Item 3. Quantitative and Qualitative Disclosures About Market Risk

As of December 31, 2022, our long-term debt totaled $6.62 billion. We have no interest rate exposure to rate changes on our fixed rate debt, which totaled $6.37 billion as of December 31, 2022. We have interest rate exposure with respect to the $253.0 million of our variable interest rate debt outstanding under our Revolving Credit Facility as of December 31, 2022. A 50-basis point increase in interest rates would impact our expected annual interest expense for the next 12 months by approximately $1.3 million.

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