Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 17

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 for credit losses of securities, for the periods indicated (in thousands):Three Months Ended March 31,20252024Investments in loans and securities, available for sale:Proceeds from sales/maturities/prepayments$58,674 $38,658 Gross investment gains from sales and maturities$(5,894)$— Write-offs charged against the allowance$436 $1,449 Reductions (additions) to allowance for credit losses$43,338 $(26,851)The following tables set forth the activity in the allowance for credit losses for investments in loans and securities, as of the dates indicated (in thousands):Three Months Ended March 31, 2025Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$— $(508,741)$(1,553)$(510,294)Additions to allowance for credit losses not previously recorded(2,873)(23,558)— (26,431)Reductions for securities sold during the period— 78,355 — 78,355 Additions (reductions) on securities with previous allowance— (8,492)(94)(8,586)Write-offs charged against the allowance— — 436 436 Balance, end of period$(2,873)$(462,436)$(1,211)$(466,520)Three Months Ended March 31, 2024Securitization notesSecuritization certificatesOther Loans and ReceivablesTotalBalance, beginning of period$— $(98,679)$(2,279)$(100,958)Additions to allowance for credit losses not previously recorded— (2,965)— (2,965)Additions to the allowance for credit losses arising from purchases — — (3,246)(3,246)Additions (reductions) on securities with previous allowance— (19,705)(935)(20,640)Write-offs charged against the allowance— — 1,449 1,449 Balance, end of period$— $(121,349)$(5,011)$(126,360)

14

Equity Method and Other Investments The following investments, including those accounted for under the equity method, are included within Equity method and other investments in the consolidated balance sheets as of March 31, 2025 and December 31, 2024 (in thousands):