Company: NLY-PF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036724
Chunk: 159

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 159
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, provides investors with additional detail on the earnings available for distribution generated by our invested equity capital. 

The following table presents a reconciliation of GAAP financial results to non-GAAP earnings available for distribution for the periods presented:

 For the Three Months Ended June 30,For the Six Months Ended June 30, 2025202420252024 (dollars in thousands, except per share data)GAAP net income (loss)$60,371 $(8,833)$190,676 $456,341 Adjustments to exclude reported realized and unrealized (gains) lossesNet (gains) losses on investments and other (1)(82,854)568,874 (893,824)1,562,994 Net (gains) losses on derivatives (2)574,435 (132,115)1,743,847 (1,179,110)Other adjustmentsAmortization of intangibles672 673 1,345 1,346 Non-EAD (income) loss allocated to equity method investments (3)(403)(523)(256)(307)Transaction expenses and non-recurring items (4)5,706 5,329 12,488 9,066 Income tax effect of non-EAD income (loss) items1,003 10,016 8,358 7,098 TBA dollar roll income (5)7,252 486 18,527 1,861 MSR amortization (6)(68,804)(56,100)(131,237)(106,721)EAD attributable to noncontrolling interests(3,610)(3,362)(6,595)(7,148)Premium amortization adjustment cost (benefit)(3,862)(7,306)8,434 (10,319)Earnings available for distribution *489,906 377,139 951,763 735,101 Dividends on preferred stock37,260 37,158 74,417 74,219 Earnings available for distribution attributable to common stockholders *$452,646 $339,981 $877,346 $660,882 GAAP net income (loss) per average common share$0.03 $(0.09)$0.18 $0.76 Earnings available for distribution per average common share *$0.73 $0.68 $1.45 $1