Company: NLY-PF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036724
Chunk: 30

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 30
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, compared to $11.5 million for the same period in 2024, partially offset by a favorable change in net gains (losses) on TBA derivatives, which was $17.0 million for the three months ended June 30, 2025, compared to ($0.3) million for the same period in 2024.

50

ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 2. Management’s Discussion and Analysis 

Other, Net 

Other, net includes brokerage and commission fees, due diligence costs, securitization expenses, and interest on custodial balances. We also report in Other, net items whose amounts, either individually or in the aggregate, would not, in the opinion of management, be meaningful to readers of the financial statements. Given the nature of certain components of this line item, balances may fluctuate from period to period. Other, net for the three months ended June 30, 2025 was $15.8 million, compared to $24.8 million for the same period in 2024, primarily attributable to a decrease in net interest income on initial margin related to interest rate swaps, an increase in MSR financing expenses and servicing fees on loans, partially offset by an increase in interest on custodial balances, advisory income, and earnings from unconsolidated joint ventures.

For the Six Months Ended June 30, 2025 and 2024 

Net Gains (Losses) on Investments and Other

Net gains (losses) on disposal of investments and other was ($132.8) million for the six months ended June 30, 2025, compared to ($881.9) million for the same period in 2024. For the six months ended June 30, 2025, we disposed of Residential Securities with a carrying value of $8.5 billion for an aggregate net gain (loss) of ($80.4) million. For the same period in 2024, we disposed of Residential Securities with a carrying value of $13.3 billion for an aggregate net gain (loss) of ($813.2) million.

Realized gains (losses) on U.S. Treasury securities sold, not yet purchased was $43.8 million for the six months ended June 30, 2025, compared to ($8.9) million for the same period in 2024.

Net unrealized gains (losses) on instruments measured at fair value through earnings was $