Company: NLY-PF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023811
Chunk: 129

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 129
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 the three months ended March 31, 2025 was as follows:Operating LeasesClassificationMarch 31, 2025Assets(dollars in thousands)Operating lease right-of-use assetsOther assets$27,523 LiabilitiesOperating lease liabilities (1)Other liabilities$28,106 Lease term and discount rateWeighted average remaining lease term16.8 yearsWeighted average discount rate (1)7.0%Cash paid for amounts included in the measurement of lease liabilities   Operating cash flows from operating leases$1,028 (1) For the Company’s leases that do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at adoption date in determining the present value of lease payments.The following table provides details related to maturities of lease liabilities:Maturity of Lease LiabilitiesYears ending December 31,(dollars in thousands)2025 (remaining)$2,121 2026261 20272,503 20283,854 20293,831 Later years52,041 Total lease payments$64,611 Less imputed interest36,505 Present value of lease liabilities$28,106 

33

ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 1.  Financial Statements

ContingenciesFrom time to time, the Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material effect on the Company’s consolidated financial statements. There were no material contingencies at March 31, 2025 and December 31, 2024.

20.  SUBSEQUENT EVENTSIn April 2025, the Company completed and closed two securitizations of residential mortgage loans, OBX 2025-NQM6, with a face value of $553.2 million, and OBX 2025-NQM7, with a face value of $572.4 million. These securitizations represent  financing transactions which provided non-recourse financing to the Company collateralized by residential mortgage loans purchased by the Company.In April 2025, the Company upsized capacity of an existing credit facility by $100 million for the Company’s residential mortgage loans.On May 8, 2025, the Company entered into separate Distribution Agency Agreements with certain sales agents, which agreements terminated and replaced the Prior Sales Agreements. For additional information, see “Part II