8 unchanged sentences
We previously managed interest rate risk through the use of a combination of fixed-rate long-term debt and interest rate swaps that fixed a portion of our variable-rate long-term debt.
−Removed: During the three months ended June 30, 2020, our interest rate swap agreements expired, as such, we did not have any derivative instruments outstanding as of June 30, 2020.
+Added: In May 2020, our interest rate swap agreements expired, as such, we did not have any derivative instruments outstanding as of September 30, 2020.
We presently manage interest rate risk primarily by managing the amount, sources and duration of our debt funding.
−Removed: At June 30, 2020, approximately $1.
−Removed: 8 billion of our outstanding long-term debt represents variable-rate debt.
−Removed: Assuming an average balance on our revolving credit borrowings of approximately $311.0 million, a hypothetical 100 bps increase in LIBOR would increase our annual interest e xpense by approximately $9.3 million.
+Added: At September 30, 2020, approximately $1.5 billion of our outstanding long-term debt represents variable-rate debt.
+Added: Assuming an average balance on our revolving credit borrowings of approximately $311.0 million, a hypothetical 100 bps increase in LIBOR would increase our annual interest expense by approximately $9.1 million.
Assuming no revolving credit borrowings, a hypothetical 100 bps increase in LIBOR would increase our annual interest expense by approximately $6.0 million.
2 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.