Company: NLY-PF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036724
Chunk: 176

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 176
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%June 30, 2024$83,461 0.18%1.47%

G&A expenses were $50.0 million for the three months ended June 30, 2025, an increase of $5.1 million compared to the same period in 2024. The change in the period was primarily due to an increase in compensation expenses and higher expenses related to rent, professional fees and technology.

G&A expenses were $98.1 million for the six months ended June 30, 2025, an increase of $14.6 million compared to the same period in 2024. The change in the period was primarily due to an increase in compensation expenses and higher expenses related to rent, professional fees and technology.

Return on Average Equity

The following table shows the components of our annualized return on average equity for the periods presented.

Components of Annualized Return on Average Equity

 Economic Net Interest Income/ Average Equity (1)Net Servicing Income/Average EquityOther Income (Loss)/Average Equity (2)G&A Expenses/ Average EquityIncomeTaxes/ Average EquityReturn onAverage EquityFor the three months ended      June 30, 202513.82%3.83%(14.31%)(1.51%)(0.01%)1.82%June 30, 202412.37%3.79%(14.47%)(1.58%)(0.42%)(0.31%)For the six months ended      June 30, 202513.30%3.87%(12.63%)(1.50%)(0.13%)2.91%June 30, 202411.89%3.71%(5.91%)(1.47%)(0.19%)8.03%(1) Economic net interest income includes the net interest component of interest rate swaps and net interest on initial margin related to interest rate swaps, which is reported in Other, net in the Company’s Consolidated Statements of Comprehensive Income (Loss). Net interest on variation margin related to interest rate swaps is included in the Net interest component of interest rate swaps in the Company's Consolidated Statements of Comprehensive Income (Loss).(2) Other income (loss) excludes the net interest component of interest rate swaps.

Unrealized Gains and Losses - Available-for-Sale Investments

The unrealized fluctuations in market values of our available-for-sale Agency MBS, for which the fair value option is