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As-Reported Income Statement

 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
(in thousands)     
Interest Income 
Agency Securities, net of amortization of premium and fees 505,443450,927365,300225,796141,310
Credit Risk and Non-Agency Securities, including discount accretion NA0036,57342,385
Interest-Only Securities NA001,6261,696
Total Interest Income NA450,927365,300263,995185,391
Interest expense- repurchase agreements (83,113)(59,562)(59,278)(73,107)(65,717)
Interest expense- U.S. Treasury Securities sold short (1,437)(5,551)00NA
Net Interest Income 420,893385,814306,022190,888119,674
Other Income (Loss) 
Realized gain (loss) on sale of Agency Securities (reclassified from Other comprehensive income) (593,498)68,770(11,546)(18,211)(10,723)
Other than temporary impairment of Agency Securities (reclassified from Other comprehensive income) (401,541)00(6,540)(10,410)
Gain (loss) on Credit Risk and Non-Agency Securities NA0059,12046,924
Loss on Interest-Only Securities NA006,431(2,640)
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)47,28423,151
Realized gain (loss) on derivatives (135,908)(118,716)(107,070)(452,398)(1,711)
Unrealized gain (loss) on derivatives 544,643(462,630)(181,662)206,212(4,447)
Subtotal, net of derivatives 408,735(581,346)(288,732)(246,186)(6,158)
Total Other Income (Loss) (570,796)(527,264)(300,278)(198,902)16,993
Management fees 28,14127,85727,29226,07019,790
Professional fees 3,3113,7353,1175,2533,220
Insurance 5437266901,010671
Compensation 3,0472,7962,2912,2601,484
Other 2,1092,4843,5592,9101,361
Total Expenses 37,15137,59836,94937,50326,526
Loss before taxes (187,054)NANANANA
Income tax benefit 10NANANANA
Net Income (Loss) (187,044)(179,048)(31,205)(45,517)110,141
Dividends on preferred stock (14,213)(15,620)(15,622)(15,622)(11,751)
Net Income (Loss) available (related) to common stockholders (201,257)(194,668)(46,827)(61,139)98,390
Net Income (Loss) per share available (related) to common stockholders 
Basic (4.4)(4.32)(1.09)(1.67)2.57
Diluted (4.4)(4.32)(1.09)(1.67)2.57
Dividends declared per common share 6.484.83.893.021.71
Weighted average common shares outstanding 
Basic 45,35444,65442,78036,69838,265
Diluted 45,35444,65442,78036,69838,273
Net Income (Loss) (187,044)(179,048)(31,205)(45,517)110,141
Other comprehensive income (loss) 
Reclassification adjustment for realized (gain) loss on sale of available for sale Agency Securities 593,498(68,770)11,54618,21110,723
Reclassification adjustment for other than temporary impairment of available for sale Agency Securities 401,541006,54010,410
Net unrealized gain (loss) on available for sale Agency Securities (1,416,083)343,604(163,202)13,41733,182
Other comprehensive income (loss) (421,044)274,834(151,656)38,16854,315
Comprehensive Income (608,088)95,786(182,861)(7,349)164,456

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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