Company: CIMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006426
Chunk: 432

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 432
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curitizations with long-term, limited, or, when conditions are appropriate, non-MTM finance facilities. We currently have 48% of our recourse financing with these types of facilities. To further manage our interest rate risk, we intend to use financial derivatives such as futures, interest rate swaps and swaptions to hedge against securitization executions and net interest margin compression.

44

Business Operations

Net Income (Loss) Summary

The table below presents our net income (loss) on a GAAP basis for the years ended December 31, 2024, 2023 and 2022. 

Net Income (Loss)(dollars in thousands, except share and per share data)For the Years EndedDecember 31, 2024December 31, 2023December 31, 2022Net interest income:Interest income (1)$760,950 $772,904 $773,121 Interest expense (2)496,274 509,541 333,293 Net interest income264,676 263,363 439,828 Increase (decrease) in provision for credit losses9,838 11,371 7,037 Other income (losses): Net unrealized gains (losses) on derivatives2,963 (6,411)(1,482)Realized gains (losses) on derivatives(21,540)(40,957)(561)Periodic interest cost of swaps, net23,780 17,167 (1,752)Net gains (losses) on derivatives5,203 (30,201)(3,795)Investment management and advisory fees2,710 — — Net unrealized gains (losses) on financial instruments at fair value10,811 34,373 (736,899)Net realized gains (losses) on sales of investments(5,219)(31,234)(76,473)Gains (losses) on extinguishment of debt— 3,875 (2,897)Other investment gains (losses)9,543 1,091 (1,866)Total other income (losses)23,048 (22,096)(821,930)Other expenses:Compensation and benefits (3)41,364 30,570 49,378 General and administrative expenses23,201 25,117 22,651 Servicing and asset manager fees29,795 32