7 unchanged sentences
Interest rate risk
−Removed: Our debt portfolio as of December 31, 2022, was comprised of debt predominantly denominated in U.S.
+Added: Our debt portfolio as of December 31, 2023, was comprised of debt denominated in U.S.
This debt portfolio is comprised of 41% fixed-rate debt and 59% variable-rate debt.
2 unchanged sentences
A change in interest rates on the variable portion of the debt portfolio impacts the interest incurred and cash flows but does not impact the net financial instrument position.
−Removed: Based on the fixed-rate debt included in our debt portfolio, as of December 31, 2022, a 100 basis point increase or decrease in interest rates would result in a $50.1 million decrease or $54.3 million increase in fair value, respectively.
−Removed: Based on the variable-rate debt included in our debt portfolio as of December 31, 2022, a 100 basis point increase or decrease in interest rates would result in a $15.2 million increase or decrease in interest incurred.
+Added: Based on the fixed-rate debt included in our debt portfolio, as of December 31, 2023, a 100 basis point increase or decrease in interest rates would result in approximately a $48 million decrease or a $52 million increase in fair value of total fixed rate debt outstanding, respectively.
+Added: We manage our exposure to certain interest rate risks related to our variable rate debt through the use of interest rate swaps and collars.
+Added: We enter into these agreements to hedge the variability of interest expense and cash flows attributable to changes in interest rates of our variable rate debt.
+Added: As of December 31, 2023, we had an aggregate notional amount of $300.0 million and $200.0 million in interest rate swaps and collars, respectively, that are designated as cash flow hedges.
+Added: Refer to ITEM 8, Note 9 of the Notes to Consolidated Financial Statements for additional information regarding our interest rate swaps and collars.
+Added: A 100 basis point fluctuation in interest rates associated with our variable-rate debt as of December 31, 2023, inclusive of our interest rate swaps and collars, would result in an increase of approximately $7 million or decrease of approximately $8 million in interest incurred.
Foreign currency risk
20 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.