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As-Reported Income Statement

 2013 Y2014 Y2015 Y2016 Y2017 Q2 YTD
Source Document12/31/201512/31/201612/31/201612/31/20166/30/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest Income 
Agency Securities, net of amortization of premium and fees 505,443450,927365,300225,79689,018
Non-Agency Securities, including discount accretion NA0036,57328,412
Interest-Only Securities NA001,6261,180
Total Interest Income NA450,927365,300263,995118,610
Interest expense- repurchase agreements (83,113)(59,562)(59,278)(73,107)(38,580)
Interest expense- U.S. Treasury Securities sold short (1,437)(5,551)00NA
Net Interest Income 420,893385,814306,022190,88880,030
Other Income (Loss) 
Realized gain (loss) on sale of Agency Securities (reclassified from Other comprehensive income) (593,498)68,770(11,546)(18,211)(11,614)
Other than temporary impairment of Agency Securities (reclassified from Other comprehensive income) (401,541)00(6,540)(10,338)
Gain on Non-Agency Securities NA0059,12054,495
Gain (loss) on Interest-Only Securities NA006,431(2,457)
Gain (loss) on short sale of U.S. Treasury Securities 15,508(14,688)00NA
Bargain purchase price on acquisition of JAVELIN NA006,4840
Subtotal (979,531)54,082(11,546)47,28430,086
Realized gain (loss) on derivatives (135,908)(118,716)(107,070)(452,398)(2,608)
Unrealized gain (loss) on derivatives 544,643(462,630)(181,662)206,212(7,021)
Subtotal, net of derivatives 408,735(581,346)(288,732)(246,186)(9,629)
Total Other Income (Loss) (570,796)(527,264)(300,278)(198,902)20,457
Expenses 
Management fees 28,14127,85727,29226,07013,044
Professional fees 3,3113,7353,1175,2532,379
Insurance 5437266901,010473
Compensation 3,0472,7962,2912,260973
Other 2,1092,4843,5592,9101,201
Total Expenses 37,15137,59836,94937,50318,070
Loss before taxes (187,054)NANANANA
Income tax benefit 10NANANANA
Net Income (Loss) (187,044)(179,048)(31,205)(45,517)82,417
Dividends on preferred stock (14,213)(15,620)(15,622)(15,622)(7,811)
Net Income (Loss) related to common stockholders (201,257)(194,668)(46,827)(61,139)74,606
Net Income (Loss) per share related to common stockholders 
Basic (4.4)(4.32)(1.09)(1.67)2.03
Diluted (4.4)(4.32)(1.09)(1.67)2.03
Dividends declared per common share 6.484.83.893.021.14
Weighted average common shares outstanding 
Basic 45,35444,65442,78036,69836,753
Diluted 45,35444,65442,78036,69836,769
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) 
Net Income (Loss) (187,044)(179,048)(31,205)(45,517)82,417
Other comprehensive income (loss) 
Reclassification adjustment for realized (gain) loss on sale of available for sale Agency Securities 593,498(68,770)11,54618,21111,614
Reclassification adjustment for other than temporary impairment of available for sale Agency Securities 401,541006,54010,338
Net unrealized gain on available for sale Agency Securities (1,416,083)343,604(163,202)13,41721,296
Other comprehensive income (421,044)274,834(151,656)38,16843,248
Comprehensive Income (Loss) (608,088)95,786(182,861)(7,349)125,665


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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