Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 258

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 258
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,484)$128,969 GAAP interest income$383,972 $10,755 $6,553 $401,280 $244,891 $13,707 $62 $258,660 $238,915 $13,499 $5,974 $258,388 Adjusted for:Consolidated SLST CDO interest expense(26,491)— — (26,491)(24,506)— — (24,506)(25,145)— — (25,145)Adjusted interest income$357,481 $10,755 $6,553 $374,789 $220,385 $13,707 $62 $234,154 $213,770 $13,499 $5,974 $233,243 GAAP interest expense$(290,483)$— $(26,942)$(317,425)$(176,890)$— $(15,244)$(192,134)$(119,809)$(152)$(9,458)$(129,419)Adjusted for:Consolidated SLST CDO interest expense26,491 — — 26,491 24,506 — — 24,506 25,145 — — 25,145 Net interest benefit of interest rate swaps26,593 — 4,322 30,915 9,642 — 2,445 12,087 — — — — Adjusted interest expense$(237,399)$— $(22,620)$(260,019)$(142,742)$— $(12,799)$(155,541)$(94,664)$(152)$(9,458)$(104,274)Adjusted net interest income (loss) (1)$120,082 $10,755 $(16,067)$114,770 $77,643 $13,707 $(12,737)$78,613 $119,106 $13,347 $(3,484)$128,969 

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

Undepreciated Loss

Undepreciated loss is a supplemental non-GAAP financial measure defined as GAAP net loss attributable to Company's common stockholders excluding the Company's share in depreciation expense and