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As-Reported Income Statement

 2013 Y2014 Y2015 Y2016 Y2017 Q1 YTD
Source Document12/31/201512/31/201612/31/201612/31/20163/31/2017
(in thousands)     
Interest Income 
Agency Securities, net of amortization of premium and fees 505,443450,927365,300225,79644,081
Non-Agency Securities, including discount accretion NA0036,57313,898
Interest-Only Securities NA001,626603
Total Interest Income NA450,927365,300263,99558,582
Interest expense- repurchase agreements (83,113)(59,562)(59,278)(73,107)(18,064)
Interest expense- U.S. Treasury Securities sold short (1,437)(5,551)00NA
Net Interest Income 420,893385,814306,022190,88840,518
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)(11,154)
Other than temporary impairment of Agency Securities (reclassified from Other comprehensive income (loss)) (401,541)00(6,540)NA
Gain on Non-Agency Securities NA0059,12024,284
Loss on Interest-Only Securities NA006,431(3,743)
Gain (loss) on short sale of U.S. Treasury Securities 15,508(14,688)00NA
Bargain purchase price on acquisition of JAVELIN NA006,484NA
Subtotal (979,531)54,082(11,546)47,2849,387
Realized loss on derivatives (135,908)(118,716)(107,070)(452,398)(12,249)
Unrealized gain (loss) on derivatives 544,643(462,630)(181,662)206,21223,768
Subtotal, Net of derivatives 408,735(581,346)(288,732)(246,186)11,519
Total Other Income (Loss) (570,796)(527,264)(300,278)(198,902)20,906
Management fees 28,14127,85727,29226,0706,521
Professional fees 3,3113,7353,1175,253880
Insurance 5437266901,010277
Compensation 3,0472,7962,2912,260477
Other 2,1092,4843,5592,910551
Total Expenses 37,15137,59836,94937,5038,706
Loss before taxes (187,054)NANANANA
Income tax benefit 10NANANANA
Net Income (Loss) (187,044)(179,048)(31,205)(45,517)52,718
Dividends on preferred stock (14,213)(15,620)(15,622)(15,622)(3,905)
Net Income (Loss) related to common stockholders (201,257)(194,668)(46,827)(61,139)48,813
Net Income (Loss) per share related to common stockholders 
Basic (4.4)(4.32)(1.09)(1.67)1.33
Diluted (4.4)(4.32)(1.09)(1.67)1.33
Dividends declared per common share 6.484.83.893.020.57
Weighted average common shares outstanding 
Basic 45,35444,65442,78036,69836,724
Diluted 45,35444,65442,78036,69836,748
Net Income (Loss) (187,044)(179,048)(31,205)(45,517)52,718
Other comprehensive income (loss) 
Reclassification adjustment for realized (gain) loss on sale of available for sale Agency Securities 593,498(68,770)11,54618,21111,154
Reclassification adjustment for other than temporary impairment of available for sale Agency Securities 401,541006,540NA
Net unrealized gain on available for sale Agency Securities (1,416,083)343,604(163,202)13,4176,114
Other comprehensive income (421,044)274,834(151,656)38,16817,268
Comprehensive Income (Loss) (608,088)95,786(182,861)(7,349)69,986

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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