Company: CIMO
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023813
Chunk: 186

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 186
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 taxable income (subject to certain adjustments) annually. Earnings available for distribution, however, is different than REIT taxable income, and the determination of whether we have met the requirement to distribute at least 90% of our annual REIT taxable income is not based on Earnings available for distribution. Therefore, Earnings available for distribution should not be considered as an indication of our REIT taxable income, a guaranty of our ability to pay dividends, or as a proxy for the amount of dividends we may pay. We believe Earnings available for distribution helps us and investors evaluate our financial performance period over period without the impact of certain non-recurring transactions. Therefore, Earnings available for distribution should not be viewed in isolation and is not a substitute for or superior to net income or net income per basic share computed in accordance with GAAP. In addition, our methodology for calculating Earnings available for distribution may differ from the methodologies employed by other REITs to calculate the same or similar supplemental performance measures, and accordingly, our Earnings available for distribution may not be comparable to the Earnings available for distribution reported by other REITs. 

The following table provides GAAP measures of net income and net income per diluted share available to common stockholders for the periods presented and details with respect to reconciling the line items to Earnings available for distribution and related per average diluted common share amounts. Earnings available for distribution is presented on an adjusted dilutive shares basis.

 For the Quarters Ended March 31, 2025December 31, 2024September 30, 2024June 30, 2024March 31, 2024 (dollars in thousands, except per share data)GAAP Net income (loss) available to common stockholders$145,940 $(168,275)$113,672 $33,913 $111,016 Adjustments (1): Net unrealized (gains) losses on financial instruments at fair value(128,895)181,197 (104,012)(11,231)(76,765)Net realized (gains) losses on sales of investments— 1,468 — — 3,750 (Gains) losses on extinguishment of debt(2,122)— — — — Increase (decrease) in provision for credit losses3,387 4,448 358 3,684 1,347 Net unrealized (gains) losses on derivatives