1 unchanged sentence
Our primary market risk exposure is that of interest rate risk.
−Removed: A change in LIBOR rates would affect our cost of borrowing.
+Added: A change in SOFR rates would affect our cost of borrowing.
Increases in interest rates, which may cause us to raise the implicit rates charged to our customers, could result in a reduction in demand for our leases.
1 unchanged sentence
As of December 31, 2023, $353.0 million of our outstanding debt is variable rate debt.
−Removed: We estimate that for every 1% increase or decrease in interest rate, the annual interest expense for our variable rate debt, would increase or decrease $2.3 million compared to $0.9 million in 2021.
+Added: We estimate that for every 1% increase or decrease in interest rate, the annual interest expense for our variable rate debt, would increase or decrease $0.5 million, as compared to $2.3 million as of December 31, 2022.
We hedge a portion of our borrowings from time to time, effectively fixing the rate of these borrowings.
13 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.