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

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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%)0.55%(0.38%)Weighted average experienced CPR for the period8.7%7.4%7.9%6.7%Weighted average projected long-term CPR at period-end9.1%8.5%9.1%8.5%Common stock book value per share$18.45 $19.25 $18.45 $19.25 Non-GAAP metrics *Interest income (excluding PAA)$1,415,031 $1,170,019 $2,744,435 $2,261,494 Economic interest expense (6)$947,828 $806,470 $1,840,576 $1,577,260 Economic net interest income (excluding PAA)$467,203 $363,549 $903,859 $684,234 Premium amortization adjustment cost (benefit)$(3,862)$(7,306)$8,434 $(10,319)Earnings available for distribution (7)$489,906 $377,139 $951,763 $735,101 Earnings available for distribution per average common share$0.73 $0.68 $1.45 $1.32 Annualized EAD return on average equity (excluding PAA)14.86%13.36%14.65%13.03%Economic leverage at period-end (1)5.8:15.8:15.8:15.8:1Economic capital ratio at period-end (2)14.3%14.4%14.3%14.4%Net interest margin (excluding PAA) (4)1.71%1.58%1.70%1.51%Average yield on interest earning assets (excluding PAA) (5)5.41%5.14%5.32%5.00%Average economic cost of interest bearing liabilities (6)3.94%3.90%3.91%3.84%Net interest spread (excluding PAA)1.47%1.24%1.41%1.16%

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ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 2. Management’s Discussion and Analysis 

*   Represents a non-GAAP financial measure. Refer to the “Non-GAAP Financial Measures” section for additional information.(1) GAAP leverage is computed