3 unchanged sentences
Since November 30, 2025, there have been no material changes in market risk exposures associated with interest rate risk.
−Removed: In May 2025, we issued $700 million in aggregate principal amount of 5.20% senior notes due 2030.
−Removed: In May 2025, we paid off $500 million aggregate principal amount of our 4.75% senior notes due May 2025.
−Removed: As of August 31, 2025, we had $1.1 billion of outstanding borrowings under our Credit Facility.
−Removed: As of August 31, 2025, our borrowings under Financial Services' warehouse repurchase facilities totaled $1.7 billion under residential facilities and $57.3 million under LMF Commercial facilities.
+Added: As of February 28, 2026, we had no outstanding borrowings under our Credit Facility.
+Added: As of February 28, 2026, our borrowings under Financial Services' warehouse repurchase facilities totaled $1.0 billion under residential facilities and $61.0 million under LMF Commercial facilities.
Information Regarding Interest Rate Sensitivity
1 unchanged sentence
Expected Maturity and Average Interest Rate
−Removed: August 31, 2025
−Removed: Three Months Ending November 30, Years Ending November 30, Fair Value at August 31,
+Added: February 28, 2026
+Added: Nine Months Ending November 30, Years Ending November 30, Fair Value at February 28,
(Dollars in millions) 2026 2027 2028 2029 2030 2031 Thereafter Total 2026
1 unchanged sentence
Senior Notes and
−Removed: other debt payable:
+Added: other debts payable:
Fixed rate $ 439.4 1,083.5 113.3 11.5 701.9 11.6 — 2,361.2 2,396.2
3 unchanged sentences
Financial Services:
−Removed: Notes and other debt payable:
+Added: Notes and other
+Added: debts payable:
Fixed rate $ — — — — — — 121.4 121.4 121.8
5 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.