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As-Reported Income Statement

 2014 Y2015 Y2016 Y2017 Y2018 Q2 YTD
Source Document12/31/201612/31/201712/31/201712/31/20176/30/2018
(in thousands)     
Interest Income 
Agency Securities, net of amortization of premium and fees 450,927365,300225,796196,301100,062
Credit Risk and Non-Agency Securities, including discount accretion 0036,57355,96928,336
Interest-Only Securities 001,6262,163859
U.S. Treasury Securities NANANANA3,649
BUCKLER Subordinated loans NANANANA1,054
Total Interest Income 450,927365,300263,995254,433133,960
Interest expense- repurchase agreements (59,562)(59,278)(73,107)(94,558)(67,724)
Interest expense- U.S. Treasury Securities sold short (5,551)NANANANA
Net Interest Income 385,814306,022190,888159,87566,236
Other Income (Loss) 
Realized loss on sale of Agency Securities (reclassified from Other comprehensive income (loss)) 68,770(11,546)(18,211)(8,486)(57,919)
Other than temporary impairment of Agency Securities (reclassified from Other comprehensive income) 00(6,540)(13,707)(12,090)
Gain (loss) on Credit Risk and Non-Agency Securities 0059,12065,672(1,951)
Gain (loss) on Interest-Only Securities 006,431(2,966)(152)
Bargain purchase price on acquisition of JAVELIN 006,4840NA
Loss on U.S. Treasury Securities (14,688)NANANA(6,308)
Subtotal 54,082(11,546)47,28440,513(78,420)
Realized gain (loss) on derivatives (118,716)(107,070)(452,398)(22,675)(52,945)
Unrealized gain (loss) on derivatives (462,630)(181,662)206,21239,272142,255
Subtotal- net of derivatives (581,346)(288,732)(246,186)16,59789,310
Total Other Income (Loss) (527,264)(300,278)(198,902)57,11010,890
Management fees 27,85727,29226,07026,58213,604
Professional fees 3,7353,1175,2534,5782,512
Insurance 7266901,010836330
Compensation 2,7962,2912,2602,2981,972
Other 2,4843,5592,9101,537399
Total Expenses 37,59836,94937,50335,83118,817
Net Income (179,048)(31,205)(45,517)181,15458,309
Dividends on preferred stock (15,620)(15,622)(15,622)(15,880)(8,513)
Net Income available to common stockholders (194,668)(46,827)(61,139)165,27449,796
Net Income per share available to common stockholders 
Basic (4.32)(1.09)(1.67)4.221.19
Diluted (4.32)(1.09)(1.67)4.171.18
Dividends declared per common share 4.83.893.022.281.14
Weighted average common shares outstanding 
Basic 44,65442,78036,69839,17041,900
Diluted 44,65442,78036,69839,64242,316
Net Income (179,048)(31,205)(45,517)181,15458,309
Other comprehensive income (loss) 
Reclassification adjustment for realized loss on sale of available for sale Agency Securities (68,770)11,54618,2118,48657,919
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)(194,997)
Other comprehensive income (loss) 274,834(151,656)38,1689,023(124,988)
Comprehensive Income (Loss) 95,786(182,861)(7,349)190,177(66,679)

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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