Company: NLY-PF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023811
Chunk: 7

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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 in accordance with GAAP, we provide non-GAAP financial measures to enhance investor understanding of our period-over-period operating performance and business trends, as well as for assessing our performance versus that of industry peers.

Refer to the “Non-GAAP Financial Measures” section for additional information.

39

ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 2. Management’s Discussion and Analysis 

Net Income (Loss) Summary

The following table presents financial information related to our results of operations as of and for the three months ended March 31, 2025 and 2024.

 As of and for the Three Months Ended March 31, 20252024 (dollars in thousands, except per share data)Interest income$1,317,108 $1,094,488 Interest expense1,097,137 1,100,939 Net interest income219,971 (6,451)Servicing and related income140,435 115,084 Servicing and related expense14,113 12,216 Net servicing income126,322 102,868 Other income (loss)(159,657)406,384 Less: Total general and administrative expenses48,064 38,570 Income (loss) before income taxes138,572 464,231 Income taxes8,267 (943)Net income (loss)130,305 465,174 Less: Net income (loss) attributable to noncontrolling interests6,081 2,282 Net income (loss) attributable to Annaly124,224 462,892 Less: Dividends on preferred stock37,157 37,061 Net income (loss) available (related) to common stockholders$87,067 $425,831 Net income (loss) per share available (related) to common stockholdersBasic$0.15 $0.85 Diluted$0.15 $0.85 Weighted average number of common shares outstandingBasic587,149,704 500,612,840 Diluted588,420,998 501,182,043 Other informationInvestment portfolio at period-end$101,959,102 $87,484,541 Average total assets$104,335,865 $92,355,391 Average equity$12,890,730 $11,420,602 GAAP leverage at period-end (1)6.