9 unchanged sentences
Treasury rates, LIBOR, and commercial paper rates in the U.S.
−Removed: The Financial Conduct Authority in the United Kingdom has stated that it will not require banks to submit LIBOR beyond calendar year 2021.
−Removed: We do not anticipate a significant impact to our financial position as a result of this action given our current mix of fixed- and variable-rate debt.
We utilize derivative instruments to manage interest rate risk associated with anticipated debt transactions, as well as to manage changes in the fair value of our long-term debt.
At the inception of an interest rate contract, the instrument is evaluated and documented for qualifying hedge accounting treatment.
−Removed: If the contract is designated as a cash flow hedge, the mark-to-market gains or losses on the contract are deferred and included as a component of accumulated other comprehensive income (loss), and reclassified to interest expense in the period during which the hedged transaction affects earnings.
+Added: If the contract is designated as a cash flow hedge, the mark-to-market gains or losses on the contract are typically deferred and included as a component of accumulated other comprehensive income (loss) and reclassified to interest expense in the period during which the hedged transaction affects earnings.
If the contract is designated as a fair value hedge, the contract is recognized at fair value on the balance sheet, and changes in the fair value are recognized in interest expense.
3 unchanged sentences
The termination resulted in a pre-tax loss of $239.8, which was deferred and included as a component of accumulated other comprehensive income (loss) and is being amortized as interest expense over the life of the debt.
+Added: In 2018, we terminated a treasury lock concurrent with the pricing of the Senior Notes due December 15, 2027, which was designated as a cash flow hedge and used to manage our exposure to interest rate volatility.
+Added: The termination resulted in a pre-tax gain of $ 2.7 , which was deferred and included as a component of accumulated other comprehensive income (loss) and is being amortized as a reduction to interest expense over the life of the debt.
In 2015, we terminated the interest rate swap on the Senior Notes due October 15, 2021, which was designated as a fair value hedge and used to hedge against the changes in the fair value of the debt.
−Removed: As a result of the early termination, we received $58.1 in cash, which included $4.6 of accrued and prepaid interest and a $53.5 benefit that was deferred as a component of the carrying value of the long-term debt and is being recognized ratably as a reduction to interest expense over the life of the debt.
−Removed: At April 30, 2021, the remaining benefit of $4.0 was recorded as an increase in the long-term debt balance.
+Added: As a result of the early termination, we received $58.1 in cash, which included $4.6 of accrued and prepaid interest.
+Added: The gain on termination was recorded as an increase in the long-term debt balance and was recognized over the life of the debt as a reduction of interest expense.
+Added: As of the second quarter of 2022, we had fully recognized the gain of $53.5, of which $4.0 was recognized in 2022.
In measuring interest rate risk by the amount of net change in the fair value of our financial liabilities, a hypothetical
28 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.