11 unchanged sentences
We do not enter into derivative or interest rate transactions for speculative purposes.
−Removed: As of March 31, 2023, we had $2.9 billion principal amount of fixed-rate debt outstanding and $1.1 billion principal amount of floating-rate debt outstanding.
+Added: As of June 30, 2023, we had $2.9 billion principal amount of fixed-rate debt outstanding and $1.1 billion principal amount of floating-rate debt outstanding.
The following table quantifies the potential changes in annual net income should interest rates decrease or increase by 10, 50 and 100 basis points, assuming no change in our interest earning assets, interest bearing liabilities, derivative contracts or the shape of the yield curve (i.e., relative interest rates).
−Removed: The base interest rate scenario assumes a 3-month SOFR rate of 4.91%, a 3-month LIBOR rate of 5.19% and a 1-month LIBOR rate of 4.86% as of March 31, 2023.
+Added: The base interest rate scenario assumes a 1-month SOFR rate of 5.14% and a 3-month SOFR rate of 5.27% as of June 30, 2023.
Actual results could differ significantly from those estimated in the table.
10 unchanged sentences
+100 Basis Points
−Removed: (1) The table above does not include the effect of interest rate derivatives.
+Added: (1) The table above includes the effect of interest rate swaps.
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.