Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 148

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 148
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 and recognized a $0.6 million loss.

Income from Equity Affiliates

Income from equity affiliates in 2025 primarily reflects $48.0 million of income recognized related to the cash distribution received from our Lexford joint venture; while income in 2024 primarily reflects a $4.9 million cash distribution received from Lexford, partially offset by losses from our investments in a residential mortgage banking business and AMAC III totaling $1.5 million.

Provision for Income Taxes

In the three months ended September 30, 2025, we recorded a tax provision of $7.6 million, which consisted of a current tax provision of $9.4 million and a deferred tax benefit of $1.8 million. In the three months ended September 30, 2024, we recorded a tax provision of $5.2 million, which consisted of a current tax provision of $7.2 million and a deferred tax benefit of $2.0 million. 

Net Income Attributable to Noncontrolling Interest

The noncontrolling interest relates to the outstanding OP Units (see Note 16). There were 16,173,761 and 16,293,589 OP Units outstanding at September 30, 2025 and 2024, respectively, which represented 7.6% and 8.0% of our outstanding stock at September 30, 2025 and 2024, respectively.

62

Comparison of Results of Operations for the Nine Months Ended September 30, 2025 and 2024

The following table provides our consolidated operating results ($ in thousands):

Nine Months Ended September 30, Increase / (Decrease) 2025 2024Amount Percent Interest income$703,997 $905,002 $(201,005)(22)%Interest expense521,564 624,613 (103,049)(16)%Net interest income182,433 280,389 (97,956)(35)%Other revenue:   Gain on sales, including fee-based services, net49,779 52,752 (2,973)(6)%Mortgage servicing rights34,598 37,928 (3,330)(9)%Servicing revenue, net82,692 92,577 (9,885)(11)%Property operating income14,028 4,521 9,507 nmGain (loss) on derivative instruments, net1,413 (4,711)6,