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As-Reported Income Statement

 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201512/31/201612/31/201612/31/2016
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
Interest Income 
Agency Securities, net of amortization of premium and fees 505,443450,927365,300225,796
Non-Agency Securities, including discount accretion NA0036,573
Interest-Only Securities NA001,626
Total Interest Income NA450,927365,300263,995
Interest expense- repurchase agreements (83,113)(59,562)(59,278)(73,107)
Interest expense- U.S. Treasury Securities sold short (1,437)(5,551)00
Net Interest Income 420,893385,814306,022190,888
Other Income (Loss) 
Realized gain (loss) on sale of Agency Securities (reclassified from Other comprehensive income (loss)) (593,498)68,770(11,546)(18,211)
Other than temporary impairment of Agency Securities (reclassified from Other comprehensive income (loss)) (401,541)00(6,540)
Gain on Non-Agency Securities NA0059,120
Gain on Interest-Only Securities NA006,431
Gain (loss) on short sale of U.S. Treasury Securities 15,508(14,688)00
Bargain purchase price on acquisition of JAVELIN NA006,484
Subtotal (979,531)54,082(11,546)47,284
Realized loss on derivatives (135,908)(118,716)(107,070)(452,398)
Unrealized gain (loss) on derivatives 544,643(462,630)(181,662)206,212
Subtotal, Net of Derivatives 408,735(581,346)(288,732)(246,186)
Total Other Loss (570,796)(527,264)(300,278)(198,902)
Expenses 
Management fees 28,14127,85727,29226,070
Professional fees 3,3113,7353,1175,253
Insurance 5437266901,010
Compensation 3,0472,7962,2912,260
Other 2,1092,4843,5592,910
Total Expenses 37,15137,59836,94937,503
Loss before taxes (187,054)NANANA
Income tax benefit 10NANANA
Net Loss (187,044)(179,048)(31,205)(45,517)
Dividends on preferred stock (14,213)(15,620)(15,622)(15,622)
Net Loss related to common stockholders (201,257)(194,668)(46,827)(61,139)
Net loss related per share to common stockholders 
Basic (4.4)(4.32)(1.09)(1.67)
Diluted (4.4)(4.32)(1.09)(1.67)
Dividends declared per common share 6.484.83.893.02
Weighted average common shares outstanding 
Basic 45,35444,65442,78036,698
Diluted 45,35444,65442,78036,698
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) 
Net Loss (187,044)(179,048)(31,205)(45,517)
Other comprehensive income (loss) 
Reclassification adjustment for realized (gain) loss on sale of available for sale Agency Securities 593,498(68,770)11,54618,211
Reclassification adjustment for other than temporary impairment of available for sale Agency Securities 401,541006,540
Net unrealized gain (loss) on available for sale Agency Securities (1,416,083)343,604(163,202)13,417
Other comprehensive income (loss) (421,044)274,834(151,656)38,168
Comprehensive Income (Loss) (608,088)95,786(182,861)(7,349)


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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