ARMOUR Residential REIT, Inc(NYSE:ARR) 
ARMOUR Residential REIT, Inc. invests in residential mortgage backed securities (MBS) in the United States. The company's securities portfolio primarily consists of the United States Government-sponsored entity's (GSE) and the Government National Mortgage Administration's issued or guaranteed securi...
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-03-31 | 2009-12-31 |
|---|---|---|---|---|---|---|---|---|
interest income: | ||||||||
interest income, net of amortization of premium | 35,344,824 | 39,665,171 | 29,461,571 | 13,734,829 | 5,761,122 | 3,891,240 | 1,108,138 | |
interest expense: | ||||||||
repurchase agreements | -4,698,151 | -3,450,885 | -2,351,430 | -1,355,481 | ||||
total interest expense | -1,789,449 | -3,450,885 | -8,458,820 | -3,376,740 | ||||
net interest income | 30,646,673 | 36,214,286 | 21,002,751 | 10,358,089 | 5,122,119 | 3,504,638 | 987,492 | |
other income: | ||||||||
realized gain on sale of agency securities | 10,186,860 | 6,443,902 | ||||||
subtotal | 10,186,860 | 6,443,902 | ||||||
realized loss on derivatives | -8,581,045 | -8,420,990 | ||||||
unrealized loss on derivatives | -22,972,735 | -65,808,206 | ||||||
total other loss | -25,467,997 | -67,785,294 | ||||||
expenses: | ||||||||
professional fees | 503,634 | 270,392 | 241,654 | 371,014 | 108,210 | 84,497 | 146,030 | |
insurance | 49,360 | 60,488 | 51,725 | 51,156 | 35,005 | 37,241 | 51,912 | |
management fee | 2,417,053 | 2,190,502 | 1,494,979 | 755,820 | 302,973 | 225,000 | 57,598 | |
other | 342,784 | 377,480 | 340,145 | 192,644 | 28,339 | |||
total expenses | 3,312,831 | 2,898,862 | 2,128,503 | 1,370,634 | 522,896 | 383,279 | 283,879 | |
income before income taxes | -8,283,599.5 | -34,469,870 | -7,269,243 | |||||
income tax expense | -3,565.75 | -2,050 | -3,213 | -9,000 | ||||
net income | 23,706,607 | -34,471,920 | -7,272,456 | 8,596,073 | 7,390,004 | -458,094 | 305,833 | |
yoy | 220.79% | 7425.08% | -2477.92% | |||||
qoq | -168.77% | 374.01% | -184.60% | 16.32% | -1713.21% | -249.79% | ||
weighted-average shares outstanding: | ||||||||
basic and diluted | 61,421,177 | 78,360,049 | 53,258,925 | 26,398,637 | 5,854,568 | 7,414,054 | 2,304,054 | |
net income per share | ||||||||
basic and diluted | 0.48 | -0.44 | -0.14 | 0.33 | 0.13 | |||
dividends per share | 0.265 | 0.36 | 0.36 | 0.29 | 0.36 | |||
interest rate swap contracts | -6,107,390 | -2,021,259 | ||||||
change in fair value of interest rate contracts | -25,816,511 | -266,223 | 2,864,030 | -3,391,588 | -603,579 | |||
realized gain on interest rate contracts | -326,980 | |||||||
total net revenues | -5,140,740 | 9,975,707 | 592,112 | |||||
total interest income | 13,734,829 | |||||||
net interest income after change in fair value of interest rate contracts | 10,091,866 | 7,986,149 | 113,050 | |||||
realized loss on interest rate contracts | -116,159 | -227,098 | -187,783 | |||||
net income before taxes | 8,605,073 | 308,233 | ||||||
weighted-average shares outstanding : | ||||||||
basic and diluted | 61,421,177 | 78,360,049 | 53,258,925 | 26,398,637 | 5,854,568 | 7,414,054 | 2,304,054 | |
revenues: | ||||||||
interest expense | -639,003 | -386,602 | -120,646 | |||||
total net (losses) revenues | 77,475.5 | -74,733 | ||||||
formation, operating and other costs | 85,200.25 | 36,541 | ||||||
net loss before taxes | -212,666.25 | -458,012 | ||||||
income tax benefit | 153,849 | -82 | -2,400 | |||||
less: interest attributable to common stock subject to possible conversion | ||||||||
net loss attributable to common stock not subject to possible conversion | -213,286.75 | -458,094 | ||||||
maximum number of shares subject to possible conversion: | ||||||||
weighted-average shares outstanding subject to possible conversion | ||||||||
income per share amount | ||||||||
weighted-average shares outstanding not subject to conversion: | ||||||||
basic and diluted | 61,421,177 | 78,360,049 | 53,258,925 | 26,398,637 | 5,854,568 | 7,414,054 | 2,304,054 | |
pro forma diluted | -4,306,873.88 | 7,414,054 | 2,304,054 | |||||
net loss per common share | ||||||||
basic and diluted | -0.05 | -0.06 | ||||||
net interest income after change in fair value adjustments | 383,913 | |||||||
gain on sale of agency securities | 208,199 | |||||||
formation and operating costs | ||||||||
net income attributable to common stock not subject to possible conversion | 305,833 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-12-31 |
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assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 66,471,000 | 63,270,000 | 44,238,000 | 141,166,000 | 49,115,000 | 67,970,000 | 63,855,000 | 126,562,000 | 221,297,000 | 221,888,000 | 496,478,000 | 496,480,000 | 802,852,000 | 836,501,000 | 771,282,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash collateral posted to counterparties | 147,707,000 | 226,701,000 | 264,282,000 | 281,386,000 | 214,374,000 | 78,213,000 | 134,246,000 | 62,343,000 | 38,220,000 | 36,970,000 | 13,635,000 | 52,477,000 | 123,882,000 | 30,806,000 | 16,979,000 | 24,598,000 | 9,297,000 | 18,552,000 | 30,098,000 | 29,983,000 | 52,796,000 | 3,997,000 | 16,686,000 | 27,460,000 | 350,348,000 | 91,771,000 | 126,391,000 | 137,166,000 | 58,996,000 | 10,531,000 | 15,089,000 | 9,653,000 | 13,150,000 | 17,162,000 | 54,957,000 | 57,622,000 | 24,701,000 | 79,471,000 | 281,397,000 | 317,425,000 | 306,104,000 | 263,799,000 | 422,736,000 | 137,657,000 | 312,447,000 | 129,004,000 | 32,896,000 | |||||||||||||||||||
investments in securities, at fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
agency securities | 19,497,548,000 | 17,805,194,000 | 14,515,845,000 | 14,442,377,000 | 12,422,762,000 | 8,857,881,000 | 10,905,877,000 | 12,384,137,000 | 11,176,635,000 | 12,084,711,000 | 8,014,139,000 | 6,697,367,000 | 6,399,346,000 | 4,406,521,000 | 4,259,294,000 | 4,351,478,000 | 4,318,397,000 | 5,178,322,000 | 5,545,765,000 | 5,186,224,000 | 2,786,962,000 | 11,941,766,000 | 12,007,021,000 | 13,623,509,000 | 12,707,442,000 | 7,051,954,000 | 6,961,377,000 | 6,253,312,000 | 6,245,432,000 | |||||||||||||||||||||||||||||||||||||
u.s. treasury securities | 989,541,000 | 598,109,000 | 251,641,000 | 602,250,000 | 274,172,000 | 596,521,000 | 1,258,020,000 | 198,833,000 | 194,906,000 | 98,646,000 | 98,028,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
derivatives, at fair value | 661,015,000 | 611,544,000 | 613,021,000 | 629,180,000 | 724,827,000 | 908,063,000 | 731,774,000 | 965,208,000 | 959,727,000 | 877,412,000 | 1,231,057,000 | 1,001,049,000 | 848,572,000 | 984,456,000 | 1,087,490,000 | 772,451,000 | 543,229,000 | 199,073,000 | 178,602,000 | 138,897,000 | 216,297,000 | 54,686,000 | 10,557,000 | 10,620,000 | 24,099,000 | 24,751,000 | 7,794,000 | 12,736,000 | 58,677,000 | 111,913,000 | 240,813,000 | 173,863,000 | 135,703,000 | 37,211,000 | 7,770,000 | 5,399,000 | 19,722,000 | 9,837,000 | 10,194,000 | 29,524,000 | 1,665,000 | 999,000 | 18,464,000 | 32,609,000 | 451,000 | 60,518,000 | 223,479,000 | 169,877,000 | 310,370,000 | 508,988,000 | 390,685,000 | 343,340,000 | 38,923,000 | 5,367,000 | 8,069,000 | 9,600,000 | 9,475,000 | 121,726,843 | 94,421,587 | |||||||
accrued interest receivable | 88,607,000 | 86,153,000 | 79,672,000 | 64,117,000 | 62,215,000 | 52,874,000 | 49,000,000 | 37,018,000 | 46,209,000 | 47,111,000 | 54,434,000 | 45,760,000 | 49,730,000 | 28,809,000 | 31,697,000 | 21,588,000 | 17,412,000 | 10,570,000 | 10,220,000 | 10,026,000 | 11,094,000 | 12,833,000 | 13,215,000 | 13,007,000 | 9,545,000 | 35,085,000 | 36,437,000 | 42,241,000 | 39,609,000 | 22,505,000 | 22,398,000 | 19,329,000 | 20,492,000 | 22,165,000 | 20,607,000 | 18,640,000 | 19,028,000 | 18,452,000 | 19,271,000 | 21,458,000 | 28,883,000 | 34,500,000 | 36,967,000 | 39,935,000 | 41,075,000 | 41,915,000 | 44,436,000 | 44,901,000 | 45,492,000 | 42,034,000 | 45,985,000 | 63,512,000 | 71,664,000 | 55,430,000 | 60,548,000 | 38,544,000 | 36,028,000 | 18,637,166 | 18,905,442 | 15,956,541 | 7,705,149 | 3,892,834 | 2,176,568 | 1,548,678 | 962,168 | 412,114 |
prepaid and other | 3,715,000 | 1,742,000 | 2,675,000 | 6,772,000 | 3,986,000 | 1,419,000 | 2,848,000 | 3,372,000 | 1,020,000 | 1,260,000 | 983,000 | 4,628,000 | 6,990,000 | 2,101,000 | 3,093,000 | 3,106,000 | 57,733,000 | 1,094,000 | 1,574,000 | 1,694,000 | 9,692,000 | 1,977,000 | 2,336,000 | 2,448,000 | 1,605,000 | 9,051,000 | 2,719,000 | 2,796,000 | 1,396,000 | 1,855,000 | 1,524,000 | 2,814,000 | 1,608,000 | 1,600,000 | 2,458,000 | 1,804,000 | 2,038,000 | 1,667,000 | 3,850,000 | 6,052,000 | 4,382,000 | |||||||||||||||||||||||||
total assets | 21,454,604,000 | 21,005,159,000 | 19,357,246,000 | 16,240,716,000 | 15,496,894,000 | 13,547,953,000 | 13,404,485,000 | 10,052,384,000 | 12,208,298,000 | 12,344,395,000 | 13,914,195,000 | 12,539,120,000 | 13,249,330,000 | 9,437,047,000 | 10,915,258,000 | 8,856,969,000 | 8,706,889,000 | 5,277,307,000 | 4,987,888,000 | 5,137,399,000 | 5,349,500,000 | 5,524,486,000 | 5,944,501,000 | 5,563,987,000 | 5,065,179,000 | 13,272,420,000 | 13,223,333,000 | 14,923,675,000 | 13,972,819,000 | 8,464,610,000 | 8,680,866,000 | 8,096,978,000 | 8,471,257,000 | 8,928,917,000 | 8,578,199,000 | 8,453,722,000 | 8,142,399,000 | 7,978,161,000 | 8,855,002,000 | 9,538,425,000 | 11,344,034,000 | 13,055,277,000 | 14,396,404,000 | 15,123,693,000 | 15,879,802,000 | 16,285,798,000 | 17,517,812,000 | 17,624,750,000 | 17,745,508,000 | 15,732,517,000 | 17,630,469,000 | 24,172,580,000 | 27,752,816,000 | 20,878,878,000 | 23,517,346,000 | 13,906,493,000 | 12,812,634,000 | 6,207,746,751 | 6,384,111,010 | 5,530,026,383 | 2,345,673,563 | 1,209,223,950 | 564,384,713 | 507,162,530 | 191,640,680 | 126,693,608 |
liabilities and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repurchase agreements | 18,463,834,000 | 17,941,796,000 | 16,557,426,000 | 12,810,087,000 | 12,490,792,000 | 10,713,830,000 | 10,186,415,000 | 7,071,767,000 | 8,654,063,000 | 9,647,982,000 | 11,504,192,000 | 9,121,329,000 | 10,554,538,000 | 6,463,058,000 | 8,250,066,000 | 6,692,547,000 | 6,440,004,000 | 3,948,037,000 | 3,450,439,000 | 3,661,367,000 | 3,810,790,000 | 4,536,065,000 | 4,510,795,000 | 4,237,603,000 | 3,465,472,000 | 11,354,547,000 | 11,679,094,000 | 13,296,846,000 | 12,143,274,000 | 7,037,651,000 | 7,218,734,000 | 6,254,189,000 | 6,853,715,000 | 7,555,917,000 | 7,225,714,000 | 6,295,802,000 | 6,514,394,000 | 6,818,453,000 | 7,360,670,000 | 7,971,642,000 | 9,923,859,000 | 11,570,481,000 | 12,595,573,000 | 13,422,795,000 | 13,904,770,000 | 13,881,921,000 | 15,455,085,000 | 14,393,580,000 | 15,163,375,000 | 13,151,504,000 | 14,917,525,000 | 19,763,622,000 | 24,828,614,000 | 18,366,095,000 | 19,826,988,000 | 12,112,586,000 | 11,097,863,000 | 5,335,962,345 | 5,221,525,340 | 4,655,226,247 | 2,099,366,245 | 490,727,022 | 334,703,323 | 168,525,093 | 46,388,602 | |
cash collateral posted by counterparties | 401,189,000 | 419,427,000 | 453,620,000 | 470,502,000 | 655,457,000 | 833,857,000 | 692,778,000 | 920,195,000 | 927,360,000 | 860,130,000 | 1,133,327,000 | 963,656,000 | 853,502,000 | 963,591,000 | 1,000,407,000 | 818,846,000 | 549,658,000 | 171,060,000 | 154,713,000 | 106,898,000 | 165,130,000 | 44,704,000 | 4,100,000 | 8,189,000 | 130,297,000 | 14,958,000 | 25,310,000 | 18,701,000 | 49,826,000 | 97,213,000 | 232,041,000 | 161,934,000 | 127,721,000 | 29,593,000 | 741,000 | 2,349,000 | 10,560,000 | 3,774,000 | 15,496,000 | 24,010,000 | 8,869,000 | 162,000 | 38,340,000 | 48,240,000 | 137,321,000 | |||||||||||||||||||||
payable for unsettled purchases | 148,241,000 | 302,094,000 | 72,933,000 | 634,088,000 | 103,509,000 | 587,263,000 | 341,315,000 | 199,683,000 | 171,513,000 | 616,435,000 | 353,436,000 | 682,605,000 | 358,753,000 | 687,250,000 | 210,646,000 | 206,126,000 | 295,991,000 | 518,552,000 | 443,523,000 | 470,441,000 | 358,712,000 | 198,172,000 | 166,052,000 | 462,325,000 | 227,409,000 | 828,642,000 | 467,562,000 | 100,913,000 | 14,955,000 | 445,292,000 | 38,816,000 | 382,833,000 | 159,159,000 | 143,894,000 | ||||||||||||||||||||||||||||||||
accrued interest payable- repurchase agreements | 83,434,000 | 63,988,000 | 39,673,000 | 54,665,000 | 24,858,000 | 32,703,000 | 49,884,000 | 26,509,000 | 30,764,000 | 33,994,000 | 38,831,000 | 19,096,000 | 20,210,000 | 5,382,000 | 964,000 | 944,000 | 534,000 | 548,000 | 1,015,000 | 1,625,000 | 1,289,000 | 676,000 | 3,490,000 | 31,932,000 | 14,004,000 | 43,349,000 | 21,790,000 | 10,268,000 | 9,694,000 | 6,037,000 | 5,274,000 | 6,452,000 | 5,823,000 | 3,676,000 | 4,066,000 | 6,934,000 | 6,025,000 | 5,164,000 | 6,255,000 | 7,724,000 | 7,012,000 | 9,564,000 | 7,888,000 | |||||||||||||||||||||||
accounts payable and other accrued expenses | 6,437,000 | 2,219,000 | 6,824,000 | 6,311,000 | 7,203,000 | 4,733,000 | 8,470,000 | 10,833,000 | 13,373,000 | 6,719,000 | 9,863,000 | 8,446,000 | 8,294,000 | 6,404,000 | 10,718,000 | 5,011,000 | 6,547,000 | 2,727,000 | 4,882,000 | 4,645,000 | 4,373,000 | 2,571,000 | 4,108,000 | 4,567,000 | 8,954,000 | 3,590,000 | 6,178,000 | 6,060,000 | 6,039,000 | 3,608,000 | 6,284,000 | 5,808,000 | 5,290,000 | 2,956,000 | 5,654,000 | 6,502,000 | 6,041,000 | 7,280,000 | 9,271,000 | 8,630,000 | 4,645,000 | 18,605,000 | 12,901,000 | 938,000 | 800,000 | 16,649,000 | 3,413,000 | 3,203,000 | 3,663,000 | 23,357,000 | 3,697,000 | 3,237,000 | ||||||||||||||
total liabilities | 19,117,580,000 | 18,744,106,000 | 17,228,450,000 | 14,580,765,000 | 13,793,048,000 | 12,186,538,000 | 12,087,628,000 | 8,891,092,000 | 10,961,185,000 | 11,073,211,000 | 12,678,146,000 | 11,256,131,000 | 12,034,197,000 | 8,324,675,000 | 9,971,111,000 | 7,884,311,000 | 7,684,954,000 | 4,133,668,000 | 3,844,196,000 | 4,028,857,000 | 4,322,314,000 | 4,586,182,000 | 5,052,232,000 | 4,712,756,000 | 4,278,929,000 | 11,835,713,000 | 11,840,393,000 | 13,547,627,000 | 12,486,166,000 | 7,339,297,000 | 7,472,593,000 | 6,890,470,000 | 7,226,291,000 | 7,602,866,000 | 7,265,537,000 | 7,168,605,000 | 7,005,004,000 | 6,886,096,000 | 7,634,685,000 | 8,398,911,000 | 10,248,399,000 | 11,830,111,000 | 12,976,952,000 | 13,536,899,000 | 14,221,690,000 | 14,536,507,000 | 15,681,812,000 | 15,673,867,000 | 15,877,734,000 | 13,831,289,000 | 15,477,020,000 | 21,956,979,000 | 25,044,018,000 | 18,571,103,000 | 21,074,398,000 | 12,548,403,000 | 11,605,727,000 | 5,581,141,124 | 5,809,443,125 | 4,995,996,126 | 2,125,061,188 | 1,100,515,373 | 510,349,163 | 452,843,166 | 170,222,995 | 105,202,512 |
commitments and contingencies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.001 par value... | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 2,000 | 2,000 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.001 par value... | 124,000 | 112,000 | 112,000 | 88,000 | 82,000 | 62,000 | 55,000 | 49,000 | 49,000 | 49,000 | 49,000 | 207,000 | 192,000 | 163,000 | 132,000 | 111,000 | 100,000 | 83,000 | 69,000 | 65,000 | 65,000 | 65,000 | 59,000 | 59,000 | 59,000 | 59,000 | 60,000 | 44,000 | 42,000 | 42,000 | 42,000 | 42,000 | 42,000 | 41,000 | 37,000 | 37,000 | 37,000 | 37,000 | 37,000 | 37,000 | 42,000 | 350,000 | 352,000 | 353,000 | 357,000 | 357,000 | 357,000 | 358,000 | 371,000 | 371,000 | 374,000 | 309,000 | 309,000 | 188,000 | 178,000 | 95,437 | 84,758 | 74,781 | 32,254 | 16,442 | 7,414 | 7,414 | ||||
additional paid-in capital | 5,666,414,000 | 5,446,152,000 | 5,441,809,000 | 5,053,048,000 | 4,957,900,000 | 4,585,739,000 | 4,448,815,000 | 4,318,666,000 | 4,317,875,000 | 4,318,155,000 | 4,320,621,000 | 4,128,402,000 | 4,052,190,000 | 3,874,627,000 | 3,701,921,000 | 3,537,598,000 | 3,458,492,000 | 3,403,127,000 | 3,334,523,000 | 3,284,218,000 | 3,115,352,000 | 3,033,025,000 | 3,025,274,000 | 3,024,246,000 | 2,974,469,000 | 3,054,604,000 | 3,025,436,000 | 3,013,233,000 | 3,075,172,000 | 2,752,376,000 | 2,722,919,000 | 2,713,258,000 | 2,712,611,000 | 2,709,335,000 | 2,693,579,000 | 2,677,338,000 | 2,560,442,000 | 2,560,242,000 | 2,560,021,000 | 2,559,793,000 | 2,559,582,000 | 2,559,361,000 | 2,672,726,000 | 2,708,630,000 | 2,715,040,000 | 2,717,545,000 | 2,732,989,000 | 2,732,647,000 | 2,732,269,000 | 2,734,480,000 | 2,786,559,000 | 2,785,818,000 | 2,805,755,000 | 2,226,198,000 | 2,220,417,000 | 1,340,403,000 | 1,234,532,000 | 678,640,666 | 606,186,743 | 533,807,928 | 229,733,052 | 116,748,175 | 54,702,873 | 54,765,390 | 22,647,201 | 22,647,201 |
cumulative distributions to stockholders | -2,756,503,000 | -2,667,051,000 | -2,583,261,000 | -2,504,062,000 | -2,440,621,000 | -2,383,539,000 | -2,337,606,000 | -2,297,136,000 | -2,258,874,000 | -2,220,567,000 | -2,158,526,000 | -2,098,693,000 | -2,047,360,000 | -1,992,361,000 | -1,945,351,000 | -1,905,211,000 | -1,870,058,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
accumulated net loss | -573,018,000 | -518,167,000 | -729,871,000 | -889,130,000 | -813,522,000 | -840,854,000 | -794,414,000 | -860,294,000 | -811,944,000 | -826,460,000 | -926,102,000 | -746,934,000 | -789,896,000 | -758,537,000 | -797,947,000 | -653,632,000 | -595,041,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
total stockholders’ equity | 2,337,024,000 | 2,261,053,000 | 2,128,796,000 | 1,659,951,000 | 1,703,846,000 | 1,361,415,000 | 1,316,857,000 | 1,161,292,000 | 1,247,113,000 | 1,271,184,000 | 1,236,049,000 | 1,282,989,000 | 1,215,133,000 | 1,112,372,000 | 944,147,000 | 972,658,000 | 1,021,935,000 | 1,143,639,000 | 1,143,692,000 | 1,108,542,000 | 1,027,186,000 | 938,304,000 | 892,269,000 | 851,231,000 | 786,250,000 | 1,436,707,000 | 1,382,940,000 | 1,376,048,000 | 1,486,653,000 | 1,125,313,000 | 1,208,273,000 | 1,206,508,000 | 1,244,966,000 | 1,326,051,000 | 1,312,662,000 | 1,285,117,000 | 1,137,395,000 | 1,092,065,000 | 1,220,317,000 | 1,139,514,000 | 1,095,635,000 | 1,225,166,000 | 1,419,452,000 | 1,586,794,000 | 1,658,112,000 | 1,749,291,000 | 1,836,000,000 | 1,950,883,000 | 1,867,774,000 | 1,901,228,000 | 2,153,449,000 | 2,215,601,000 | 2,708,798,000 | 2,307,775,000 | 1,358,090,000 | 1,206,907,000 | 626,605,627 | 574,667,885 | 534,030,257 | 220,612,375 | 108,708,577 | 54,035,550 | 54,319,364 | 21,417,725 | 21,491,096 | |
total liabilities and stockholders’ equity | 21,454,604,000 | 21,005,159,000 | 19,357,246,000 | 16,240,716,000 | 15,496,894,000 | 13,547,953,000 | 13,404,485,000 | 10,052,384,000 | 12,208,298,000 | 12,344,395,000 | 13,914,195,000 | 12,539,120,000 | 13,249,330,000 | 9,437,047,000 | 10,915,258,000 | 8,856,969,000 | 8,706,889,000 | 5,277,307,000 | 4,987,888,000 | 5,137,399,000 | 5,349,500,000 | 5,524,486,000 | 5,944,501,000 | 5,563,987,000 | 5,065,179,000 | 13,272,420,000 | 13,223,333,000 | 14,923,675,000 | 13,972,819,000 | 8,464,610,000 | 8,680,866,000 | 8,096,978,000 | 8,471,257,000 | 8,928,917,000 | 8,578,199,000 | 8,453,722,000 | 8,142,399,000 | 7,978,161,000 | 8,855,002,000 | 9,538,425,000 | 11,344,034,000 | 13,055,277,000 | 14,396,404,000 | 15,123,693,000 | 15,879,802,000 | 16,285,798,000 | 17,517,812,000 | 17,624,750,000 | 17,745,508,000 | 15,732,517,000 | 17,630,469,000 | 24,172,580,000 | 27,752,816,000 | 20,878,878,000 | 13,906,493,000 | 12,812,634,000 | 6,207,746,751 | 6,384,111,010 | 5,530,026,383 | 2,345,673,563 | 1,209,223,950 | 564,384,713 | 507,162,530 | 191,640,680 | 126,693,608 | |
investments in securities, at fair value: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
agency securities (including pledged securities of 18,071,863 (8,324,007 with buckler) and 11,796,858 (5,733,374 with buckler)), respectively | 19,417,640,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
obligations to return securities received as collateral, at fair value | 509,410,000 | 506,340,000 | 493,433,000 | 522,660,000 | 500,965,000 | 1,101,625,000 | 497,188,000 | 509,121,000 | 502,656,000 | 1,021,484,000 | 1,875,938,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable - repurchase agreements | 59,267,000 | 32,090,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable - u.s. treasury securities sold short | 3,801,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivable for unsettled sales | 296,523,000 | 35,948,000 | 96,490,000 | 94,825,000 | 1,091,891,000 | 427,203,000 | 82,100,000 | 358,670,000 | 688,183,000 | 216,292,000 | 68,796,000 | 649,323,000 | 83,311,000 | 752,773,000 | 260,598,000 | 3,002,570,000 | 296,378,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
accrued interest payable- u.s. treasury securities sold short | 3,755,000 | 7,294,000 | 7,294,000 | 3,638,000 | 11,869,000 | 5,049,000 | 3,475,000 | 8,660,000 | 3,418,000 | 10,256,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
agency securities (including pledged securities of 11,796,858 (5,733,374 with buckler) and 10,599,340 (5,400,138 with buckler), respectively | 12,439,414,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
agency securities (including pledged securities of 10,599,340 (5,400,138 with buckler) and 7,249,039 (3,920,706 with buckler), respectively | 11,159,754,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loan to buckler | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
obligations to return securities received as collateral, at fair value (including 0 and 100,531 with buckler respectively | 350,273,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -43,870,000 | -172,233,000 | -145,099,000 | -120,828,000 | -20,111,000 | -11,866,000 | -29,134,000 | -45,228,000 | -144,184,000 | -4,474,967 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash | 133,459,000 | 163,746,000 | 135,445,000 | 87,284,000 | 290,797,000 | 209,135,000 | 316,852,000 | 337,664,000 | 126,094,000 | 500,321,000 | 277,554,000 | 167,671,000 | 250,942,000 | 153,258,000 | 333,884,000 | 181,395,000 | 160,484,000 | 211,656,000 | 167,372,000 | 221,668,000 | 266,692,000 | 335,548,000 | 216,497,000 | 265,232,000 | 299,940,000 | 412,133,000 | 194,459,000 | 271,773,000 | 401,825,000 | 389,358,000 | 243,294,000 | 289,925,000 | 276,489,000 | 363,212,000 | 473,826,000 | 494,561,000 | 542,789,000 | 433,149,000 | 588,832,000 | 727,306,000 | 326,736,000 | 264,750,000 | 252,372,445 | 250,485,889 | 188,233,866 | 47,174,161 | 35,343,907 | 11,964,520 | 21,887,268 | 2,781,756 | 6,653,331 | |||||||||||||||
agency securities (including pledged securities of 7,249,039 (3,920,706 with buckler) and 3,995,804 (2,036,385 with buckler), respectively | 8,198,591,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income | -11,527,000 | -14,615,000 | -6,215,000 | 28,435,000 | 106,973,000 | 123,954,000 | 144,639,000 | 136,797,000 | 179,031,000 | 200,197,000 | 196,663,000 | 225,017,000 | 355,473,000 | 405,688,000 | 316,347,000 | 143,288,000 | 25,181,000 | 14,114,000 | 165,271,000 | 175,217,000 | 122,719,000 | -67,302,000 | 88,033,000 | -49,210,000 | 167,541,000 | 84,354,000 | 66,415,000 | -190,480,000 | -590,854,000 | -840,036,000 | 31,995,000 | 230,564,000 | 402,650,000 | 167,650,000 | 54,054,000 | 48,747,904 | 63,306,645 | 32,312,299 | -4,229,530 | 5,887,887 | 2,981,910 | 583,257 | 40,839 | |||||||||||||||||||||||
7.00% series c cumulative preferred stock; 6,847 and 5,347 shares issued and outstanding (171,175 and 133,675 aggregate liquidation preference) at december 31, 2021 and december 31, 2020, respectively. | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock | 94,000 | 87,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated deficit | -2,366,562,000 | -2,314,879,000 | -2,320,405,000 | -2,225,038,000 | -2,273,822,000 | -2,333,272,000 | -2,369,748,000 | -2,413,300,000 | -1,973,437,000 | -2,048,250,000 | -1,953,597,000 | -1,731,875,000 | -1,583,245,000 | -1,342,463,000 | -1,361,701,000 | -1,346,867,000 | -1,363,223,000 | -1,406,148,000 | -1,406,384,000 | -1,411,226,000 | -1,439,088,000 | -1,505,020,000 | -1,595,541,000 | -1,586,711,000 | -1,266,938,000 | -1,341,357,000 | -1,072,984,000 | -1,224,829,000 | -1,052,969,000 | -852,126,000 | -848,544,000 | -720,676,000 | -643,138,000 | -42,635,000 | -129,334,000 | -149,298,000 | -180,430,000 | -150,152,000 | -81,857,000 | -100,878,380 | -94,910,261 | -32,164,751 | -4,677,964 | -3,826,510 | -6,562,624 | -3,435,350 | -1,812,963 | |||||||||||||||||||
7.00% series c cumulative preferred stock; 6,847 and 5,347 shares issued and outstanding (171,175 and 133,675 aggregate liquidation preference) at september 30, 2021 and december 31, 2020, respectively | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.00% series c cumulative preferred stock; 6,847 and 5,347 shares issued and outstanding (171,175 and 133,675 aggregate liquidation preference) at june 30, 2021 and december 31. 2020, respectively | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.00% series c cumulative preferred stock; 6,501 and 5,347 shares issued and outstanding (162,525 and 133,675 aggregate liquidation preference) at march 31, 2021 and december 31. 2020, respectively | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit risk and non-agency securities | 65,970,000 | 765,553,000 | 883,601,000 | 777,487,000 | 788,571,000 | 815,008,000 | 819,915,000 | 947,314,000 | 957,752,000 | 968,950,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 8,383 shares issued and outstanding (209,583 aggregate liquidation preference) at december 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.00% series c cumulative preferred stock; 5,347 issued and outstanding (133,675 aggregate liquidation preference) at december 31, 2020 | 5,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.00% series c cumulative preferred stock; 5,303 shares issued and outstanding (132,588 aggregate liquidation preference) at september 30, 2020 | 5,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.00% series c cumulative preferred stock; 5,303 shares issued and outstanding (132,588 aggregate liquidation preference) at june 30, 2020 | 5,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.00% series c cumulative preferred stock; 5,303 shares issued and outstanding (132,588 aggregate liquidation preference) at march 31, 2020 | 5,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest-only securities | 19,319,000 | 20,623,000 | 22,631,000 | 23,415,000 | 24,933,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 0, and 2,181 issued and outstanding at december 31, 2019 and december 31, 2018, respectively | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 8,383 and 6,369 issued and outstanding at december 31, 2019 and december 31, 2018 | 8,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 shares issued and outstanding (54,514 aggregate liquidation preference) at december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 7,202 and 6,369 shares issued and outstanding (180,049 and 159,232 aggregate liquidation preference) at september 30, 2019 and december 31, 2018 | 7,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock - called for redemption | 54,514,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 6,505 and 6,369 shares issued and outstanding (162,637 and 159,232 aggregate liquidation preference) at june 30, 2019 and december 31, 2018 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 shares issued and outstanding | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 6,369 shares issued and outstanding | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loans to buckler | 105,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 issued and outstanding | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 6,369 and 6,262 issued and outstanding at december 31, 2018 and december 31, 2017 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loans due from buckler securities llc | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 6,369 and 6,262 shares issued and outstanding at september 30, 2018 and december 31, 2017 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 6,369 and 6,262 shares issued and outstanding at june 30, 2018 and december 31, 2017 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
u.s. treasury securities - pledged securities | 670,696,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 6,369 and 6,262 shares issued and outstanding at march 31, 2018 and december 31, 2017 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
agency securities, available for sale, at fair value | 7,478,966,000 | 7,093,705,000 | 6,906,293,000 | 6,135,117,000 | 6,511,164,000 | 7,041,228,000 | 7,742,276,000 | 10,474,010,000 | 12,461,556,000 | 13,636,947,000 | 13,795,986,000 | 15,050,439,000 | 15,297,529,000 | 13,669,810,000 | 16,962,134,000 | 16,479,734,000 | 14,648,178,000 | 16,664,917,000 | 22,605,502,000 | 24,339,169,000 | 19,096,562,000 | 22,114,875,000 | 13,328,514,000 | 12,137,554,000 | 5,393,674,681 | 5,975,823,418 | 5,258,400,274 | 2,273,914,732 | 1,161,850,680 | 540,070,197 | ||||||||||||||||||||||||||||||||||||
credit risk and non-agency securities, trading, at fair value | 975,829,000 | 966,516,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest-only securities, trading, at fair value | 25,752,000 | 27,246,000 | 28,627,000 | 28,573,000 | 33,627,000 | 95,918,000 | 32,450,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 6,262 and 5,650 issued and outstanding at december 31, 2017 and december 31, 2016 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,960 and 5,650 shares issued and outstanding at september 30, 2017 and december 31, 2016 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-agency securities, trading, at fair value | 998,204,000 | 1,069,438,000 | 1,052,170,000 | 1,001,319,000 | 916,571,000 | 285,696,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loan due from buckler securities llc | 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 issued and outstanding | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
principal payments receivable | 37,000 | 26,000 | 398,000 | 24,000 | 93,000 | 487,000 | 108,000 | 39,000 | 70,000 | 256,000 | 8,914,000 | 9,381,000 | 16,037,000 | 10,799,000 | 9,190,000 | 6,948,000 | 12,492,637 | 8,541,768 | 3,516,060 | 2,878,391 | 2,642,149 | 2,739,224 | 1,778,381 | 5,588,925 | 73,705 | |||||||||||||||||||||||||||||||||||||||||
prepaid and other assets | 4,461,000 | 4,775,000 | 1,123,000 | 1,540,000 | 1,580,000 | 1,345,000 | 447,000 | 790,000 | 852,000 | 1,184,000 | 1,153,000 | 559,000 | 404,000 | 742,000 | 823,000 | 357,000 | 439,729 | 430,100 | 383,636 | 287,908 | 266,203 | 178,391 | 114,802 | 186,662 | 162,366 | |||||||||||||||||||||||||||||||||||||||||
accrued interest payable | 3,930,000 | 5,050,000 | 5,498,000 | 6,041,000 | 6,629,000 | 7,816,000 | 10,085,000 | 10,302,000 | 10,064,000 | 9,302,000 | 3,373,000 | 2,113,000 | 2,154,215 | 17,051,708 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at september 30, 2015 and december 31, 2014 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at september 30, 2015 and december 31, 2014 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at june 30, 2015 and december 31, 2014 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at june 30, 2015 and december 31, 2014 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at march 31, 2015 and december 31, 2014 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at march 31, 2015 and december 31, 2014 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at december 31, 2014 and december 31, 2013 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at december 31, 2014 and december 31, 2013 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at september 30, 2014 and december 31, 2013 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at september 30, 2014 and december 31, 2013 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash collateral posted | 14,134,000 | 23,873,000 | 35,917,000 | 30,962,000 | 280,315,000 | 230,451,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash collateral held | 128,168,000 | 238,852,000 | 387,845,000 | 294,071,000 | 203,573,000 | 10,155,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 issued and outstanding (54,514 aggregate liquidation preference) at june 30, 2014 and december 31, 2013 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 issued and outstanding (141,250 aggregate liquidation preference) at june 30, 2014 and december 31, 2013 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends payable | 2,000 | 8,000 | 9,000 | 103,000 | 276,000 | 198,000 | 750,533 | 115,993 | 116,467 | 115,891 | 436,322 | 2,776,550 | 1,029,113 | 1,029,113 | 177,938 | |||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 and 2,181 issued and outstanding at march 31, 2014 and december 31, 2013 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 and 5,650 issued and outstanding at march 31, 2014 and december 31, 2013 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 shares and 2,006 shares issued and outstanding at december 31, 2013 and december 31, 2012 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 shares and none issued and outstanding at december 31, 2013 and december 31, 2012 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 and 2,006 issued and outstanding at september 30, 2013 and december 31, 2012 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 and none issued and outstanding at september 30, 2013 and december 31, 2012 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivable for unsettled securities | 66,992,000 | 2,226,168,000 | 668,244,000 | 357,218,000 | 218,873,000 | 382,931,459 | 15,927,169 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 and 2,006 issued and outstanding at june 30, 2013 and december 31, 2012 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 and none issued and outstanding at june 30, 2013 and december 31, 2012 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
retained earnings | 269,440,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable and accrued expenses | 3,425,000 | 4,395,000 | 3,157,000 | 2,790,000 | 3,611,000 | 2,662,555 | 1,219,235 | 1,964,352 | 971,324 | 454,379 | 320,398 | 237,107 | 122,187 | 76,493 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
8.250% series a cumulative preferred stock; 2,181 and 2,006 issued and outstanding at march 31, 2013 and december 31, 2012 | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7.875% series b cumulative preferred stock; 5,650 and none issued and outstanding at march 31, 2013 and december 31, 2012 | 6,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | 265,552,000 | 237,789,000 | 193,086,000 | 138,649,000 | 147,198,634 | 129,924,393 | 55,311,283 | 13,713,222 | 4,680,603 | 6,862,088 | 3,860,176 | 299,280 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
payable for unsettled securities | 1,036,450,000 | 272,863,000 | 391,678,000 | 117,884,633 | 475,109,262 | 302,680,242 | 19,941,430 | 125,418,369 | 11,130,519 | 114,870,537 | 58,559,479 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and stockholders' equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders' equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total stockholders' equity | 2,442,948,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders' equity | 23,517,346,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
refundable income taxes | 547,574 | 393,725 | 393,725 | 393,725 | 393,725 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivable from transfer agent | 8,224,723 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest rate contracts, at fair value | 36,008,818 | 4,666,298 | 2,530,645 | 5,394,674 | 2,003,086 | 546,562 | 50,363 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repurchase arrangements | 971,675,658 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
agency securities available for sale, at fair value | 477,579,500 | 164,583,811 | 118,648,724 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
due from broker | 1,216,464 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.0001 par value... | 230 | 230 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash held in trust available for operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred underwriters fee | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
commitments and contingencies: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock subject to possible redemption | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest income attributable to common stock subject to possible conversion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(accumulated deficit) retained earnings | -1,197,174 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-12-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | -54,851,000 | 211,704,000 | 27,332,000 | 65,880,000 | -48,350,000 | 14,516,000 | 39,410,000 | -144,315,000 | -58,591,000 | -66,434,000 | -20,772,000 | 33,982,000 | -69,174,000 | 71,327,000 | 108,681,000 | -60,955,000 | -183,250,000 | -114,381,000 | -211,979,000 | 47,704,000 | 13,562,000 | 44,747,000 | 71,013,000 | 27,724,000 | 29,699,000 | 52,718,000 | -143,173,000 | 54,093,000 | -70,190,000 | -19,778,000 | -540,776,000 | -229,943,000 | 481,385,000 | 102,290,000 | -13,608,000 | 65,224,000 | -7,272,455 | 8,596,073 | 7,390,004 | -458,214 | -700,766 | 305,833 | |||||||||||||||||||||
adjustments to reconcile net income to net cash and cash equivalents and cash collateral posted to counterparties provided by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net amortization of premium on agency securities | 3,338,000 | -259,000 | -296,000 | -621,000 | -533,000 | -1,321,000 | 1,073,000 | 436,000 | 199,000 | -263,000 | 2,330,000 | 1,122,000 | 1,576,000 | 3,350,000 | 5,978,000 | 7,486,000 | 9,693,000 | 10,259,000 | 12,380,000 | 15,795,000 | 16,400,000 | 13,558,000 | 9,234,000 | 14,130,000 | 18,649,000 | 17,790,000 | 11,123,000 | 6,347,000 | 6,358,000 | 8,080,000 | 8,757,000 | 9,794,000 | 11,273,000 | 10,238,000 | 10,694,000 | 12,633,000 | 17,700,000 | 17,351,000 | 21,381,000 | 21,395,000 | 24,386,000 | 28,456,000 | 29,764,000 | 26,983,000 | 26,070,000 | 26,227,000 | 20,050,000 | 10,618,000 | 17,554,000 | 32,442,000 | 46,951,000 | 60,698,000 | 19,794,000 | 13,943,000 | 17,170,157 | 9,704,157 | 4,657,670 | 3,274,606 | 1,188,848 | 1,050,354 | 765,539 | 610,659 | |
net accretion of u.s. treasury securities | -39,000 | 0 | 132,000 | -224,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on agency securities, trading | 182,595,000 | -16,545,000 | -208,257,000 | 404,168,000 | -306,141,000 | 112,870,000 | 137,749,000 | -452,908,000 | 468,280,000 | -71,228,000 | 514,483,000 | 249,022,000 | 254,389,000 | 31,355,000 | 2,387,000 | -19,183,000 | 62,586,000 | ||||||||||||||||||||||||||||||||||||||||||||||
loss on u.s. treasury securities | 10,648,000 | 394,000 | -6,197,000 | 2,887,000 | 12,906,000 | -10,922,000 | 48,610,000 | 11,854,000 | 23,947,000 | 15,951,000 | 33,983,000 | 78,387,000 | 193,000 | -21,771,000 | 0 | 736,000 | -3,453,000 | 693,000 | -26,000 | 83,000 | |||||||||||||||||||||||||||||||||||||||||||
stock based compensation | 559,000 | 569,000 | 570,000 | 521,000 | 465,000 | 661,000 | 761,000 | 766,000 | 1,053,000 | 860,000 | 828,000 | 821,000 | 692,000 | 838,000 | 964,000 | 959,000 | 935,000 | 1,127,000 | 1,237,000 | 1,205,000 | 1,199,000 | 1,020,000 | 1,028,000 | 1,022,000 | 1,001,000 | 655,000 | 737,000 | 658,000 | 644,000 | 444,000 | 662,000 | 647,000 | 644,000 | 299,000 | 231,000 | 207,000 | 200,000 | 221,000 | 228,000 | 211,000 | 221,000 | 236,000 | 223,000 | 239,000 | 255,000 | 274,000 | 282,000 | 305,000 | 292,000 | 295,000 | 617,000 | 414,000 | 190,000 | 200,000 | 61,000 | 42,944 | -42,994 | 134,916 | 10,364 | ||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accrued interest receivable | -2,777,000 | -6,018,000 | -4,838,000 | -9,907,000 | 5,202,000 | -21,424,000 | 1,033,000 | 1,952,000 | -8,000 | -194,000 | -3,698,000 | 25,728,000 | 1,777,000 | 283,000 | -3,150,000 | 8,152,000 | -16,234,000 | -2,553,000 | -17,366,000 | 268,276 | -2,948,901 | -8,251,392 | -3,812,315 | -1,716,266 | -627,890 | -586,510 | -550,054 | ||||||||||||||||||||||||||||||||||||
increase in prepaid and other assets | -1,973,000 | 6,028,000 | -4,889,000 | -917,000 | 7,998,000 | -7,715,000 | 359,000 | 112,000 | -843,000 | 7,446,000 | 79,000 | 314,000 | -242,000 | -29,000 | -594,000 | -150,000 | |||||||||||||||||||||||||||||||||||||||||||||||
change in derivatives, at fair value | -54,329,000 | -52,879,000 | -17,121,000 | 131,289,000 | 253,248,000 | -232,894,000 | 281,648,000 | 867,000 | -84,023,000 | 358,681,000 | -241,616,000 | -202,120,000 | 184,119,000 | 108,945,000 | -311,706,000 | -225,981,000 | -354,525,000 | -32,553,000 | -65,996,000 | 81,658,000 | -117,813,000 | -56,300,000 | -4,747,000 | -168,598,000 | 128,953,000 | -60,790,000 | -7,408,000 | 107,033,000 | 95,796,000 | 147,565,000 | -61,287,000 | -44,865,000 | -99,558,000 | ||||||||||||||||||||||||||||||
increase in accrued interest payable- repurchase agreements | 24,167,000 | -4,721,000 | 24,315,000 | -14,992,000 | 22,575,000 | 7,232,000 | -7,845,000 | -17,181,000 | 23,375,000 | -4,255,000 | -3,230,000 | -4,837,000 | 19,735,000 | -1,114,000 | 14,828,000 | 4,418,000 | 20,000 | 336,000 | 613,000 | -2,814,000 | -28,442,000 | 17,928,000 | -29,345,000 | 21,559,000 | 11,522,000 | 574,000 | -2,552,000 | 1,676,000 | |||||||||||||||||||||||||||||||||||
increase in accrued interest payable- u.s. treasury securities sold short | 0 | 3,493,000 | -3,493,000 | 3,656,000 | -8,231,000 | 6,820,000 | -5,185,000 | 5,242,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accounts payable and other accrued expenses | 4,218,000 | -4,605,000 | 513,000 | -892,000 | 2,470,000 | -3,737,000 | -2,363,000 | -2,540,000 | 6,654,000 | -2,911,000 | 1,184,000 | 152,000 | 1,890,000 | -448,000 | 1,841,000 | -1,536,000 | 3,820,000 | -2,155,000 | 237,000 | 272,000 | 1,802,000 | -1,537,000 | -459,000 | -4,387,000 | 5,364,000 | -3,391,000 | 118,000 | 21,000 | 2,431,000 | -2,676,000 | 476,000 | 582,000 | 2,270,000 | -6,000 | 460,000 | ||||||||||||||||||||||||||||
net cash and cash equivalents and cash collateral posted to counterparties provided by operating activities | 111,556,000 | 35,561,000 | -37,805,000 | 24,964,000 | 101,482,000 | 90,442,000 | 47,123,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of agency securities | -2,022,637,000 | -1,928,416,000 | -4,488,332,000 | -775,944,000 | -2,405,583,000 | -1,836,521,000 | -3,738,653,000 | -1,341,279,000 | -422,542,000 | -275,534,000 | -2,753,363,000 | -1,942,610,000 | -5,317,154,000 | -2,152,413,000 | -3,822,245,000 | -3,704,214,000 | -1,778,122,000 | -593,126,000 | -203,301,000 | -521,105,000 | -590,670,000 | -3,070,014,000 | -1,657,148,000 | -966,560,000 | 0 | -1,362,863,000 | -6,608,566,000 | -1,361,438,000 | -2,225,391,000 | -1,293,275,000 | -1,863,724,000 | -1,248,213,000 | -1,408,177,000 | -1,810,203,000 | -154,957,000 | -1,660,041,000 | -548,611,000 | -954,717,000 | -1,982,478,000 | -1,767,008,000 | -1,098,113,000 | -2,254,351,000 | -7,385,813,000 | -2,636,659,000 | -684,300,000 | -2,763,793,000 | -8,944,656,000 | -1,658,809,000 | -7,086,954,000 | -972,893,002 | -1,450,490,869 | -3,065,095,844 | -1,189,243,231 | -661,583,055 | -83,837,175 | -270,587,061 | -147,963,888 | ||||||
purchases of u.s. treasury securities | -501,709,000 | -598,705,000 | -504,277,000 | 0 | 0 | -772,254,000 | -97,003,000 | -354,625,000 | -491,750,000 | 0 | -619,373,000 | -827,644,000 | -551,553,000 | -786,656,000 | -2,654,611,000 | -198,968,000 | -398,793,000 | 0 | -390,126,000 | 0 | 0 | -858,215,000 | -3,763,561,000 | 0 | -257,738,000 | -1,326,281,000 | -101,039,000 | 0 | -97,708,000 | 0 | -668,120,000 | -995,651,000 | 0 | -1,840,683,000 | |||||||||||||||||||||||||||||
principal repayments of agency securities | 712,142,000 | 658,456,000 | 404,276,000 | 360,175,000 | 274,007,000 | 366,263,000 | 241,994,000 | 262,820,000 | 182,548,000 | 180,828,000 | 218,320,000 | 255,487,000 | 148,523,000 | 121,760,000 | 164,392,000 | 156,101,000 | 131,356,000 | 180,052,000 | 188,295,000 | 223,916,000 | 278,722,000 | 295,016,000 | 255,992,000 | 190,390,000 | 475,766,000 | 665,271,000 | 576,351,000 | 314,007,000 | 145,777,000 | 164,291,000 | 197,145,000 | 162,849,000 | 167,649,000 | 197,495,000 | 178,343,000 | 191,312,000 | 208,031,000 | 317,492,000 | 292,813,000 | 358,481,000 | 368,885,000 | 424,298,000 | 492,977,000 | 512,133,000 | 481,387,000 | 518,558,000 | 554,786,000 | 426,023,000 | 307,214,000 | 339,943,000 | 640,829,000 | 946,179,000 | 1,208,551,000 | 445,817,000 | 331,955,000 | 408,472,875 | 243,118,968 | 112,102,228 | 71,252,666 | 28,593,382 | 22,241,258 | 20,755,677 | 6,562,794 |
proceeds from sales of agency securities | 891,124,000 | 292,545,000 | 115,485,000 | 992,009,000 | 234,204,000 | 567,181,000 | 484,464,000 | 3,189,974,000 | 347,896,000 | 2,039,469,000 | 242,657,000 | 2,955,588,000 | 1,052,878,000 | 2,958,331,000 | 1,193,322,000 | 79,327,000 | 0 | 496,003,000 | 405,050,000 | 42,376,000 | 61,746,000 | 1,078,092,000 | 9,777,373,000 | 663,962,000 | 1,116,256,000 | 96,725,000 | 1,017,396,000 | 1,330,445,000 | 1,008,355,000 | 1,088,219,000 | 1,068,996,000 | 652,894,000 | 671,909,000 | 1,300,229,000 | 1,387,366,000 | 1,766,983,000 | 543,480,000 | 3,095,479,000 | 1,789,215,000 | 2,218,293,000 | 1,076,674,000 | 692,324,000 | 1,626,904,000 | 2,911,426,000 | 643,641,000 | 1,500,244,000 | 5,279,609,000 | 3,996,138,000 | 6,101,485,000 | 4,812,818,000 | 701,476,000 | 212,417,000 | 452,171,000 | 732,780,989 | 0 | 0 | 0 | 31,531,266 | |||||
proceeds from sales of u.s. treasury securities | 99,668,000 | 251,885,000 | -1,000 | 0 | 190,743,000 | 859,277,000 | 656,289,000 | 0 | 0 | 613,852,000 | 1,305,663,000 | 1,133,515,000 | 1,462,260,000 | 1,470,125,000 | 194,867,000 | 194,719,000 | 0 | 390,098,000 | 0 | 0 | 857,801,000 | 3,785,248,000 | 0 | 256,985,000 | 1,329,660,000 | 199,445,000 | 0 | 0 | 0 | -21,717,000 | |||||||||||||||||||||||||||||||||
disbursements on reverse repurchase agreements | 0 | -51,125,000 | -1,604,500,000 | -613,250,000 | -1,021,188,000 | -627,375,000 | -1,754,761,000 | -2,425,876,000 | 0 | 0 | 0 | -391,125,000 | 0 | 0 | -13,970,623,000 | -1,025,000,000 | 0 | -3,526,509,000 | |||||||||||||||||||||||||||||||||||||||||||||
receipts from reverse repurchase agreements | 0 | 569,250,000 | 1,599,125,000 | 598,750,000 | 1,045,876,000 | 603,250,000 | 2,368,512,000 | 1,667,250,000 | 0 | 0 | 0 | 391,125,000 | 0 | 0 | 13,970,623,000 | 2,053,661,000 | 0 | 5,405,305,000 | |||||||||||||||||||||||||||||||||||||||||||||
decrease in cash collateral posted by counterparties | -18,238,000 | 120,426,000 | -4,089,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash equivalents and cash collateral posted to counterparties used in investing activities | -839,650,000 | -1,358,428,000 | -737,311,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of series c preferred stock, net of expenses | 6,358,000 | 3,803,000 | 0 | 0 | 279,000 | 0 | 0 | 8,412,000 | 28,173,000 | 1,042,000 | 0 | -125,000 | 129,221,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of common stock, net of expenses | 215,356,000 | -78,000 | 403,658,000 | 99,112,000 | 371,425,000 | 138,146,000 | 127,498,000 | 15,000 | 1,000 | -31,000 | 195,131,000 | 73,812,000 | 181,205,000 | 174,153,000 | 167,246,000 | 87,711,000 | 46,427,000 | 67,484,000 | 49,072,000 | 159,264,000 | 52,960,000 | 5,689,000 | 0 | 0 | -32,000 | -100,000 | 321,992,000 | 29,015,000 | 8,000,000 | 8,500,000 | 23,000 | 44,000 | 37,000 | 43,000 | 56,000 | 72,000 | 60,000 | 75,000 | 38,000 | 122,000 | -75,000 | 438,481,000 | 71,902,000 | 555,911,000 | 72,421,146 | 80,563,803 | |||||||||||||||||
proceeds from repurchase agreements | 38,059,150,000 | 50,566,239,000 | 37,740,396,000 | 42,409,383,000 | 26,294,795,000 | 33,708,903,000 | 29,757,081,000 | 18,806,565,000 | 23,129,610,000 | 29,872,895,000 | 32,445,141,000 | 29,869,433,000 | 27,517,265,000 | 23,358,106,000 | 22,049,776,000 | 18,488,023,000 | 16,191,551,000 | 4,004,222,000 | 7,688,413,000 | 8,501,129,000 | 7,044,307,000 | 5,467,860,000 | 8,935,528,000 | 11,123,389,000 | 42,459,521,000 | 30,046,156,000 | 46,465,219,000 | 46,047,946,000 | 50,656,945,000 | 41,104,949,000 | 55,313,906,000 | 53,425,364,000 | 35,593,550,000 | 37,518,711,000 | 34,077,380,000 | 34,843,573,000 | 35,245,549,000 | 31,411,430,000 | 31,555,622,000 | 36,610,220,000 | 40,339,908,000 | 25,993,811,000 | 24,326,060,000 | 19,654,726,000 | 20,966,843,000 | 20,824,397,000 | 17,084,870,000 | 19,751,076,000 | 23,322,303,000 | 22,853,755,000 | 20,610,657,000 | 36,930,665,000 | 42,366,300,000 | 31,719,406,000 | 25,719,289,000 | 10,409,101,818 | 14,888,804,370 | 9,230,234,215 | 4,541,638,738 | 1,600,350,775 | 1,345,836,107 | 584,373,818 | 306,657,050 |
principal repayments on repurchase agreements | -37,537,112,000 | -49,181,869,000 | -34,511,182,000 | -42,084,713,000 | -24,503,333,000 | -33,206,176,000 | -26,618,308,000 | -21,002,612,000 | -23,364,903,000 | -31,375,168,000 | -30,574,778,000 | -31,294,517,000 | -23,625,686,000 | -24,440,838,000 | -20,492,257,000 | -18,235,480,000 | -13,699,584,000 | -3,506,624,000 | -7,899,341,000 | -8,650,552,000 | -7,769,582,000 | -5,442,590,000 | -8,662,336,000 | -10,351,258,000 | -50,348,596,000 | -30,370,703,000 | -48,082,971,000 | -44,894,374,000 | -45,551,322,000 | -41,286,032,000 | -54,349,361,000 | -54,024,890,000 | -36,295,752,000 | -37,188,508,000 | -33,147,468,000 | -35,062,165,000 | -35,549,608,000 | -31,953,647,000 | -32,166,594,000 | -39,152,044,000 | -41,986,530,000 | -27,018,903,000 | -25,153,282,000 | -20,136,701,000 | -20,943,994,000 | -22,397,561,000 | -17,052,026,000 | -19,492,210,000 | -21,310,432,000 | -24,619,775,000 | -27,335,553,000 | -40,116,859,000 | -35,903,781,000 | -30,705,751,000 | -19,957,390,000 | -10,294,664,813 | -14,322,505,277 | -6,674,374,213 | -3,413,948,151 | -1,119,402,138 | -1,189,812,409 | -418,195,587 | -184,520,559 |
series c preferred stock dividends paid | -3,175,000 | -3,032,000 | -3,003,000 | -3,003,000 | -3,000,000 | -2,996,000 | -2,995,000 | -2,996,000 | -2,995,000 | -2,996,000 | -2,995,000 | -2,996,000 | -2,995,000 | -2,996,000 | -2,995,000 | -2,996,000 | -2,995,000 | -2,996,000 | -2,995,000 | -2,996,000 | -2,486,000 | -2,320,000 | -2,320,000 | -2,320,000 | -1,452,000 | ||||||||||||||||||||||||||||||||||||||
common stock dividends paid | -86,263,000 | -80,745,000 | -76,183,000 | -60,426,000 | -54,070,000 | -42,926,000 | -37,466,000 | -35,256,000 | -35,302,000 | -59,014,000 | -56,838,000 | -48,337,000 | -52,004,000 | -44,014,000 | -37,145,000 | -32,157,000 | -29,108,000 | -27,915,000 | -25,461,000 | -23,197,000 | -20,057,000 | -19,643,000 | -19,590,000 | -5,876,000 | -30,377,000 | -30,177,000 | -30,288,000 | -34,198,000 | -29,814,000 | -24,543,000 | -24,207,000 | -24,136,000 | -24,138,000 | -23,959,000 | -23,548,000 | -20,951,000 | -20,951,000 | -24,258,000 | -24,261,000 | -26,099,000 | -36,393,000 | -39,473,000 | -42,916,000 | -42,267,000 | -42,486,000 | -53,768,000 | -53,769,000 | -53,773,000 | -53,853,000 | -55,822,000 | -78,227,000 | ||||||||||||
common stock repurchased | -2,013,000 | 0 | -9,916,000 | 0 | 0 | 0 | -1,344,000 | -3,559,000 | 1,000 | -2,072,000 | -4,305,000 | -6,120,000 | 0 | 0 | 0 | 0 | -777,000 | 0 | -5,625,000 | -108,501,000 | -26,944,000 | -6,693,000 | -2,804,000 | -3,165,000 | 0 | 0 | -2,585,000 | -32,752,000 | 0 | ||||||||||||||||||||||||||||||||||
net cash and cash equivalents and cash collateral posted to counterparties provided by financing activities | 652,301,000 | 1,304,318,000 | 594,951,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents and cash collateral posted to counterparties | -75,793,000 | -18,549,000 | -114,032,000 | 159,063,000 | 117,306,000 | -51,918,000 | 9,196,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents and cash collateral posted to counterparties - beginning of period | 289,971,000 | 0 | 0 | 146,183,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents and cash collateral posted to counterparties - end of period | 214,178,000 | -114,032,000 | 159,063,000 | 263,489,000 | 9,196,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid during the period for interest | 199,497,000 | 193,610,000 | 181,613,000 | 132,272,000 | 184,660,000 | 198,339,000 | 136,718,000 | 179,044,000 | 162,011,000 | 107,680,000 | 3,708,000 | 5,505,000 | 4,193,000 | 12,361,000 | 27,045,000 | 139,313,000 | 155,369,000 | 88,378,000 | 98,627,000 | 65,987,000 | 38,290,000 | 53,651,000 | 40,756,000 | 21,014,000 | 36,117,000 | 36,494,000 | 26,596,000 | 67,668,000 | 43,978,000 | 47,790,000 | 93,160,000 | 95,144,000 | 31,605,000 | 70,351,000 | 94,568,000 | 48,309,000 | 55,254,000 | 25,534,000 | 20,478,000 | 3,179,825 | 2,874,112 | 1,865,131 | 1,104,971 | 367,515 | 315,556 | 111,842 | 88,381 | ||||||||||||||||
non-cash investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payable for unsettled purchases | -148,241,000 | -229,161,000 | 561,155,000 | 483,754,000 | -245,948,000 | -141,632,000 | -199,683,000 | -416,772,000 | -89,865,000 | 295,991,000 | -75,029,000 | -913,964,000 | 470,441,000 | 198,172,000 | 234,916,000 | 227,409,000 | 361,080,000 | 467,562,000 | 85,958,000 | 14,955,000 | -344,017,000 | 382,833,000 | |||||||||||||||||||||||||||||||||||||||||
net amortization of premium (discount) on agency securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net amortization of u.s. treasury securities | -42,000 | 66,000 | -1,000 | -801,000 | -19,000 | 0 | 0 | 0 | 84,000 | -1,000 | 18,000 | 74,000 | -453,000 | -592,000 | -403,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
realized loss on sale of agency securities, available for sale | 0 | 0 | 0 | 7,471,000 | -49,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in prepaid and other assets | 969,000 | -1,443,000 | 2,754,000 | -2,567,000 | -458,000 | 2,411,000 | -2,352,000 | 240,000 | -277,000 | 992,000 | 13,000 | 459,000 | -331,000 | 56,000 | -15,000 | 52,000 | 234,000 | -371,000 | 2,182,000 | -2,387,000 | 422,000 | 40,000 | 356,000 | 68,000 | |||||||||||||||||||||||||||||||||||||||
increase in cash collateral posted by counterparties | -184,955,000 | -178,400,000 | 141,079,000 | -227,417,000 | -7,165,000 | 67,230,000 | -273,197,000 | 169,671,000 | 110,154,000 | -110,089,000 | -36,816,000 | 181,561,000 | 269,188,000 | 378,598,000 | 16,347,000 | 47,815,000 | 115,339,000 | -10,352,000 | 6,609,000 | -31,125,000 | -47,387,000 | ||||||||||||||||||||||||||||||||||||||||||
proceeds from subordinated loan due to buckler | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents and cash collateral posted to counterparties - beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents and cash collateral posted to counterparties - end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid during the year for interest | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net unrealized gain on available for sale agency securities | 0 | 0 | 0 | 4,056,000 | -16,091,000 | 13,003,000 | 7,654,000 | -38,143,000 | -42,219,000 | 93,909,000 | 173,016,000 | 184,248,000 | 64,468,000 | -58,270,000 | -49,587,000 | -145,410,000 | -46,352,000 | 11,886,000 | 15,182,000 | 6,114,000 | -238,093,000 | -7,525,000 | 67,123,000 | 191,912,000 | -168,443,000 | 137,312,000 | -221,802,000 | 89,731,000 | 129,706,000 | -124,033,000 | 221,766,000 | 116,165,000 | -51,777,000 | ||||||||||||||||||||||||||||||
non-cash financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amounts receivable for issuance of preferred stock | -553,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on agency securities, trading | -120,366,000 | 503,000 | -12,149,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivable for unsettled sales | 35,948,000 | 1,665,000 | 358,670,000 | 688,183,000 | 147,496,000 | 68,796,000 | 649,323,000 | -2,741,972,000 | 296,378,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
amounts receivable for issuance of common stock | -1,000 | -12,000 | 13,000 | 6,000 | 2,000 | 0 | 5,000 | 1,000 | 2,000 | 512 | -8,220,936 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net loss | -31,359,000 | 81,413,000 | 58,386,000 | 51,748,000 | -406,659,000 | 94,096,000 | -279,475,000 | 117,798,000 | -125,469,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash equivalents and cash collateral posted to counterparties provided by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in accrued interest receivable | -681,000 | -9,562,000 | 9,309,000 | 914,000 | 1,610,000 | -8,942,000 | -4,338,000 | -6,064,000 | -2,846,000 | -17,178,000 | 1,423,000 | 1,971,000 | -1,558,000 | -2,900,000 | 774,000 | -29,000 | 818,000 | 2,077,000 | 8,903,000 | 5,617,000 | 2,468,000 | 2,968,000 | 1,140,000 | 240,000 | 3,120,000 | 3,966,000 | |||||||||||||||||||||||||||||||||||||
decrease in accrued interest payable- u.s. treasury securities sold short | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash equivalents and cash collateral posted to counterparties from investing activities | -216,223,000 | -2,090,272,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash equivalents and cash collateral posted to counterparties from financing activities | 350,322,000 | 2,106,096,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment losses on available for sale agency securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on u.s. treasury securities | 21,695,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from subordinated loan due from buckler | 0 | 0 | 105,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amounts payable for common stock repurchased | -5,128,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash and cash collateral posted to counterparties provided by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties provided by operating activities | 96,812,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties from investing activities | 178,780,000 | 664,605,000 | -1,701,008,000 | -405,918,000 | -2,452,654,000 | -143,109,000 | -217,364,000 | -1,152,729,000 | 8,598,930,000 | 248,546,000 | 1,701,466,000 | -951,744,000 | -5,388,039,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties from financing activities | -274,933,000 | -961,709,000 | 1,684,625,000 | 303,557,000 | 2,506,291,000 | 10,038,000 | 251,282,000 | 812,696,000 | -8,003,418,000 | -333,851,000 | -1,694,646,000 | 1,106,410,000 | 5,393,542,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash collateral posted to counterparties | 659,000 | -69,129,000 | -43,104,000 | 141,237,000 | -92,416,000 | -30,067,000 | 199,954,000 | 158,682,000 | -95,960,000 | 86,910,000 | -503,514,000 | 411,066,000 | -13,709,000 | -61,947,000 | 122,454,000 | -5,831,000 | |||||||||||||||||||||||||||||||||||||||||||||||
cash and cash collateral posted to counterparties - beginning of period | 258,858,000 | 0 | 0 | 118,090,000 | 0 | 0 | 356,216,000 | 0 | 0 | 171,668,000 | 0 | 0 | 273,166,000 | 0 | 0 | 232,199,000 | |||||||||||||||||||||||||||||||||||||||||||||||
cash and cash collateral posted to counterparties - end of period | 259,517,000 | -69,129,000 | -43,104,000 | 259,327,000 | 74,043,000 | -92,416,000 | 326,149,000 | -374,112,000 | 199,954,000 | 330,350,000 | 86,910,000 | -503,514,000 | 684,232,000 | -61,947,000 | 122,454,000 | 226,368,000 | |||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash collateral posted to counterparties provided by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
credit loss expense | 0 | 0 | 0 | 1,012,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
disbursements on reverse repurchase agreements, with buckler | 0 | -1,033,125,000 | -24,678,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receipts from reverse repurchase agreements, with buckler | 512,500,000 | 1,025,000,000 | 224,579,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties used in investing activities | -2,101,965,000 | 1,370,494,000 | -3,926,462,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties provided by financing activities | 2,005,662,000 | -1,404,677,000 | 4,013,480,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash and cash collateral posted to counterparties from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties from operating activities | -8,921,000 | 54,219,000 | 9,945,000 | -83,704,000 | -12,646,000 | -12,535,000 | 15,722,000 | 21,197,000 | 71,596,000 | -68,767,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash collateral posted to counterparties from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion of net discount on credit risk and non-agency securities | 0 | -320,000 | -1,451,000 | -1,078,000 | -690,000 | -761,000 | -573,000 | -932,000 | -771,000 | -572,000 | -597,000 | -1,006,000 | -679,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
loss on credit risk and non-agency securities | 0 | 6,633,000 | -189,000 | 183,111,000 | -1,649,000 | 8,842,000 | 23,200,000 | 2,115,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of credit risk and non-agency securities | 0 | 0 | 0 | -237,928,000 | -128,230,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
principal repayments of credit risk and non-agency securities | 0 | 1,998,000 | 12,364,000 | 31,404,000 | 24,455,000 | 13,540,000 | 9,311,000 | 6,335,000 | 7,213,000 | 8,896,000 | 8,560,000 | 9,168,000 | 10,114,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sales of credit risk and non-agency securities | 0 | 57,659,000 | 758,961,000 | 72,437,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
continued | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemption of series b preferred stock, net of expenses | 0 | 0 | 0 | -209,583,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series b preferred stock dividends paid | 0 | 0 | 0 | -1,375,000 | -3,691,000 | -3,410,000 | -3,149,000 | -3,135,000 | -3,135,000 | -3,135,000 | -3,135,000 | -3,129,000 | -3,004,000 | -2,816,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,780,000 | -2,781,000 | -2,781,000 | -2,781,000 | -2,781,000 | ||||||||||||||||||||||||||||||||||
cash and cash collateral posted to counterparties - beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash collateral posted to counterparties - end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net unrealized loss on available for sale agency securities | -16,961,000 | 7,842,000 | -34,880,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash collateral posted to counterparties | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
realized gain on sale of agency securities, available for sale | 126,000 | -3,724,000 | 0 | -7,354,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on short sale of u.s. treasury securities | 0 | 0 | 0 | 28,000 | 0 | 0 | 1,993,000 | -3,086,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
net amortization of interest-only securities | 2,000 | -1,000 | 987,000 | 936,000 | 942,000 | 994,000 | 1,069,000 | 1,117,000 | 1,167,000 | 1,198,000 | 1,232,000 | 1,311,000 | 4,087,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
gain on interest-only securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sales of interest-only securities | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemption of series a preferred stock, net of expenses | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of series b preferred stock, net of expenses | 24,564,000 | 16,975,000 | 0 | 0 | 0 | 2,632,000 | 8,010,000 | 0 | 0 | -18,000 | 136,571,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred stock dividends paid | 0 | 0 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,125,000 | -1,124,000 | -1,122,000 | -1,125,000 | -1,126,000 | -1,124,000 | -1,124,000 | ||||||||||||||||||||||||||||||||||||||
decrease in accrued interest payable- repurchase agreements | -14,000 | -467,000 | -610,000 | 763,000 | -1,178,000 | 2,147,000 | -390,000 | -2,868,000 | 861,000 | -2,004,000 | -1,469,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties provided by investing activities | -171,265,000 | 192,172,000 | 804,170,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties used in financing activities | -190,312,000 | -7,940,000 | -666,685,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss on interest-only securities | -491,000 | 368,000 | 1,065,000 | -210,000 | 450,000 | -298,000 | 326,000 | 183,000 | -1,286,000 | 3,743,000 | 1,105,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash and cash collateral posted to counterparties used in operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash and cash collateral posted to counterparties used in operating activities | 52,992,000 | -163,481,000 | -184,446,000 | -11,334,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amounts receivable for issuance of preferred b stock | 149,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amounts payable for series a preferred stock, called for redemption | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
realized loss on sale of agency securities | -93,325,000 | 43,000 | 2,910,000 | 63,895,000 | 31,136,000 | 25,316,000 | 32,603,000 | -2,237,000 | -891,000 | 460,000 | 11,154,000 | -124,000 | 331,929,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other than temporary impairment of agency securities | 0 | 0 | 0 | 12,090,000 | 3,297,000 | 72,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loan to buckler | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
realized gain on sale of agency securities | -2,421,000 | -14,625,000 | -1,891,000 | -69,000 | 5,051,000 | -6,544,000 | -11,167,000 | -69,869,000 | -20,876,000 | -18,514,000 | 1,268,000 | -6,316,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
gain on credit risk and non-agency securities | -496,000 | -1,283,000 | -18,748,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
bargain purchase price on acquisition of javelin | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of interest-only securities | 0 | -86,324,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from the acquisition of javelin | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loans to buckler | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from operating activities | 30,098,000 | 17,884,000 | -607,000 | 13,292,000 | 37,255,000 | 64,571,000 | -5,039,000 | -31,727,000 | 73,559,000 | -36,552,000 | -208,706,000 | 57,767,000 | 69,552,000 | 37,838,000 | 73,098,000 | 109,921,000 | 39,433,000 | 89,056,000 | 76,690,000 | 70,218,000 | 86,273,000 | 118,981,000 | 94,966,000 | 52,272,000 | 35,601,000 | 44,843,090 | 40,561,680 | 21,419,642 | 11,247,195 | 3,890,876 | 3,375,541 | 1,121,671 | 776,562 | ||||||||||||||||||||||||||||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||
free cash flows | 30,098,000 | 17,884,000 | -607,000 | 13,292,000 | 37,255,000 | 64,571,000 | -5,039,000 | -31,727,000 | 73,559,000 | -36,552,000 | -208,706,000 | 57,767,000 | 69,552,000 | 37,838,000 | 73,098,000 | 109,921,000 | 39,433,000 | 89,056,000 | 76,690,000 | 70,218,000 | 86,273,000 | 118,981,000 | 94,966,000 | 52,272,000 | 35,601,000 | 44,843,090 | 40,561,680 | 21,419,642 | 11,247,195 | 3,890,876 | 3,375,541 | 1,121,671 | 776,562 | ||||||||||||||||||||||||||||||
increase in cash collateral | 64,671,000 | 37,710,000 | 102,140,000 | 1,057,000 | -41,132,000 | 61,556,000 | 27,513,000 | 37,291,000 | -42,305,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loans due from buckler | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities | -1,044,032,000 | 729,089,000 | 679,833,000 | -366,125,000 | -1,067,177,000 | 279,859,000 | 256,640,000 | 486,714,000 | 578,046,000 | 2,754,445,000 | 1,848,995,000 | 1,132,618,000 | 744,668,000 | 386,352,000 | -67,530,000 | 1,477,787,000 | 1,119,366,000 | -1,457,690,000 | -1,935,939,000 | 1,788,241,000 | 8,276,661,000 | 1,259,962,000 | -6,989,373,000 | -1,055,012,000 | -6,294,278,000 | -326,018,290 | -522,285,740 | -2,670,254,804 | -1,221,297,276 | -518,701,823 | -165,335,935 | -175,837,246 | -126,714,181 | ||||||||||||||||||||||||||||||
net cash from financing activities | 945,078,000 | -627,922,000 | -727,961,000 | 318,125,000 | 917,729,000 | -126,756,000 | -328,915,000 | -585,039,000 | -639,138,000 | -2,571,829,000 | -1,686,920,000 | -1,176,949,000 | -900,943,000 | -534,804,000 | -26,303,000 | -1,635,936,000 | -1,049,159,000 | 1,212,951,000 | 1,951,603,000 | -1,858,461,000 | -8,669,306,000 | -1,412,592,000 | 6,959,626,000 | 1,064,726,000 | 6,271,055,000 | 283,061,756 | 543,976,083 | 2,789,894,867 | 1,221,880,335 | 538,190,334 | 152,037,646 | 193,821,087 | 122,066,044 | ||||||||||||||||||||||||||||||
net increase in cash | -68,856,000 | -112,193,000 | 12,467,000 | -20,735,000 | -48,228,000 | 109,640,000 | -155,683,000 | 92,354,000 | -2,000 | -306,372,000 | -33,649,000 | 65,219,000 | 61,986,000 | 12,378,000 | 1,886,556 | 62,252,023 | 141,059,705 | 11,830,254 | |||||||||||||||||||||||||||||||||||||||||||||
cash - beginning of period | 0 | 0 | 265,232,000 | 0 | 0 | 271,773,000 | 0 | 0 | 289,925,000 | 0 | 0 | 494,561,000 | 0 | 0 | 496,478,000 | 0 | 771,282,000 | 0 | 252,372,000 | 0 | 0 | 35,343,907 | |||||||||||||||||||||||||||||||||||||||||
cash - end of period | -68,856,000 | 119,051,000 | 216,497,000 | -112,193,000 | 217,674,000 | 194,459,000 | 12,467,000 | 146,064,000 | 243,294,000 | -86,723,000 | -110,614,000 | 473,826,000 | 109,640,000 | -155,683,000 | 588,832,000 | -33,649,000 | 836,501,000 | 61,986,000 | 264,750,000 | 62,252,023 | 141,059,705 | 47,174,161 | |||||||||||||||||||||||||||||||||||||||||
gain on of u.s. treasury securities | -2,576,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash | -48,735,000 | -77,314,000 | -46,631,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in derivatives, at fair value | -49,098,000 | -57,159,000 | -193,209,000 | -25,999,000 | -55,544,000 | 64,718,000 | -104,913,000 | 261,870,000 | -196,486,000 | 194,956,000 | 223,925,000 | -47,645,000 | 127,997,000 | 178,791,000 | -143,423,000 | -19,954,000 | |||||||||||||||||||||||||||||||||||||||||||||||
decrease in accounts payable and other accrued expenses | -2,377,000 | -849,000 | 462,000 | -1,239,000 | 12,667,000 | 641,000 | -3,632,000 | -13,960,000 | 576,000 | 2,433,000 | 138,000 | -15,849,000 | 210,000 | -460,000 | -19,694,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
decrease in cash collateral | -185,189,000 | -9,609,000 | -100,945,000 | -136,949,000 | 88,819,000 | 339,851,000 | 143,554,000 | 45,256,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash - beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash - end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash investing and financing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accretion of net discount on non-agency securities | -1,218,000 | -848,000 | -782,000 | -747,000 | -770,000 | 181,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on non-agency securities | -30,211,000 | -24,284,000 | -5,325,000 | -39,522,000 | -10,151,000 | -4,122,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in derivatives, at fair value | -32,582,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of non-agency securities | 0 | -8,224,000 | -121,922,000 | -68,186,000 | -425,680,000 | -266,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
principal repayments of non-agency securities | 102,663,000 | 16,088,000 | 15,335,000 | 23,707,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
subordinated loan due from buckler | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sales of non-agency securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from short sales of u.s. treasury securities | 993,658,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest-only securities income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of series a preferred stock, net of expenses | 0 | 0 | -1,000 | 4,381,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accrued interest payable | -1,120,000 | -588,000 | -1,187,000 | -2,269,000 | -217,000 | 238,000 | 1,259,000 | -41,000 | -14,897,493 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash collateral posted to/by counterparties | -276,372,000 | 136,612,000 | -193,343,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in accrued interest payable | -1,514,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on short sale of u.s. treasury securities | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents - beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents - end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents - beginning of period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents- end of period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
realized gain on short sale of u.s. treasury securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series a preferred dividends paid | -1,125,000 | -1,107,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
series b preferred dividends paid | -2,781,000 | -1,390,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for income taxes | 4,000 | 8,000 | 2,702 | 3,618 | 3,213 | 12,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivable for unsettled security sales | -2,159,176,000 | 2,226,168,000 | 218,873,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payable for unsettled security purchases | -118,815,000 | 391,678,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock dividends declared, to be paid in subsequent period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred dividends declared, to be paid in subsequent period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accounts payable and accrued expenses | -970,000 | 251,000 | 1,247,000 | 1,498,321 | -427,296 | 904,111 | 516,945 | 133,980 | 13,429 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
common dividends paid | -79,829,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on investment on agency securities | -180,055,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common dividends declared, to be paid in subsequent period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in restricted cash | -17,274,241 | -74,613,110 | -41,598,061 | -9,032,619 | 2,181,485 | -3,001,912 | -3,193,176 | -367,720 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of preferred stock, net of expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred dividends paid | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on derivatives | 46,126,000 | -20,938,000 | 27,254,555 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in prepaid income taxes and other assets | -465,000 | -213,000 | -13,417 | -42,677 | -95,728 | 525,869 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in restricted cash | -54,437,000 | 8,550,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on investment in available for sale securities | 112,328,000 | 11,622,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid | -46,755,000 | -29,040,185 | -28,273,703 | -20,213,757 | -9,767,958 | -6,994,118 | -921,623 | -921,621 | -70,447 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends declared, to be paid in subsequent period | 91,000 | -2,447,719 | 1,854,928 | 0 | 921,622 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash received from trust | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for stock redemptions | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in capital due to waiver of accrued deferred underwriters’ fees | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of agency securities | 0 | 0 | 105 | -208,199 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in payable for unsettled security purchases | 172,429,020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net unrealized gain on investment in available for sale securities | 30,994,346 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in fair value of interest rate contract liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in fair value of interest rate contracts | 2,135,653 | -2,864,030 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unsettled security purchases | -103,306,711 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sale of common stock, net of expenses | 112,990,325 | 62,054,330 | -62,517 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash investing activity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net unrealizedgain or investment in available for sale securities | -245,437 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in prepaid income taxes and other assets | -241,660 | -24,296 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in payable for unsettled securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment income in trust account, net of expenses and taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash financing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in payable for unsettled securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash | -9,922,748 | 19,105,512 | -3,871,575 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash – beginning | 0 | 0 | 6,653,331 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash – end | -9,922,748 | 19,105,512 | 2,781,756 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net (loss) to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on interest rate contracts | 1,456,524 | 596,925 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in prepaid income taxes and other assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in accrued interest payable and accrued expenses | 128,348 | 32,265 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unsettled security sales | -15,927,169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
margin advances to broker | -1,325,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
margin return from broker | 407,816 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net amortization of premium and discount on agency securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest rate contracts | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash held in trust account | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from offerings | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payment of costs associated with offering | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from note payable to related party | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of note payable to related party | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrued offering costs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accrual of deferred underwriters’ fees |