Company: LEN
Filing Date: 2025-04-04
Form Type: 10-Q
Source: 0001628280-25-016792
Chunk: 67

Company: LENNAR CORP /NEW/
Filing Date: 2025-04-04
Form: 10-Q
Item: Item 1
Chunk 67
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As of February 28, 2025, our borrowings under Financial Services' warehouse repurchase facilities totaled $1.2 billion under residential facilities and $37.5 million under LMF Commercial facilities.

Information Regarding Interest Rate Sensitivity

Principal (Notional) Amount by

Expected Maturity and Average Interest Rate

February 28, 2025

Nine Months Ending November 30,Years Ending November 30,Fair Value at February 28,(Dollars in millions)202520262027202820292030ThereafterTotal2025LIABILITIES:Homebuilding:Senior Notes andother debt payable:Fixed rate$514.2 602.1 1,057.7 10.1 11.5 2.9 12.1 2,210.6 2,215.5 Average interest rate4.6 %4.3 %4.8 %3.0 %7.5 %5.6 %6.6 %4.7 %— Financial Services:Notes and otherdebt payable:Fixed rate $— — — — — — 124.7 124.7 125.2 Average interest rate— — — — — — 3.4 %3.4 %— Variable rate$1,269.1 3.4 — — — — — 1,272.5 1,272.5 Average interest rate5.9 %6.4 %— — — — — 5.9 %— 

For additional information regarding our market risk refer to Item 7A. Quantitative and Qualitative Disclosures About Market Risk in our Annual Report on Form 10-K for the fiscal year ended November 30, 2024.

Item 4. Controls and Procedures

Our Executive Chairman and Co-Chief Executive Officer, our Co-Chief Executive Officer and President (together, “Co-CEOs”) and our Chief Financial Officer (“CFO”) participated in an evaluation by our management of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on their participation in that evaluation, our Co-CEOs and CFO concluded that our disclosure controls and procedures were effective as of February 28, 2025 to ensure that information required to be