2 unchanged sentences
We manage the interest rate risk on our corporate debt through the use of a combination of fixed-rate debt and interest rate swaps that fix a portion of our variable-rate debt.
−Removed: At June 30, 2025, after considering the impact of our interest rate swap agreement and excluding finance leases, the interest rate applicable to 76% (approximately $2.3 billion) of our total corporate debt was effectively fixed and the interest rate applicable to the remaining 24% (approximately $727 million) was variable.
−Removed: Assuming no outstanding balance on our Revolving Corporate Credit Facility, a 100 basis point increase in the underlying benchmark rate on our variable-rate debt at June 30, 2025 would result in an increase of approximately $5 million in annual cash interest due to the impact of our hedging arrangements discussed in Footnote 12 “Debt” to our Financial Statements.
−Removed: Assuming we had no outstanding hedging arrangements and no outstanding balance on our Revolving Corporate Credit Facility, a 100 basis point increase in the underlying benchmark rate on our variable-rate debt at June 30, 2025 would result in an annual increase in cash interest of approximately $8 million.
−Removed: The following table presents the scheduled maturities and the total fair value as of June 30, 2025 for our financial instruments that are impacted by market risks:
+Added: At September 30, 2025, after considering the impact of our interest rate swap agreement and excluding finance leases, the interest rate applicable to 85% (approximately $2.9 billion) of our total corporate debt was effectively fixed and the interest rate applicable to the remaining 15% (approximately $490 million) was variable.
+Added: Assuming no outstanding balance on our Revolving Corporate Credit Facility, a 100 basis point increase in the underlying benchmark rate on our variable-rate debt at September 30, 2025 would result in an increase of approximately $5 million in annual cash interest due to the impact of our hedging arrangements discussed in Footnote 12 “Debt” to our Financial Statements.
+Added: Assuming we had no outstanding hedging arrangements and no outstanding balance on our Revolving Corporate Credit Facility, a 100 basis point increase in the underlying benchmark rate on our variable-rate debt at September 30, 2025 would result in an annual increase in cash interest of approximately $8 million.
+Added: The following table presents the scheduled maturities and the total fair value as of September 30, 2025 for our financial instruments that are impacted by market risks:
($ in millions) Average
12 unchanged sentences
6.4% $ (2) $ (8) $ (8) $ (8) $ (8) $ (756) $ (790) $ (790)
−Removed: Revolving Corporate Credit Facility 5.9% $ — $ — $ — $ — $ — $ (235) $ (235) $ (235)
2028 Notes 4.8% $ — $ — $ — $ (350) $ — $ — $ (350) $ (345)
2029 Notes 4.5% $ — $ — $ — $ — $ (500) $ — $ (500) $ (482)
+Added: 6.5% $ — $ — $ — $ — $ — $ (575) $ (575) $ (574)
2026 Convertible Notes 0.0% $ — $ (575) $ — $ — $ — $ — $ (575) $ (567)
2027 Convertible Notes 3.3% $ — $ — $ (575) $ — $ — $ — $ (575) $ (551)
−Removed: (1) During the first quarter of 2025, we amended the Corporate Credit Facility to provide for a Delayed-Draw Term Loan that is only available to finance the redemption or repurchase of our 2026 Convertible Notes, which are due January 15, 2026.
−Removed: As of June 30, 2025, there were no outstanding borrowings on the Delayed-Draw Term Loan.
−Removed: See Footnote 12 “Debt” to our Financial Statements for further information.
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.