Company: NLY-PF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023811
Chunk: 112

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 112
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 2024Discount rate6.2% - 12.2% (8.2%)7.4% - 12.4% (8.4%)Prepayment rate4.4% - 21.3% (5.5%)4.7% - 17.2% (5.6%)Delinquency rate0.2% - 3.9% (1.2%)0.2% - 4.1% (1.3%)Cost to service$83 - $98 ($87)$83 - $99 ($87)(1) Represents rates, estimates and assumptions that the Company believes would be used by market participants when valuing these assets.(2) Weighted average discount rate computed based on the fair value of MSR, weighted average prepayment rate, delinquency rate and cost to service based on unpaid principal balances of loans underlying the MSR.The following table summarizes the estimated fair values for financial assets and liabilities that are not carried at fair value at March 31, 2025 and December 31, 2024. March 31, 2025December 31, 2024 CarryingValueFairValueCarryingValueFairValueFinancial liabilitiesRepurchase agreements$61,659,460$61,659,460$65,688,923$65,688,923Other secured financing900,000900,000750,000750,000 The carrying values of repurchase agreements and short term other secured financing approximate fair value and are considered Level 2 fair value measurements. Long term other secured financing is valued using Level 2 inputs.

11.  INTANGIBLE ASSETSIntangible assets, netFinite life intangible assets are amortized over their expected useful lives. As part of the Company’s management internalization transaction, which closed on June 30, 2020, the Company recognized an intangible asset for the acquired assembled workforce of approximately $41.2 million based on the replacement cost of the employee base acquired by the Company. 

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ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 1.  Financial Statements

The following table presents the activity of finite lived intangible assets for the three months ended March 31, 2025.Intangible Assets, net(dollars in thousands)Beginning balance January 1, 2025$9,416 Less: amortization expense(673)Ending balance March 31, 2025$8,743 

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