Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 155

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 155
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21,630 $37,204 $8,072 $(9,762)$57,144 GAAP interest income$211,385 $205,276 $6,931 $7,675 $431,267 $111,652 $162,252 $8,072 $1,051 $283,027 Adjusted for:Consolidated SLST CDO interest expense— (26,592)— — (26,592)— (19,928)— — (19,928)TBA dollar roll income73 — — — 73 — — — — — Adjusted interest income$211,458 $178,684 $6,931 $7,675 $404,748 $111,652 $142,324 $8,072 $1,051 $263,099 GAAP interest expense$(147,403)$(150,025)$— $(27,709)$(325,137)$(90,022)$(125,048)$— $(10,813)$(225,883)Adjusted for:Consolidated SLST CDO interest expense— 26,592 — — 26,592 — 19,928 — — 19,928 Net interest benefit of interest rate swaps10,532 946 — 1,388 12,866 22,350 508 — 2,217 25,075 Adjusted interest expense$(136,871)$(122,487)$— $(26,321)$(285,679)$(67,672)$(104,612)$— $(8,596)$(180,880)Adjusted net interest income (loss) (1)$74,587 $56,197 $6,931 $(18,646)$119,069 $43,980 $37,712 $8,072 $(7,545)$82,219 

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

Earnings Available for Distribution

Previously, we presented undepreciated earnings (loss) as a supplemental non-GAAP financial measure comparable to GAAP net income (loss) attributable to Company's common stockholders. Commencing with the quarter ended March 31, 2025, we have discontinued disclosure