Risk Factors Update Summary
- Increased interest rates: Federal Reserve raised rates 11 times in 2023, compared to 7 times in 2022.
- Pricing adjustments: Adjusted pricing in 2022 and 2023, offering finance incentives and discounts.
- Cancellation rate: Decreased cancellation rate from 13.5% in 2022 to 12.1% in 2023.
- Debt increase: Total debt increased from $2.0 billion in 2022 to $2.5 billion in 2023.
- Joint ventures: Total investments in unconsolidated joint ventures were $346.2 million as of December 31, 2023.
- Legal claims: Face substantial damages or injunctions from litigation, including club membership fee claims.
- Climate change impact: Regulations and climate change may make the company vulnerable to physical impacts.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1562476&owner=exclude
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