Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 194

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 194
---
-FamilyMulti-FamilyCorporate/OtherTotalSingle-FamilyMulti-FamilyCorporate/OtherTotalGAAP interest income$122,932 $2,605 $4,197 $129,734 $81,227 $2,665 $— $83,892 GAAP interest expense(85,560)— (11,076)(96,636)(61,740)— (4,289)(66,029)GAAP total net interest income (loss)$37,372 $2,605 $(6,879)$33,098 $19,487 $2,665 $(4,289)$17,863 GAAP interest income$122,932 $2,605 $4,197 $129,734 $81,227 $2,665 $— $83,892 Adjusted for:Consolidated SLST CDO interest expense(6,964)— — (6,964)(5,801)— — (5,801)Adjusted interest income$115,968 $2,605 $4,197 $122,770 $75,426 $2,665 $— $78,091 GAAP interest expense$(85,560)$— $(11,076)$(96,636)$(61,740)$— $(4,289)$(66,029)Adjusted for:Consolidated SLST CDO interest expense6,964 — — 6,964 5,801 — — 5,801 Net interest benefit of interest rate swaps2,180 — 932 3,112 7,177 — 1,155 8,332 Adjusted interest expense$(76,416)$— $(10,144)$(86,560)$(48,762)$— $(3,134)$(51,896)Adjusted net interest income (loss) (1)$39,552 $2,605 $(5,947)$36,210 $26,664 $2,665 $(3,134)$26,195 

(1)Adjusted net interest income (loss) is calculated by subtracting adjusted interest expense from adjusted interest income.

100

Earnings Available for Distribution

Previously, we presented undepreciated earnings (loss) as a supplemental non-GAAP financial measure comparable to GAAP net income (loss)