Company: PGYWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001883085-25-000195
Chunk: 23

Company: Pagaya Technologies Ltd.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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766 Additions (reductions) on securities with previous allowance— (17,856)(191)(18,047)Write-offs charged against the allowance— — 804 804 Balance, end of period$(2,873)$(433,461)$(940)$(437,274)Three Months Ended September 30, 2024Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$— $(174,077)$(4,053)$(178,130)Additions to allowance for credit losses not previously recorded— (21,118)— (21,118)Additions (reductions) on securities with previous allowance— (55,930)(2,123)(58,053)Write-offs charged against the allowance— — 4,810 4,810 Recoveries of amounts previously written off— — (443)(443)Balance, end of period$— $(251,125)$(1,809)$(252,934)Nine Months Ended September 30, 2024Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$— $(98,679)$(2,279)$(100,958)Additions to allowance for credit losses not previously recorded— (112,263)— (112,263)Additions to the allowance for credit losses arising from purchases — — (3,246)(3,246)Additions (reductions) on securities with previous allowance— (40,183)(3,393)(43,576)Write-offs charged against the allowance— — 7,109 7,109 Recoveries of amounts previously written off— — — — Balance, end of period$— $(251,125)$(1,809)$(252,934)

17

Investments in securities, under the fair value optionThe fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs.  If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. We elected the fair value option to measure certain securities, as we believe that fair value best reflects the economic transaction of investing in certain new securities. We determined the fair value of certain securities