fixed and 22% was variable, which includes the effects of the interest rate swaps and collars.
+Added: The notional amount of outstanding debt associated with the interest rate derivative agreements was $1.7 billion as of
+Added: December 31, 2019.
+Added: The change in our fixed rate percentage from December 31, 2019 to December 31, 2020 was primarily due to the maturity of interest rate swaps.
+Added: Based on our December 31, 2020 outstanding variable rate debt balance, a one percentage point increase in annual LIBOR interest rates would increase our annual interest expense by approximately $31.9 million excluding the effects of capitalization of interest.
Foreign Currency Exchange Rate Risk
5 unchanged sentences
dollar exchange rate as of December 31, 2019.
−Removed: The change from December 31, 2018 to December 31, 2019 was due to the delivery of a ship in October 2019 and additional foreign exchange derivatives executed.
−Removed: We estimate that a 10% change
−Removed: in the euro as of December 31, 2019 would result in a $0.3 billion change in the U.S.
+Added: The change from December 31, 2019 to December 31, 2020 was due to the delivery of Seven Seas Splendor.
+Added: We estimate that a 10% change in the euro as of December 31, 2020 would result in a $0.6 billion change in the U.S.
dollar value of the foreign currency denominated remaining payments.
2 unchanged sentences
Fuel expense, as a percentage of our total cruise operating expense, was 15.6% for the year ended December 31, 2020 and 11.2% for the year ended December 31, 2019.
−Removed: We use fuel derivative agreements to mitigate the financial impact of fluctuations in fuel prices and as of December 31, 2019, we had hedged approximately 56%, 50% and 18% of our 2020, 2021 and 2022 projected metric tons of fuel purchases, respectively.
+Added: We use fuel derivative agreements to mitigate the financial impact of fluctuations in fuel prices and as of December 31, 2020, excluding fuel swaps for transactions that are no longer probable of occurrence, we had hedged approximately 59%, 37% and 15% of our 2021, 2022 and 2023 projected metric tons of fuel purchases, respectively.
As of December 31, 2019, we had hedged approximately 50% and 18% of our 2021 and 2022 projected metric tons of fuel purchases, respectively.
−Removed: The change in fuel price risk from December 31, 2018 to December 31, 2019 was due to additional fuel hedges executed.
+Added: Additional hedges were executed between December 31, 2019 to December 31, 2020 to lower our fuel price risk.
We estimate that a 10% increase in our weighted-average fuel price would increase our anticipated 2021 fuel expense by $29.5 million.
6 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.