Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 112

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 112
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 million for real estate, net in the disposal group held for sale, inclusive of losses recognized upon transfer into disposal group held for sale. During the years ended December 31, 2023 and 2022, the Company recognized net impairment losses of $89.5 million and $2.4 million, respectively. See Note 17 for descriptions of valuation methodologies utilized for other classes of assets and liabilities of disposal group held for sale.The following table presents the pretax losses of the disposal group held for sale as of December 31, 2024 for the years ended December 31, 2024, 2023 and 2022, respectively (dollar amounts in thousands):For the Years Ended December 31,202420232022Pretax loss of disposal group held for sale$(59,170)$(124,183)$(53,813)Pretax loss of disposal group attributable to non-controlling interest in Consolidated VIEs6,712 11,870 5,784 Pretax loss of disposal group attributable to Company's common stockholders$(52,458)$(112,313)$(48,029)

F-47

10.      Derivative InstrumentsThe Company is exposed to certain risks arising from both its business operations and economic conditions.  The Company enters into derivative financial instruments in connection with its risk management activities. These derivative instruments may include interest rate swaps, interest rate caps, credit default swaps, futures and options contracts such as options on credit default swap indices, equity index options, swaptions and options on futures. The Company may also pursue forward-settling purchases or sales of Agency RMBS where the underlying pools of mortgage loans are “To-Be-Announced,” or TBAs, purchase options on U.S. Treasury futures or invest in other types of mortgage derivative securities. The Company elected not to apply hedge accounting for its derivative instruments. The following table summarizes the Company's derivative instruments as of December 31, 2024 and 2023, respectively (dollar amounts in thousands):Fair ValueType of Derivative InstrumentConsolidated Balance Sheet LocationDecember 31, 2024December 31, 2023Interest rate capsOther assets$56 $6,510 Interest rate swapsOther assets— — U.S. Treasury futuresOther assets— — Total derivative assets (1)$56 $6,510 Credit default swapsOther liabilities$— $— Interest rate swapsOther liabilities— — Total