v3.26.1
SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
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, 2026 and 2025:
Three Months Ended June 30, 2026
 AgencyResidential CreditMSRCorporate & OtherConsolidated
(dollars in thousands)
Interest income$1,102,237 $709,961 $— $— $1,812,198 
Interest expense755,259 568,746 — — 1,324,005 
Net interest income346,978 141,215 — — 488,193 
Servicing and related income— — 175,059 — 175,059 
Servicing and related expense— — 17,835 — 17,835 
Net servicing income— — 157,224 — 157,224 
Other income (loss)238,951 34,412 (25,231)(688)247,444 
Less: Total general and administrative expenses18,968 19,600 11,018 8,603 58,189 
Income (loss) before income taxes566,961 156,027 120,975 (9,291)834,672 
Income taxes581 1,772 4,546 — 6,899 
Net income (loss)566,380 154,255 116,429 (9,291)827,773 
Less: Net income (loss) attributable to noncontrolling interest— 5,100 — — 5,100 
Net income (loss) attributable to Annaly566,380 149,155 116,429 (9,291)822,673 
Dividends on preferred stock— — — 41,036 41,036 
Net income (loss) available (related) to common stockholders566,380 149,155 116,429 (50,327)781,637 
Unrealized gains (losses) on available-for-sale securities(23,400)— — — (23,400)
Reclassification adjustment for net (gains) losses included in net income (loss)— — — — — 
Other comprehensive income (loss)(23,400)— — — (23,400)
Comprehensive income (loss)542,980 154,255 116,429 (9,291)804,373 
Comprehensive income (loss) attributable to noncontrolling interests— 5,100 — — 5,100 
Comprehensive income (loss) attributable to Annaly$542,980 $149,155 $116,429 $(9,291)$799,273 
Noncash investing and financing activities:
Receivable for unsettled trades92,317 — 12,405 — 104,722 
Payable for unsettled trades262,764 14,443 54,379 — 331,586 
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment(23,400)— — — (23,400)
Dividends declared, not yet paid— — — 562,931 562,931 
Total assets
Total assets$90,585,914 $48,138,201 $4,985,815 $31,246 $143,741,176 
Three Months Ended June 30, 2025
 AgencyResidential CreditMSRCorporate & OtherConsolidated
(dollars in thousands)
Interest income$913,267 $505,463 $— $163 $1,418,893 
Interest expense731,316 414,222 — 155 1,145,693 
Net interest income181,951 91,241 — 8 273,200 
Servicing and related income— — 141,670 — 141,670 
Servicing and related expense— — 14,571 — 14,571 
Net servicing income— — 127,099 — 127,099 
Other income (loss)(252,852)(193)(39,372)2,947 (289,470)
Less: Total general and administrative expenses16,551 15,917 9,243 8,307 50,018 
Income (loss) before income taxes(87,452)75,131 78,484 (5,352)60,811 
Income taxes(130)(8,217)8,833 (46)440 
Net income (loss)(87,322)83,348 69,651 (5,306)60,371 
Less: Net income (loss) attributable to noncontrolling interest— 3,272 — — 3,272 
Net income (loss) attributable to Annaly(87,322)80,076 69,651 (5,306)57,099 
Dividends on preferred stock— — — 37,260 37,260 
Net income (loss) available (related) to common stockholders(87,322)80,076 69,651 (42,566)19,839 
Unrealized gains (losses) on available-for-sale securities33,559 — — — 33,559 
Reclassification adjustment for net (gains) losses included in net income (loss)13,797 — — — 13,797 
Other comprehensive income (loss)47,356 — — — 47,356 
Comprehensive income (loss)(39,966)83,348 69,651 (5,306)107,727 
Comprehensive income (loss) attributable to noncontrolling interests— 3,272 — — 3,272 
Comprehensive income (loss) attributable to Annaly$(39,966)$80,076 $69,651 $(5,306)$104,455 
Noncash investing and financing activities:
Receivable for unsettled trades1,104,920 — 29,976 — 1,134,896 
Payable for unsettled trades1,479,249 — 59,277 — 1,538,526 
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment47,356 — — — 47,356 
Dividends declared, not yet paid— — — 449,453 449,453 
Total assets
Total assets$75,289,321 $32,919,304 $3,835,511 $97,756 $112,141,892 
Six Months Ended June 30, 2026
 AgencyResidential CreditMSRCorporate & OtherConsolidated
(dollars in thousands)
Interest income$2,196,530 $1,340,598 $— $— $3,537,128 
Interest expense1,520,703 1,075,541 — — 2,596,244 
Net interest income675,827 265,057 — — 940,884 
Servicing and related income— — 334,192 — 334,192 
Servicing and related expense— — 34,415 — 34,415 
Net servicing income— — 299,777 — 299,777 
Other income (loss)(95,592)178,776 (88,029)(1,395)(6,240)
Less: Total general and administrative expenses37,090 37,514 21,105 15,044 110,753 
Income (loss) before income taxes543,145 406,319 190,643 (16,439)1,123,668 
Income taxes1,663 (3,681)7,400 (2)5,380 
Net income (loss)541,482 410,000 183,243 (16,437)1,118,288 
Less: Net income (loss) attributable to noncontrolling interest— 12,963 — — 12,963 
Net income (loss) attributable to Annaly541,482 397,037 183,243 (16,437)1,105,325 
Dividends on preferred stock— — — 81,688 81,688 
Net income (loss) available (related) to common stockholders541,482 397,037 183,243 (98,125)1,023,637 
Unrealized gains (losses) on available-for-sale securities(68,448)— — — (68,448)
Reclassification adjustment for net (gains) losses included in net income (loss)— — — — — 
Other comprehensive income (loss)(68,448)— — — (68,448)
Comprehensive income (loss)473,034 410,000 183,243 (16,437)1,049,840 
Comprehensive income (loss) attributable to noncontrolling interests— 12,963 — — 12,963 
Comprehensive income (loss) attributable to Annaly$473,034 $397,037 $183,243 $(16,437)$1,036,877 
Noncash investing and financing activities:
Receivable for unsettled trades92,317 — 12,405 — 104,722 
Payable for unsettled trades262,764 14,443 54,379 — 331,586 
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment(68,448)— — — (68,448)
Dividends declared, not yet paid— — — 562,931 562,931 
Total assets
Total assets$90,585,914 $48,138,201 $4,985,815 $31,246 $143,741,176 
Six Months Ended June 30, 2025
 AgencyResidential CreditMSRCorporate & OtherConsolidated
(dollars in thousands)
Interest income$1,762,467 $972,316 $— $1,218 $2,736,001 
Interest expense1,449,569 792,396 — 865 2,242,830 
Net interest income312,898 179,920 — 353 493,171 
Servicing and related income— — 282,105 — 282,105 
Servicing and related expense— — 28,684 — 28,684 
Net servicing income— — 253,421 — 253,421 
Other income (loss)(419,777)11,897 (42,333)1,086 (449,127)
Less: Total general and administrative expenses33,867 31,423 18,636 14,156 98,082 
Income (loss) before income taxes(140,746)160,394 192,452 (12,717)199,383 
Income taxes160 (8,741)17,343 (55)8,707 
Net income (loss)(140,906)169,135 175,109 (12,662)190,676 
Less: Net income (loss) attributable to noncontrolling interest— 9,353 — — 9,353 
Net income (loss) attributable to Annaly(140,906)159,782 175,109 (12,662)181,323 
Dividends on preferred stock— — — 74,417 74,417 
Net income (loss) available (related) to common stockholders(140,906)159,782 175,109 (87,079)106,906 
Unrealized gains (losses) on available-for-sale securities198,436 — — — 198,436 
Reclassification adjustment for net (gains) losses included in net income (loss)79,200 — — — 79,200 
Other comprehensive income (loss)277,636 — — — 277,636 
Comprehensive income (loss)136,730 169,135 175,109 (12,662)468,312 
Comprehensive income (loss) attributable to noncontrolling interests— 9,353 — — 9,353 
Comprehensive income (loss) attributable to Annaly$136,730 $159,782 $175,109 $(12,662)$458,959 
Noncash investing and financing activities:
Receivable for unsettled trades1,104,920 — 29,976 — 1,134,896 
Payable for unsettled trades1,479,249 — 59,277 — 1,538,526 
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment277,636 — — — 277,636 
Dividends declared, not yet paid— — — 449,453 449,453 
Total assets
Total assets$75,289,321 $32,919,304 $3,835,511 $97,756 $112,141,892