3 unchanged sentences
One of the principal market risks facing us is interest rate risk on our variable rate indebtedness.
−Removed: As of September 30, 2021, our floating rate debt of $125.0 million represented 2.5% of our total enterprise value.
+Added: As of March 31, 2022, our floating rate debt of $125.0 million represented 2.4% of our total enterprise value.
Subject to maintaining ESRT's qualification as a REIT for U.S.
8 unchanged sentences
We do not enter into derivative or interest rate transactions for speculative purposes.
−Removed: As of September 30, 2021, we have an interest rate LIBOR swap agreement with an aggregate notional value of $265.0 million, which fixes the LIBOR interest rate at 2.1485% and matures on August 24, 2022.
−Removed: This interest rate swap has been designated as a cash flow hedge and is deemed highly effective with a fair value of $(4.9) million which is included in accounts payable and accrued expenses on the condensed consolidated balance sheet as of September 30, 2021.
−Removed: Based on our floating rate debt balances, interest expense would have increased by approximately $0.9 million for the nine months ended September 30, 2021, if short-term interest rates had been 1% higher.
−Removed: As of September 30, 2021, the weighted average interest rate on the $2.0 billion of fixed-rate indebtedness outstanding was 3.91% per annum, with maturities at various dates through March 17, 2035.
−Removed: As of September 30, 2021, the fair value of our outstanding debt was approximately $2.2 billion, which was approximately $44.3 million greater than the book value as of such date.
+Added: As of March 31, 2022, we have interest rate LIBOR swap and cap agreements with an aggregate notional value of $451.3 million and which mature between August 24, 2022 and November 1, 2033.
+Added: These "variable to fixed" interest rate swaps have been designated as cash flow hedges and are deemed highly effective with fair values of $0.05 million and $(13.3) million which is included in prepaid assets and other expenses and in accounts payable and accrued expenses, respectively, on the condensed consolidated balance sheet as of March 31, 2022.
+Added: Based on our floating rate debt balances, interest expense would have increased by approximately $0.3 million for the three months ended March 31, 2022, if short-term interest rates had been 1% higher.
+Added: As of March 31, 2022, the weighted average interest rate on the $2.2 billion of fixed-rate indebtedness outstanding was 3.9% per annum, with maturities at various dates through March 17, 2035.
+Added: As of March 31, 2022, the fair value of our outstanding debt was approximately $2.2 billion, which was approximately $79.6 million less than the book value as of such date.
Interest risk amounts were determined by considering the impact of hypothetical interest rates on our financial instruments.
21 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.