5 unchanged sentences
The Company's policy is to manage interest rate risk through a combination of fixed and variable rate debt.
−Removed: At June 30, 2020 , we had $11.2 billion of fixed-rate debt and $7.6 billion of variable-rate debt.
−Removed: An increase of 100 basis points in average annual interest rates on June 30, 2020 would have decreased the estimated fair value of our fixed-rate debt by $535 million as of such date and would have increased the annual interest expense on our variable-rate debt by $55 million .
−Removed: On July 2, 2020, our variable-rate debt increased to $11.6 billion .
−Removed: An increase of 100 basis points in average annual interest rates on July 2, 2020 would have increased the annual interest expense on our variable-rate debt by $75 million .
+Added: At September 30, 2020, we had $15 billion of fixed-rate debt and $12 billion of variable-rate debt.
+Added: An increase of 100 basis points in average annual interest rates on September 30, 2020 would have decreased the estimated fair value of our fixed-rate debt by approximately $823 million as of such date and would have increased the annual interest expense on our variable-rate debt by approximately $79 million.
As announced in July 2017, LIBOR is expected to be phased out by the end of 2021.
1 unchanged sentence
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.