Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 306

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 306
---
 2025 and December 31, 2024, respectively, is included in other liabilities on the accompanying condensed consolidated balance sheets.The tables below summarize the activity of derivative instruments for the three months ended March 31, 2025 and 2024, respectively (dollar amounts in thousands):Notional Amount For the Three Months Ended March 31, 2025Type of Derivative InstrumentDecember 31, 2024AdditionsTerminationsMarch 31, 2025Interest rate caps$45,142 $45,142 $(45,142)$45,142 Options— 160 — 160 Interest rate swaps4,134,267 1,584,169 (1,224,060)4,494,376 Credit default swaps400,000 — — 400,000 U.S. Treasury futures406,100 112,500 (406,100)112,500 Notional Amount For the Three Months Ended March 31, 2024Type of Derivative InstrumentDecember 31, 2023Additions/Transfers In (1)TerminationsMarch 31, 2024Interest rate caps$550,025 $148,044 $(161,165)$536,904 Options— 202 (102)100 Interest rate swaps2,778,015 904,180 (305,450)3,376,745 Credit default swaps— 400,000 — 400,000 U.S. Treasury futures— 280,750 (255,450)25,300 (1)Includes a transfer from disposal group held for sale with respect to an interest rate cap held in a certain Consolidated Real Estate VIE (see Note 9).

34

The following table presents the components of realized gains (losses), net and unrealized gains (losses), net related to our derivative instruments, which are included in (losses) gains on derivative instruments, net in our condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024, respectively (dollar amounts in thousands):For the Three Months Ended March 31,20252024Type of Derivative InstrumentRealized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Interest rate caps (1)$— $(15)$— $2,806