Item 3. Quantitative and Qualitative Disclosures About Market Risk

As of June 30, 2022, our long-term debt totaled $7.60 billion. We have no interest rate exposure to rate changes on our fixed rate debt, which totaled $6.40 billion as of June 30, 2022. We have interest rate exposure with respect to the $1.20 billion of our variable interest rate debt outstanding under our Revolving Credit Facility as of June 30, 2022. A 50-basis point increase in interest rates would impact our expected annual interest expense for the next 12 months by approximately $6.0 million.