Company: NLY-PF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036724
Chunk: 276

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 276
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 and local55 1,491 1,087 1,372 Total deferred income tax expense (benefit)$440 $11,918 $8,694 $10,975 Total income tax expense (benefit)$440 $11,931 $8,707 $10,988 The difference between the Company's reported income tax provision and the U.S. federal statutory rate of 21.0% and state income tax rates is as follows:         For the Three Months EndedFor the Six Months Ended June 30, 2025June 30, 2024June 30, 2025June 30, 2024Statutory federal income tax rate21.0%21.0%21.0%21.0%Non-taxable REIT income(8.8%)258.9%(12.8%)(22.7%)State and local taxes3.0%3.0%3.0%3.0%VIE and Other(14.5%)102.2%(6.8%)1.0%Change in valuation allowance—%—%—%—%Total provision0.7%385.1%4.3%2.4%As of June 30, 2025, the Company recorded a net deferred tax asset of $81.4 million resulting primarily from loss carryforwards, securitization gains and unrealized losses on swaps, and a net deferred tax liability of $159.1 million resulting primarily from unrealized gains on MSR, which is included in Other assets and Other liabilities, respectively, in the Consolidated Statements of Financial Condition. As of June 30, 2025, no valuation allowance was established. As of June 30, 2025, the Company's TRSs had approximately $79.7 million of net operating loss carryforwards for federal income tax purposes which may be available to offset future taxable income, including approximately $7.9 million of net operating loss carryforwards that are subject to an annual limitation under Internal Revenue Code Section 382 and $71.8 million that can be carried forward indefinitely.As of June 30, 2025, the Company's TRSs had approximately $52.4 million of capital loss carryforwards for federal income tax purposes which can be carried back three years and forward up to five years to offset capital gains.

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ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIAR