Company: NLY-PF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036724
Chunk: 183

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 183
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 (dollars in thousands)Repurchase agreements$66,202,293 $339,085 $— $— $66,541,378 Interest expense on repurchase agreements (1)426,256 13,764 — — 440,020 Other secured financing250,000 775,000 — — 1,025,000 Interest expense on other secured financing (1)62,921 34,884 — — 97,805 Debt issued by securitization vehicles (principal)— — — 24,729,626 24,729,626 Interest expense on debt issued by securitization vehicles1,364,065 2,728,130 2,728,130 42,235,198 49,055,523 Participations issued (principal)— — — 1,511,584 1,511,584 Interest expense on participations issued107,272 214,545 214,545 2,661,928 3,198,290 Long-term operating lease obligations1,222 4,572 7,662 50,126 63,582 Total$68,414,029 $4,109,980 $2,950,337 $71,188,462 $146,662,808 (1) Interest expense on repurchase agreements and other secured financing calculated based on rates at June 30, 2025.

In the coming periods, we expect to continue to finance our Residential Securities in a manner that is largely consistent with our current operations via repurchase agreements. We may use securitization structures, credit facilities, or other term financing structures to finance certain of our assets. During the six months ended June 30, 2025, we received $3.8 billion from principal repayments and $9.5 billion in cash from disposal of Securities. During the six months ended June 30, 2024, we received $3.1 billion from principal repayments and $14.9 billion in cash from disposal of Securities.

Commitments and Contractual Obligations with Unconsolidated Entities

We do not have any commitments or contractual obligations arising from arrangements with unconsolidated entities that have or are reasonably likely to have a material effect on our financial condition, revenues or expenses, results of operations, liquidity,