Investor Presentaiton
Non-GAAP Reconciliations (cont'd)
Unaudited (dollars in thousands)
6/30/2022
3/31/2022
For the quarters ended
12/31/2021
9/30/2021
6/30/2021
Economic leverage ratio reconciliation
Repurchase agreements
Other secured financing
Debt issued by securitization vehicles
Participations issued
Debt included in liabilities of disposal group held for sale
Total GAAP debt
Less non-recourse debt:
Credit facilities (1)
$51,364,097
$52,626,503
7,502,483
696,944
914,255
6,711,953
$54,769,643
903,255
$55,475,420
$60,221,067
729,555
5,155,633
3,935,410
775,432
1,049,066
641,006
909,655
3,315,087
315,810
112,144
113,362
$59,563,524
$61,028,143
$61,989,741
$60,894,753
2,306,633
$67,068,252
$
($914,255)
($903,255)
($729,555)
($909,655)
Debt issued by securitization vehicles
(7,502,483)
(6,711,953)
(5,155,633)
(3,935,410)
(3,315,087)
Participations issued
(696,944)
(775,432)
(1,049,066)
(641,006)
(315,810)
Non-recourse debt included in liabilities of disposal group held for sale
(112,144)
(113,362)
(2,035,982)
Total recourse debt
$51,364,097
$52,626,503
$54,769,643
$55,475,420
$60,491,718
Plus/ (Less):
Cost basis of TBA and CMBX derivatives
Payable for unsettled trades
Receivable for unsettled trades
Economic debt*
Total equity
Economic leverage ratio*
$19,723,326
1,995,960
(434,227)
$19,006,949
$20,690,768
$24,202,686
$18,107,549
$72,649,156
1,992,568
(407,225)
$73,218,795
$11,089,900
$11,478,770
147,908
(2,656)
$75,605,663
$13,195,325
571,540
(42,482)
$80,207,164
$13,717,867
154,405
(14,336)
$78,739,336
$13,639,176
6.6x
6.4x
5.7x
5.8x
5.8x
* Represents a non-GAAP financial measure.
Detailed endnotes and a glossary of defined terms are included at the end of this presentation.
ANNALY
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