1 unchanged sentence
Interest rate risk —We are exposed to interest rate risk, primarily associated with our long-term debt, including current maturities.
−Removed: The following table presents the nominal amounts and related weighted-average interest rates of our long-term debt instruments by contractual maturity date for the years ending December 31 (in millions, except interest rate percentages):
−Removed: Scheduled Maturity Date (a)
+Added: The following table presents the nominal amounts, including the principal and other installments, and related weighted-average interest rates of our long-term debt instruments by contractual maturity date (in millions, except interest rate percentages):
+Added: Years ending December 31,
Fixed rate (USD)
Average interest rate
−Removed: _______________________________
−Removed: (a) Expected maturity amounts are based on the face value of debt.
−Removed: At December 31, 2019 and 2018, the fair value of our debt, presented above was $8.9 billion and $9.2 billion, respectively.
−Removed: During the year ended December 31, 2019, the fair value of our debt decreased by $236 million due to the following:
−Removed: (a) a decrease of approximately $913 million due to the completion of cash tender offers to purchase certain notes on February 5, 2019 and open market repurchases of certain of our debt securities, (b) a decrease of approximately $544 million due to the reclassification of finance lease contract to lease liabilities and (c) a decrease of $346 million due to the repayment of debt in scheduled installments, partially offset by (d) an increase of approximately $1.1 billion due to the issuance of the 6.875% Senior Secured Notes and the 5.375% Senior Secured Notes and (e) an increase of approximately $448 million due to changes in market prices for our outstanding debt.
+Added: At December 31, 2020 and 2019, the fair value of our outstanding debt was $4.8 billion and $8.9 billion, respectively.
+Added: During the year ended December 31, 2020, the fair value of our debt decreased by $4.1 billion due to the following:
+Added: (a) a decrease of $1.7 billion due to changes in market prices for our outstanding debt, (b) a decrease of $1.3 billion due to debt retired early as a result of the redemption of the 9.00% Senior Notes and repurchases of certain notes in cash tender offers and open market repurchases, (c) a decrease of $929 million due to debt restructured in exchange offers and private exchanges and (d) a decrease of $539 million due to debt repaid at scheduled maturities, partially offset by (f) an increase of $297 million due to the issuance of the 8.00% Guaranteed Notes.
See Notes to Consolidated Financial Statements—Note 9—Debt.
1 unchanged sentence
Currency exchange rate risk —We are exposed to currency exchange rate risk primarily associated with our international operations.
−Removed: Our primary risk management strategy for currency exchange rate risk involves structuring customer contracts to provide for payment in both U.S.
+Added: Our primary risk management strategy for currency exchange rate risk involves structuring customer contracts to provide for apportioning payment for our services in U.S.
dollars, which is our functional currency, and local currency.
5 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.