2 unchanged sentences
We utilize forward commitments and option contracts to mitigate the risks associated with our mortgage loan portfolio.
−Removed: As of August 31, 2021, we had no outstanding borrowings under our Credit Facility.
−Removed: As of August 31, 2021, our borrowings under Financial Services' warehouse repurchase facilities totaled $900.3 million under residential facilities and $55.0 million under LMF Commercial facilities.
+Added: As of February 28, 2022, we had no outstanding borrowings under our Credit Facility.
+Added: As of February 28, 2022, our borrowings under Financial Services' warehouse repurchase facilities totaled $1.0 billion under residential facilities and $29.2 million under LMF Commercial facilities.
Information Regarding Interest Rate Sensitivity
1 unchanged sentence
Expected Maturity and Average Interest Rate
−Removed: August 31, 2021
−Removed: Three Months Ending November 30, Years Ending November 30, Fair Value at Aug 31,
+Added: February 28, 2022
+Added: Nine Months Ending November 30, Years Ending November 30, Fair Value at February 28,
(Dollars in millions) 2022 2023 2024 2025 2026 2027 Thereafter Total 2022
11 unchanged sentences
Average interest rate 2.1 % — 2.4 % — — — — 2.1 % —
−Removed: Lennar Other:
−Removed: Notes and other
−Removed: debts payable:
−Removed: Fixed rate $ 1.9 — — — — — — 1.9 1.9
−Removed: Average interest rate 3.0 % — — — — — — 3.0 % —
For additional information regarding our market risk refer to Item 7A.
1 unchanged sentence
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.