SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Segment Reporting Information, by Segment

The following tables present the reportable operating segments related to the Company’s results of operations for the three and six months ended June 30, 2024 and 2023:


Three Months Ended June 30, 2024
	Agency		Resi-credit		MSR		Corporate & Other		Consolidated
	(dollars in thousands)
Interest income	$	821,339	$	353,545	$	—	$	2,441	$	1,177,325
Interest expense	830,324		291,816		—		1,627		1,123,767
Net interest income	(8,985)		61,729		—		814		53,558
Servicing and related income	—		—		120,515		—		120,515
Servicing and related expense	—		—		12,617		—		12,617
Net servicing income	—		—		107,898		—		107,898
Other income (loss)	(184,910)		48,457		22,324		662		(113,467)
Less: Total general and administrative expenses	15,862		13,148		8,507		7,374		44,891
Income (loss) before income taxes	(209,757)		97,038		121,715		(5,898)		3,098
Income taxes	118		(24)		11,920		(83)		11,931
Net income (loss)	(209,875)		97,062		109,795		(5,815)		(8,833)
Less: Net income (loss) attributable to noncontrolling interest	—		650		—		—		650
Net income (loss) attributable to Annaly	(209,875)		96,412		109,795		(5,815)		(9,483)
Dividends on preferred stock	—		—		—		37,158		37,158
Net income (loss) available (related) to common stockholders	(209,875)		96,412		109,795		(42,973)		(46,641)
Unrealized gains (losses) on available-for-sale securities	(54,243)		—		—		—		(54,243)
Reclassification adjustment for net (gains) losses included in net income (loss)	179,234		—		—		—		179,234
Other comprehensive income (loss)	124,991		—		—		—		124,991
Comprehensive income (loss)	(84,884)		97,062		109,795		(5,815)		116,158
Comprehensive income (loss) attributable to noncontrolling interests	—		650		—		—		650
Comprehensive income (loss) attributable to Annaly	$	(84,884)	$	96,412	$	109,795	$	(5,815)	$	115,508
Noncash investing and financing activities:
Receivable for unsettled trades	311,349		—		9,310		—		320,659
Payable for unsettled trades	1,041,278		—		54,993		—		1,096,271
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment	124,991		—		—		—		124,991
Dividends declared, not yet paid	—		—		—		325,662		325,662
Total assets
Total assets	$	66,660,065	$	23,462,284	$	3,326,780	$	219,448	$	93,668,577


Three Months Ended June 30, 2023
	Agency		Resi-credit		MSR		Corporate & Other		Consolidated
	(dollars in thousands)
Interest income	$	694,505	$	218,679	$	—	$	8,310	$	921,494
Interest expense	778,480		169,239		—		5,738		953,457
Net interest income	(83,975)		49,440		—		2,572		(31,963)
Servicing and related income	—		—		83,790		—		83,790
Servicing and related expense	—		—		8,930		—		8,930
Net servicing income	—		—		74,860		—		74,860
Other income (loss)	58,225		66,637		54,950		(4,330)		175,482
Less: Total general and administrative expenses	15,685		11,884		7,183		8,163		42,915
Income (loss) before income taxes	(41,435)		104,193		122,627		(9,921)		175,464
Income taxes	705		673		13,089		(190)		14,277
Net income (loss)	(42,140)		103,520		109,538		(9,731)		161,187
Less: Net income (loss) attributable to noncontrolling interest	—		(5,846)		—		—		(5,846)
Net income (loss) attributable to Annaly	(42,140)		109,366		109,538		(9,731)		167,033
Dividends on preferred stock	—		—		—		35,766		35,766
Net income (loss) available (related) to common stockholders	(42,140)		109,366		109,538		(45,497)		131,267
Unrealized gains (losses) on available-for-sale securities	(294,045)		—		—		—		(294,045)
Reclassification adjustment for net (gains) losses included in net income (loss)	462,128		—		—		—		462,128
Other comprehensive income (loss)	168,083		—		—		—		168,083
Comprehensive income (loss)	125,943		103,520		109,538		(9,731)		329,270
Comprehensive income (loss) attributable to noncontrolling interests	—		(5,846)		—		—		(5,846)
Comprehensive income (loss) attributable to Annaly	$	125,943	$	109,366	$	109,538	$	(9,731)	$	335,116
Noncash investing and financing activities:
Receivable for unsettled trades	780,458		4,857		1,994		133		787,442
Payable for unsettled trades	4,295,056		10		36,249		—		4,331,315
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment	168,083		—		—		—		168,083
Dividends declared, not yet paid	—		—		—		321,031		321,031
Total assets
Total assets	$	70,775,689	$	15,822,726	$	2,252,578	$	479,484	$	89,330,477