Company: PGYWW
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001883085-25-000050
Chunk: 52

Company: Pagaya Technologies Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 16
Chunk 52
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 certificates103 103 715,543623,970715,646624,073Other loans and receivables— — 4,5742,2954,5742,295Total (1)$2,508 $2,490 $809,366 $714,303 $811,874 $716,793 (1) Based on contractual maturities of corresponding repurchase agreements. See Note 6 for additional information. The following table sets forth gross proceeds and related investment gains (losses), as well as losses on write-downs and the allowance for credit losses of securities, for the periods indicated (in thousands):Year Ended December 31,20242023Investments in loans and securities, available for sale:Proceeds from sales/maturities/prepayments$227,771 $172,061 Gross investment gains from sales(7,922)— Write-offs charged against the allowance7,455 33,552 Additions to allowance for credit losses(416,791)(134,510)The following tables set forth the activity in the allowance for credit losses for investments in loans and securities, as of the dates indicated (in thousands):Year Ended December 31, 2024Securitization notesSecuritization certificatesOther loans and receivablesTotalBalance, beginning of period$— $(98,679)$(2,279)$(100,958)Additions to allowance for credit losses not previously recorded— (347,189)— (347,189)Additions to allowance for credit losses arising from purchases— — (3,246)(3,246)Additions (reductions) on securities with previous allowance— (62,873)(3,483)(66,356)Write-offs charged against the allowance— — 7,455 7,455 Balance, end of period$— $(508,741)$(1,553)$(510,294)Refer to Note 14 for additional information regarding the allowance for credit losses for investments.  

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Table of Contents

Year Ended December 31, 2023Securitization notesSecuritization certificatesOther loans and receivablesTotalBalance, beginning of period$— $— $— $— Additions to allowance for credit losses not previously recorded— (131,110)(3,400)(134,510)Write-offs charged against the allowance— 32,