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As-Reported Income Statement

 2014 Y2015 Y2016 Y2017 Y2018 Q1 YTD
Source Document12/31/201612/31/201712/31/201712/31/20173/31/2018
(in thousands)     
Interest Income 
Agency Securities, net of amortization of premium and fees 450,927365,300225,796196,30152,253
Credit Risk and Non-Agency Securities, including discount accretion 0036,57355,96914,006
Interest-Only Securities 001,6262,163442
U.S. Treasury Securities NANANANA844
BUCKLER Subordinated loans NANANANA624
Total Interest Income 450,927365,300263,995254,43368,169
Interest expense- repurchase agreements (59,562)(59,278)(73,107)(94,558)(32,018)
Interest expense- U.S. Treasury Securities sold short (5,551)NANANANA
Net Interest Income 385,814306,022190,888159,87536,151
Other Income (Loss) 
Realized loss on sale of Agency Securities (reclassified from Other comprehensive income (loss)) 68,770(11,546)(18,211)(8,486)(32,603)
Other than temporary impairment of Agency Securities (reclassified from Other comprehensive income) 00(6,540)(13,707)(12,090)
Gain on Credit Risk and Non-Agency Securities 0059,12065,6721,283
Gain (loss) on Interest-Only Securities 006,431(2,966)298
Bargain purchase price on acquisition of JAVELIN 006,4840NA
Gain on U.S. Treasury Securities (14,688)NANANA2,576
Subtotal 54,082(11,546)47,28440,513(40,536)
Realized loss on derivatives (118,716)(107,070)(452,398)(22,675)(38,604)
Unrealized gain on derivatives (462,630)(181,662)206,21239,27297,201
Subtotal- net of derivatives (581,346)(288,732)(246,186)16,59758,597
Total Other Income (527,264)(300,278)(198,902)57,11018,061
Management fees 27,85727,29226,07026,5826,801
Professional fees 3,7353,1175,2534,5781,172
Insurance 7266901,010836165
Compensation 2,7962,2912,2602,298977
Other 2,4843,5592,9101,537350
Total Expenses 37,59836,94937,50335,8319,465
Net Income (179,048)(31,205)(45,517)181,15444,747
Dividends on preferred stock (15,620)(15,622)(15,622)(15,880)(4,253)
Net Income available to common stockholders (194,668)(46,827)(61,139)165,27440,494
Net Income per share available to common stockholders 
Basic (4.32)(1.09)(1.67)4.220.97
Diluted (4.32)(1.09)(1.67)4.170.96
Dividends declared per common share 4.83.893.022.280.57
Weighted average common shares outstanding 
Basic 44,65442,78036,69839,17041,887
Diluted 44,65442,78036,69839,64242,331
Net Income (179,048)(31,205)(45,517)181,15444,747
Other comprehensive income (loss) 
Reclassification adjustment for realized loss on sale of available for sale Agency Securities (68,770)11,54618,2118,48632,603
Reclassification adjustment for other than temporary impairment of available for sale Agency Securities 006,54013,70712,090
Net unrealized gain (loss) on available for sale Agency Securities 343,604(163,202)13,417(13,170)(145,410)
Other comprehensive income (loss) 274,834(151,656)38,1689,023(100,717)
Comprehensive Income (Loss) 95,786(182,861)(7,349)190,177(55,970)

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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