Company: NLY-PF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036724
Chunk: 12

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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, and net interest on initial margin related to interest rate swaps, which is reported in Other, net in the Company’s Consolidated Statements of Comprehensive Income (Loss). Net interest on variation margin related to interest rate swaps is included in the Net interest component of interest rate swaps in the Company’s Consolidated Statements of Comprehensive Income (Loss).(7) Excludes dividends on preferred stock.

GAAP

Net income (loss) was $60.4 million, which includes $3.3 million attributable to noncontrolling interests, or $0.03 per average basic common share, for the three months ended June 30, 2025, compared to ($8.8) million, which includes $0.7 million attributable to noncontrolling interests, or ($0.09) per average basic common share, for the same period in 2024. We attribute the majority of the change in net income (loss) to favorable changes in net gains (losses) on investments and other, net interest income, and net servicing income, partially offset by an unfavorable change in net gains (losses) on derivatives. Net gains (losses) on investments and other was $83.5 million for the three months ended June 30, 2025, compared to ($568.7) million for the same period in 2024. Net interest income for the three months ended June 30, 2025 was $273.2 million, compared to $53.6 million for the same period in 2024. Net servicing income for the three months ended June 30, 2025 was $127.1 million, compared to $107.9 million for the same period in 2024. Net gains (losses) on derivatives was ($388.8) million for the three months ended June 30, 2025 compared to $430.5 million for the same period in 2024.

Net income (loss) was $190.7 million, which includes $9.4 million attributable to noncontrolling interests, or $0.18 per average basic common share, for the six months ended June 30, 2025, compared to $456.3 million, which includes $2.9 million attributable to noncontrolling interests, or $0.76 per average basic common share, for the same period in 2024. We attribute the majority of the change in net income (loss) to favorable changes in net gains (losses) on investments and other, net