3 unchanged sentences
Interest Rate Risk
−Removed: As of December 31, 2023, there was no variable rate debt outstanding as we have no outstanding borrowings under our Revolver, which is our only variable-rate debt.
−Removed: Borrowings under our Revolver bear interest based on the secured overnight financing rate ("SOFR").
−Removed: Our future interest rate risk may be affected by any future borrowings under our Revolver prior to the December 1, 2026 maturity date.
−Removed: The following table sets forth the contractual maturities and the total fair values as of December 31, 2023 for our financial instruments:
+Added: We are exposed to interest rate risk on our variable-rate debt.
+Added: The interest rate on our variable-rate debt discussed below is based on the secured overnight financing rate ("SOFR"), and our risk related to future interest rates is most vulnerable to changes in this rate.
+Added: The following table sets forth the contractual maturities and the total fair values as of December 31, 2024 for our financial instruments that are materially affected by interest rate risk:
Maturities by Period
3 unchanged sentences
Average interest rate 4.82 % 4.20 % 5.37 % 5.88 % 4.88 % 7.00 % 5.11 %
+Added: Variable-rate debt $ — $ — $ 200 $ — $ — $ — $ 200 $ 199
+Added: Average interest rate — % — % 6.21 % — % — % — % 6.21 %
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3 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.