Item 3. Quantitative and Qualitative Disclosures About Market Risk

As of September 30, 2021, our long-term debt totaled $8.41 billion. We have no interest rate exposure to rate changes on our fixed rate debt, which totaled $6.60 billion as of September 30, 2021. We do have interest rate exposure with respect to the $1.81 billion of our variable interest rate debt outstanding as of September 30, 2021. A 50 basis point increase in interest rates would impact our expected annual interest expense for the next 12 months by approximately $9.0 million.