Company: NLY-PF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023811
Chunk: 250

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 250
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ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 1.  Financial Statements

15.  NET INCOME (LOSS) PER COMMON SHAREThe following table presents a reconciliation of net income (loss) and shares used in calculating basic and diluted net income (loss) per share for the three months ended March 31, 2025 and 2024. For the Three Months Ended March 31, 2025March 31, 2024 (dollars in thousands, except per share data)Net income (loss)$130,305 $465,174 Net income (loss) attributable to noncontrolling interests6,081 2,282 Net income (loss) attributable to Annaly 124,224 462,892 Dividends on preferred stock37,157 37,061 Net income (loss) available (related) to common stockholders$87,067 $425,831 Weighted average shares of common stock outstanding-basic587,149,704 500,612,840 Add: Effect of stock awards, if dilutive1,271,294 569,203 Weighted average shares of common  stock outstanding-diluted588,420,998 501,182,043 Net income (loss) per share available (related) to common shareBasic$0.15 $0.85 Diluted$0.15 $0.85                            

There were no potentially dilutive restricted stock units or performance stock units for the three months ended March 31, 2025. The computations of diluted net income (loss) per share available (related) to common share for the three months ended March 31, 2024 exclude 1.5 million of potentially dilutive restricted stock units and performance stock units because their effect would have been anti-dilutive. 

16.  INCOME TAXESFor the three months ended March 31, 2025, the Company was qualified to be taxed as a REIT under Code Sections 856 through 860. As a REIT, the Company will not incur federal income tax to the extent that it distributes its taxable income to its stockholders. To maintain qualification as a REIT, the Company must distribute at least 90% of its annual REIT taxable income to its stockholders and meet certain other requirements that relate to, among other things, assets it may hold, income it may generate and