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: In May 2020, our interest rate swap agreements expired, as such, we did not have any derivative instruments outstanding as of September 30, 2020.
+Added: In May 2020, our interest rate swap agreements expired, as such, we did not have any derivative instruments outstanding as of March 31, 2021.
We presently manage interest rate risk primarily by managing the amount, sources and duration of our debt funding.
−Removed: At September 30, 2020, approximately $1.5 billion of our outstanding long-term debt represents variable-rate debt.
+Added: At March 31, 2021, approximately $1.5 billion of our outstanding long-term debt represents variable-rate debt.
Assuming an average balance on our revolving credit borrowings of approximately $312.0 million, a hypothetical 100 bps increase in LIBOR would increase our annual interest expense by approximately $8.5 million.
1 unchanged sentence
COVID-19 Risks and Uncertainties
−Removed: See “ Risk Factors” for further discussion of the adverse impacts of the COVID-19 pandemic on our business and financial performance.
+Added: For further discussion of the adverse impacts of the COVID-19 pandemic on our business and financial performance, see the “ Risk Factors ” section of our Annual Report on Form 10-K, as such risk factors may be updated from time to time in our periodic filings with the SEC.
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.