Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 428

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 428
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 companies.  

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The following table provides a reconciliation of our GAAP net income/(loss) used in the calculation of basic EPS to our non-GAAP Distributable earnings for the quarterly periods below:  

Quarter Ended(In Thousands, Except Per Share Amounts)December 31, 2024September 30, 2024June 30, 2024March 31, 2024December 31, 2023September 30, 2023June 30, 2023March 31, 2023GAAP Net income/(loss) used in the calculation of basic EPS$(2,396)$39,870 $33,614 $14,827 $81,527 $(64,657)$(34,146)$64,565 Adjustments:Unrealized and realized gains and losses on:Residential whole loans held at fair value 102,339 (143,416)(16,430)11,513 (224,272)132,894 130,703 (129,174)Securities held at fair value 26,273 (17,107)4,026 4,776 (21,371)13,439 3,698 (2,931)Residential whole loans and securities at carrying value— (7,324)(2,668)(418)332 — — — Interest rate swaps(46,632)84,629 10,237 (23,182)97,400 (9,433)(37,018)40,747 Securitized debt held at fair value(47,267)71,475 7,597 20,169 108,693 (40,229)(30,908)48,846 Other portfolio investments(94)1,503 1,484 — 254 722 872 — Expense items:Amortization of intangible assets800 800 800 800 800 800 1,300 1,300 Equity based compensation1,637 2,104 3,899 6,243 3,635 4,447 3,932 3,020 Securitization-related transaction costs5,252 3,485 3,009 1,340 2,702 3,217 2,071 4,602 Depreciation938 2,604 822 889