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As-Reported Income Statement

 2014 Y2015 Y2016 Y2017 Y2018 Q3 YTD
Source Document12/31/201612/31/201712/31/201712/31/20179/30/2018
(in thousands)     
Interest Income 
Agency Securities, net of amortization of premium and fees 450,927365,300225,796196,301156,848
Credit Risk and Non-Agency Securities, including discount accretion 0036,57355,96942,908
Interest-Only Securities 001,6262,1631,272
U.S. Treasury Securities NANANANA4,053
BUCKLER Subordinated loans NANANANA1,511
Total Interest Income 450,927365,300263,995254,433206,592
Interest expense- repurchase agreements (59,562)(59,278)(73,107)(94,558)(108,083)
Interest expense- U.S. Treasury Securities sold short (5,551)NANANANA
Net Interest Income 385,814306,022190,888159,87598,509
Other Income (Loss) 
Realized gain (loss) on sale of Agency Securities (reclassified from Other comprehensive income (loss)) 68,770(11,546)(18,211)(8,486)(89,055)
Other than temporary impairment of Agency Securities (reclassified from Other comprehensive income (loss)) 00(6,540)(13,707)(12,090)
Gain (loss) on Credit Risk and Non-Agency Securities 0059,12065,672(4,066)
Gain (loss) on Interest-Only Securities 006,431(2,966)58
Bargain purchase price on acquisition of JAVELIN 006,4840NA
Loss on U.S. Treasury Securities (14,688)NANANA(6,391)
Subtotal 54,082(11,546)47,28440,513(111,544)
Realized gain (loss) on derivatives (118,716)(107,070)(452,398)(22,675)(49,206)
Unrealized gain (loss) on derivatives (462,630)(181,662)206,21239,272196,426
Subtotal - Net of derivatives (581,346)(288,732)(246,186)16,597147,220
Total Other Income (Loss) (527,264)(300,278)(198,902)57,11035,676
Management fees 27,85727,29226,07026,58220,411
Professional fees 3,7353,1175,2534,5783,989
Insurance 7266901,010836472
Compensation 2,7962,2912,2602,2983,005
Other (income) 2,4843,5592,9101,537295
Total Expenses 37,59836,94937,50335,83128,172
Net Income (179,048)(31,205)(45,517)181,154106,013
Dividends on preferred stock (15,620)(15,622)(15,622)(15,880)(12,772)
Net Income available to common stockholders (194,668)(46,827)(61,139)165,27493,241
Net Income per share available to common stockholders 
Basic (4.32)(1.09)(1.67)4.222.22
Diluted (4.32)(1.09)(1.67)4.172.2
Dividends declared per common share 4.83.893.022.281.71
Weighted average common shares outstanding 
Basic 44,65442,78036,69839,17041,949
Diluted 44,65442,78036,69839,64242,337
Net Income (179,048)(31,205)(45,517)181,154106,013
Other comprehensive income (loss) 
Reclassification adjustment for realized (gain) loss on sale of available for sale Agency Securities (68,770)11,54618,2118,48689,055
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)(253,267)
Other comprehensive income (loss) 274,834(151,656)38,1689,023(152,122)
Comprehensive Income (Loss) 95,786(182,861)(7,349)190,177(46,109)

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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