9 unchanged sentences
Interest Rate Risk
−Removed: As of March 31, 2022, our debt included fixed-rate debt, with a fair value and carrying value of $359.2 million and $355.0 million, respectively.
+Added: As of June 30, 2022, our debt included fixed-rate debt, with a fair value and carrying value of $346.8 million and $355.0 million, respectively.
Changes in market interest rates on our fixed-rate debt impact the fair value of the debt, but they have no impact on interest incurred or cash flow.
For instance, if interest rates rise 100 basis points, and the fixed-rate debt balance remains constant, we expect the fair value of our debt to decrease, the same way the price of a bond declines as interest rates rise.
−Removed: The sensitivity analysis related to our fixed-rate debt assumes an immediate 100 basis point move in interest rates from March 31, 2022 levels, with all other variables held constant.
+Added: The sensitivity analysis related to our fixed-rate debt assumes an immediate 100 basis point move in interest rates from June 30, 2022 levels, with all other variables held constant.
A 100 basis point increase in market interest rates would result in a decrease in the fair value of our fixed-rate debt of $13.6 million.
A 100 basis point decrease in market interest rates would result in an increase in the fair value of our fixed-rate debt of $14.3 million.
−Removed: As of March 31, 2022, our debt included variable-rate debt that was swapped-to-fixed through the use of derivative instruments with a fair value and carrying value of $175.0 million.
−Removed: The sensitivity analysis related to our variable-rate debt that was swapped-to-fixed assumes an immediate 100 basis point move in interest rates from March 31, 2022 levels and excludes the impact of the derivative instrument, with all other variables held constant.
+Added: As of June 30, 2022, our debt included variable-rate debt that was swapped-to-fixed through the use of derivative instruments with a fair value and carrying value of $175.0 million.
+Added: The sensitivity analysis related to our variable-rate debt that was swapped-to-fixed assumes an immediate 100 basis point move in interest rates from June 30, 2022 levels and excludes the impact of the derivative instrument, with all other variables held constant.
A 100 basis point increase in variable interest rates would result in a decrease in the fair value of our variable-rate debt that was swapped-to-fixed of $0.2 million.
A 100 basis point decrease in variable interest rates would result in an increase in the fair value of our variable-rate debt that was swapped-to-fixed of $0.2 million.
−Removed: As of March 31, 2022, our debt included variable-rate debt with a fair value and carrying value of $91.0 million.
−Removed: The sensitivity analysis related to our variable-rate debt assumes an immediate 100 basis point move in interest rates from March 31, 2022 levels, with all other variables held constant.
−Removed: A 100 basis point increase in variable interest rates would result in a decrease in the fair value of our variable-rate debt of $0.1 million.
+Added: As of June 30, 2022, our debt included variable-rate debt with a fair value and carrying value of $71.0 million.
+Added: The sensitivity analysis related to our variable-rate debt assumes an immediate 100 basis point move in interest rates from June 30, 2022 levels, with all other variables held constant.
+Added: A 100 basis point increase in variable interest rates would result in a decrease in the fair value of our variable-rate debt of less than $0.1 million.
A 100 basis point decrease in variable interest rates would result in an increase in the fair value of our variable-rate debt of $0.1 million.
1 unchanged sentence
See Note 6 – Debt, Net to our consolidated financial statements.
−Removed: As of March 31, 2022, our interest rate swaps had a fair value that resulted in net assets of $4.4 million.
+Added: As of June 30, 2022, our interest rate swaps had a fair value that resulted in net assets of $5.9 million.
See Note 7 – Derivatives and Hedging Activities to our consolidated financial statements for further discussion.
−Removed: As the information presented above includes only those exposures that existed as of March 31, 2022, it does not consider exposures or positions arising after that date.
+Added: As the information presented above includes only those exposures that existed as of June 30, 2022, it does not consider exposures or positions arising after that date.
The information presented herein has limited predictive value.
15 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.