6 unchanged sentences
We have entered into interest rate swap agreements indexed to three-month LIBOR in order to manage our risk from fluctuations in three-month LIBOR above the 0.75% floor.
−Removed: The fixed rates for each swap agreement are presented in the table below.
−Removed: As of December 31, 2021, the interest rate on the Term Loan Facility was 3.50%, equal to an applicable margin of 2.75% plus the 0.75% three-month LIBOR floor.
−Removed: The key terms of the swaps outstanding as of December 31, 2021 are presented below:
−Removed: Transaction Date Effective Date Notional Amount (in millions) Fixed Rate Paid (Received) Maturity Date
−Removed: December 2016 February 3, 2017 $ 450.0 1.9040% February 3, 2022
−Removed: December 2016 February 3, 2017 450.0 1.9040% February 3, 2022
−Removed: February 2021 February 3, 2021 (900.0) (1.9040)% February 3, 2022
+Added: During 2022, three of these swap agreements matured.
+Added: The fixed rate for the remaining swap agreement is presented in the table below.
+Added: As of December 31, 2022, the interest rate on the Term Loan Facility was 7.38%, equal to an applicable margin of 2.75% plus three-month LIBOR for the interest period of 4.63%.
+Added: The key terms of the swap outstanding as of December 31, 2022 are presented below:
+Added: Transaction Date Effective Date Notional Amount (in millions) Fixed Rate Paid Maturity Date
February 2021 February 9, 2021 $ 1,350.0 2.3820% February 9, 2026
−Removed: Total $ 1,350.0
Foreign Currencies
5 unchanged sentences
During 2022, we recognized foreign currency transaction losses of $10 million wit hin "Other income (expense), net" in our Consolidated Statements of Comprehensive Loss.
−Removed: As we continue to grow our international operations, our exposure to foreign currency translation and transaction risk could become more significant.
+Added: As we grow our international operations, our exposure to foreign currency translation and transaction risk could become more significant.
We have in the past and may in the future enter into foreign currency hedging instruments to limit our exposure to foreign currency risk.
−Removed: In November 2018, we entered into one foreign currency forward contract.
−Removed: Under the terms of the contract, we sold £75 million at a rate of 1.3002 British pound sterling to U.S.
−Removed: dollar and received $97.5 million.
−Removed: This contract settled on November 29, 2019 and we received a final net payment of $0.8 million.
In November 2019, we entered into two foreign currency net-zero cost collar contracts with an aggregate notional amount of £100 million and a maturity date of November 30, 2020.
4 unchanged sentences
These contracts had three-month terms and settled at various dates throughout the year, which resulted in us making aggregate payments of $5.4 million.
−Removed: As of December 31, 2020, there was no notional amount outstanding related to these contracts.
During the fourth quarter of 2020, we entered into two foreign currency forward contracts.
2 unchanged sentences
These contracts settled on November 30, 2021 and we received a final net payment of $0.4 million.
+Added: There were no foreign currency hedging contracts outstanding as of December 31, 2021 or 2022.
See Item 8 of Part II, Financial Statements and Supplementary Data - Note 14, "Derivatives," for more information on interest rate swaps and foreign currency hedging contracts.
2 unchanged sentences
Power costs vary by geography, the source of power generation and seasonal fluctuations and are subject to certain proposed legislation that may increase our exposure to increased power costs.
−Removed: We have fixed price power contracts for data centers in the Dallas-Fort Worth, San Jose, Somerset, New Jersey and London areas that allow us to procure power either on a fixed price or on a variable price basis.
+Added: We have power contracts for data centers in the Dallas-Fort Worth, San Jose, Somerset, New Jersey and London areas that allow us to procure power either on a fixed price or on a variable price basis.
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.