Company: ARI
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0000950170-25-017122
Chunk: 78

Company: Apollo Commercial Real Estate Finance, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 7
Chunk 78
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    $
    189,507

    $
    243,643

    Net realized loss on investments(1)
     
    $
    (128,191
    )
     
    $
    (86,604
    )

    Gain on extinguishment of debt(2)

    —

    495

    Distributable Earnings
     
    $
    61,316

    $
    157,534

    Diluted Distributable Earnings per share prior to net realized loss on investments and gain on extinguishment of debt
     
    $
    1.33

    $
    1.69

    Diluted Distributable Earnings per share of common stock
     
    $
    0.43

    $
    1.09

    Weighted-average diluted shares - Distributable Earnings

    142,275,843

    144,213,570

(1)Net realized loss on investment for the year ended December 31, 2024 includes a realized loss of $127.5 million related to the Massachusetts Healthcare Loan and a $0.7 million loss on the sale of a commercial mortgage loan. Net realized loss on investment for the year ended December 31, 2023 includes (i) $4.8 million realized loss related to the acquisition of the hotel property in Atlanta, GA through a deed-in-lieu of foreclosure, (ii) $82.0 million realized loss representing a write-off of previously recorded Specific CECL Allowance on one of our subordinate loans secured by an ultra-luxury residential property in Manhattan, NY, (iii) $0.2 million net realized gain on loan sales. Refer to "Note 4 – Commercial Mortgage Loans, Subordinate Loans and Other Lending Assets, Net" for full discussion.

(2)$0.5 million realized gains on extinguishment of debt was recorded during the year ended December 31, 2023 in connection with partial repurchases of our 2023 Notes. See "Note 10 – Convertible Senior Notes, Net" for full discussion.

Book Value Per Share 

The following table calculates our book value per share ($ in thousands, except per share data):

    December 31, 2024

    December 31, 2023

    Stockholders' Equity
     
    $
    1,874,481

    $
    2,208,733

    Series B-1 Preferred Stock (Liquidation Preference)