Company: NLY-PF
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001628280-25-005451
Chunk: 43

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 43
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 net fair value of $14.0 million.

 Within OneYearOne to ThreeYearsThree to FiveYearsMore thanFive YearsTotal (dollars in thousands)Repurchase agreements$65,356,883 $332,040 $— $— $65,688,923 Interest expense on repurchase agreements (1)284,793 5,555 — — 290,348 Other secured financing600,000 150,000 — — 750,000 Interest expense on other secured financing (1)37,851 7,971 — — 45,822 Debt issued by securitization vehicles (principal)— — — 20,468,421 20,468,421 Interest expense on debt issued by securitization vehicles1,092,527 2,185,054 2,185,054 33,873,297 39,335,932 Participations issued (principal)— — — 1,134,995 1,134,995 Interest expense on participations issued77,571 155,141 155,141 1,926,225 2,314,078 Long-term operating lease obligations3,149 2,764 7,685 52,041 65,639 Total$67,452,774 $2,838,525 $2,347,880 $57,454,979 $130,094,158 (1) Interest expense on repurchase agreements and other secured financing calculated based on rates at December 31, 2024.

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 year ended December 31, 2024, we received $6.8 billion from principal repayments and $21.1 billion in cash from disposal of Securities. During the year ended December 31, 2023, we received $6.2 billion from principal repayments and $31.3 billion in cash from disposal of Securities.

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ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 7. Management’s Discussion and Analysis

Commitments and Contractual Obligations with Un