Company: CIMO
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023813
Chunk: 196

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 196
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31, 2025 and December 31, 2024, respectively. As a result of our operating, investing and financing activities described below, our cash position increased by $169 million from December 31, 2024 to March 31, 2025.

Our operating activities provided net cash of approximately $49 million and $57 million for the quarters ended March 31, 2025 and 2024, respectively. The cash flows from operations were primarily driven by interest received in excess of interest paid of $63 million and $68 million during the quarters ended March 31, 2025 and 2024, respectively. 

Our investing activities used cash of $175 million and provided cash of $248 million for the quarters ended March 31, 2025 and 2024, respectively. During the quarter ended March 31, 2025, we used cash to purchase $150 million Agency MBS, $403 million Loans held for investment, which were offset by cash received for principal repayments on Agency MBS, Non-Agency RMBS and Loans held for investment of $378 million, collectively. During the quarter ended March 31, 2024, we received cash for  principal repayments on Agency MBS, Non-Agency RMBS and Loans held for investment of $325 million, collectively and from the sale of our Agency MBS of $35 million. This cash received was offset in part by cash used on investment purchases of $78 million of Loans held for investment and $34 million of Non-Agency RMBS. 

Our financing activities provided cash of $296 million and used cash of $358 million for the quarters ended March 31, 2025 and 2024, respectively. During the quarter ended March 31, 2025, we received cash from net proceeds on our secured financing agreements of $164 million, and proceeds received from our secured debt borrowings of $780 million. This cash received was offset in part by cash used for repayment of principal on our securitized debt of $597 million, and payment of common and preferred dividends of $52 million. During the quarter ended March 31, 2024, we primarily used cash for repayment of principal on our securitized debt of $273 million, net payments on our secured financing agreements of $40 million, and payment of common and preferred dividends of $45 million.

Our recourse leverage was 1.2:1 at March 31, 2025 and