Company: ARI
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0000950170-25-017122
Chunk: 155

Company: Apollo Commercial Real Estate Finance, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 8
Chunk 155
---
ging instruments

        1,943

        9,684

        5,671

        Total

        $
        570

        $
        (414
        )
         
        $
        13,363

        The following table summarizes the gross asset and liability amounts related to our derivatives at December 31, 2024 and December 31, 2023 ($ in thousands): 

96

        December 31, 2024

        December 31, 2023

        GrossAmount ofRecognizedAssets

        GrossAmountsOffset in ourConsolidatedBalance Sheet

        Net Amountsof Assets Presented in ourConsolidatedBalance Sheet

        GrossAmount ofRecognizedAssets

        GrossAmountsOffset in our  ConsolidatedBalance Sheet

        Net Amountsof AssetsPresented in ourConsolidatedBalance Sheet

        Forward currency contracts
         
        $
        59,261

        $
        (1,508
        )
         
        $
        57,753

        $
        55,102

        $
        (27,037
        )
         
        $
        28,065

        Interest rate caps

        416

        —

        416

        1,360

        —

        1,360

        Total derivative assets
         
        $
        59,677

        $
        (1,508
        )
         
        $
        58,169

        $
        56,462

        $
        (27,037
        )
         
        $
        29,425

Note 12 – Participations Sold

Participations sold represented the subordinate interests in loans we originated and subsequently partially sold. We account for participations sold as secured borrowings on our consolidated balance sheet with both assets and non-recourse liabilities because the participations do not qualify as a sale under ASC 860. The income earned on the participations sold is recorded as interest income and an identical amount is recorded as interest expense in our consolidated statements of operations.In December 2020, we sold a £6.7 million ($8.9 million assuming conversion into USD at time of transfer) interest, at par, in a first mortgage loan collateralized by an office building located in London, United Kingdom that was originated by us in December 2017. In connection with this sale, we transferred our remaining unfunded commitment of £19.1 million ($25.3