7 unchanged sentences
As a result, interest rate risk and changes in fair value should not have a significant impact on our fixed-rate debt until we are required or elect to refinance or repurchase such debt.
−Removed: The following table sets forth the principal cash flows by scheduled maturity, weighted-average interest rates, and estimated fair value of our debt obligations as of September 30, 2025 ($000’s omitted):
−Removed: As of September 30, 2025 for the
+Added: The following table sets forth the principal cash flows by scheduled maturity, weighted-average interest rates, and estimated fair value of our debt obligations as of March 31, 2026 ($000’s omitted):
+Added: As of March 31, 2026 for the
Years ending December 31,
5 unchanged sentences
Average interest rate 5.43 % — % — % — % — % — % 5.43 %
−Removed: (a) Includes the Repurchase Agreement and amounts outstanding under our Revolving Credit Facility, under which there was no amount outstanding at September 30, 2025 .
+Added: (a) Includes the Repurchase Agreement and amounts outstanding under our Revolving Credit Facility, under which there was no amount outstanding at March 31, 2026 .
Qualitative disclosure
7 unchanged sentences
interest rate changes and the availability of mortgage financing;
−Removed: the impact of any changes to our strategy in responding to the cyclical nature of the industry or deteriorations in industry changes or downward changes in general economic or other business conditions, including any changes regarding our land positions and the levels of our land spend;
−Removed: economic changes nationally or in our local markets, including inflation, deflation, changes in consumer confidence and preferences and the state of the market for homes in general;
+Added: the impact of any changes to our strategy in responding to the cyclical nature of the industry or deteriorations in industry conditions or downward changes in general economic or other business conditions, including any changes regarding our land positions and the levels of our land spend;
+Added: economic changes nationally or in our local markets, including inflation,
+Added: deflation, changes in consumer confidence and preferences and the state of the market for homes in general;
supply shortages and the cost of labor and building materials;
18 unchanged sentences
the impairment of our intangible assets;
−Removed: the disruptions associated with the COVID-19 pandemic (or another epidemic or pandemic or similar public threat or fear of such an event), and the measures taken to address it;
−Removed: the effect of cybersecurity incidents and threats;
+Added: disruptions associated with epidemics, pandemics or other serious public health threats (as well as fear of such events), and the measures taken to address it;
and other factors of national, regional and global scale, including those of a political, economic, business and competitive nature.
−Removed: See Item 1A – Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, for a further discussion of these and other risks and uncertainties applicable to our
+Added: See Item 1A – Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, for a further discussion of these and other risks and uncertainties applicable to our businesses.
We undertake no duty to update any forward-looking statement, whether as a result of new information, future events or changes in our expectations.
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.