Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 257

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 257
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 of $3.4 million, which consisted of a current tax provision of $5.0 million and a deferred tax benefit of $1.6 million. In the three months ended June 30, 2024, we recorded a tax provision of $3.9 million, which consisted of a current tax provision of $6.8 million and a deferred tax benefit of $2.9 million. 

Net Income Attributable to Noncontrolling Interest

The noncontrolling interest relates to the outstanding OP Units (see Note 16). There were 16,173,761 and 16,293,589 OP Units outstanding at June 30, 2025 and 2024, respectively, which represented 7.8% and 8.0% of our outstanding stock at June 30, 2025 and 2024, respectively.

61

Comparison of Results of Operations for the Six Months Ended June 30, 2025 and 2024

The following table provides our consolidated operating results ($ in thousands):

Six Months Ended June 30, Increase / (Decrease) 2025 2024Amount Percent Interest income$480,997 $618,480 $(137,483)(22)%Interest expense336,829 426,903 (90,074)(21)%Net interest income144,168 191,577 (47,409)(25)%Other revenue:   Gain on sales, including fee-based services, net26,439 34,114 (7,675)(22)%Mortgage servicing rights19,061 24,733 (5,672)(23)%Servicing revenue, net53,040 61,436 (8,396)(14)%Property operating income9,839 3,014 6,825 nm%Gain (loss) on derivative instruments, net3,619 (5,533)9,152 nm%Other income, net8,407 4,414 3,993 90%Total other revenue120,405 122,178 (1,773)(1)%Other expenses:   Employee compensation and benefits87,217 90,529 (3,312)(4)%Selling and administrative31,171 26,756 4,415 17%Property operating expenses10,276 3,262 7,014 nm%Depreciation and amortization9,592 4,994 4,598