1 unchanged sentence
Our operations are interest rate sensitive.
−Removed: As overall housing demand is adversely affected by increases in interest rates, a significant increase in mortgage rates may negatively affect the ability of homebuyers to secure adequate financing.
+Added: As overall housing demand is adversely affected by increases in interest rates, a significant increase in mortgage interest rates may negatively affect the ability of homebuyers to secure adequate financing.
Higher interest rates could adversely affect our revenues, gross margin and net income.
5 unchanged sentences
We are exposed to market risks related to fluctuations in interest rates on our outstanding variable rate indebtedness.
−Removed: As of September 30, 2025, we had $623.6 million of variable rate indebtedness outstanding under the Credit Agreement.
+Added: As of March 31, 2026, we had $578.9 million of variable rate indebtedness outstanding under the Credit Agreement.
All of the outstanding borrowings under the Credit Agreement are at variable rates based on SOFR.
−Removed: The interest rate for our variable rate indebtedness as of September 30, 2025 was SOFR plus 1.95%.
−Removed: At September 30, 2025, SOFR was 4.16%, subject to the 0.50% SOFR floor as included in the Credit Agreement.
+Added: The interest rate for our variable rate indebtedness as of March 31, 2026 was SOFR plus 1.85%.
+Added: At March 31, 2026, SOFR was 3.67%, subject to the 0.50% SOFR floor as included in the Credit Agreement.
A hypothetical 100 basis point increase in the average interest rate above the SOFR floor on our variable rate indebtedness would increase our annual interest cost by approximately $5.8 million.
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.