Company: PGYWW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001883085-25-000050
Chunk: 50

Company: Pagaya Technologies Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 50
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The amortized cost, gross unrealized gains and losses and fair value of investments in loans and securities as of December 31, 2024 and 2023 were as follows (in thousands). As provided in Note 8, a portion of these investments in loans and securities are consolidated as a result of the Company’s determination that it is the primary beneficiary of certain VIEs.

F-24

Table of Contents

As of December 31, 2024Investments in loans and securities, available for sale(1):Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair ValueSecuritization notes$238,081 $386 $(509)$— $237,958 Securitization certificates1,037,389 7,926 (14,676)(508,741)521,898 Other loans and receivables5,816 — — (1,553)4,263 Total$1,281,286 $8,312 $(15,185)$(510,294)$764,119 (1) Excludes accrued interest receivable of $13.7 million included in Fees and other receivables.As of December 31, 2023Investments in loans and securities, available for sale(1):Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair ValueSecuritization notes$91,654 $629 $(1,858)$— $90,425 Securitization certificates715,646 18,684 (11,578)(98,679)624,073 Other loans and receivables 4,574 — — (2,279)2,295 Total$811,874 $19,313 $(13,436)$(100,958)$716,793 (1) Excludes accrued interest receivable of $12.5 million included in Fees and other receivables. The following tables set forth the fair value and gross unrealized losses on investments in loans and securities without an allowance for credit losses aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position, as of the dates indicated (in thousands):As of December 31, 2024Less than or equal to 1 yearGreater than 1 yearTotalInvestments in loans and