XML 78 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net income (loss) $ (842,279)us-gaap_ProfitLoss $ 3,729,698us-gaap_ProfitLoss $ 1,735,900us-gaap_ProfitLoss
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Amortization of Investment Securities premiums and discounts, net 664,379us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 973,968us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 1,470,801us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Amortization of commercial real estate investment premiums and discounts, net 616nly_AccretionAmortizationOfDiscountsAndPremiumsCommercialRealEstateInvestments (238)nly_AccretionAmortizationOfDiscountsAndPremiumsCommercialRealEstateInvestments  
Amortization of intangibles 1,390us-gaap_AmortizationOfIntangibleAssets 2,614us-gaap_AmortizationOfIntangibleAssets 4,080us-gaap_AmortizationOfIntangibleAssets
Amortization of deferred financing costs 9,951us-gaap_AmortizationOfFinancingCosts 8,152us-gaap_AmortizationOfFinancingCosts 6,965us-gaap_AmortizationOfFinancingCosts
Amortization of net origination fees and costs, net (4,917)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet    
Amortization of contingent beneficial conversion feature and equity component of Convertible Senior Notes 37,341us-gaap_AmortizationOfDebtDiscountPremium 17,101us-gaap_AmortizationOfDebtDiscountPremium 18,017us-gaap_AmortizationOfDebtDiscountPremium
Depreciation expense 3,205us-gaap_Depreciation    
Net gain on sale of commercial real estate (2,748)us-gaap_GainLossOnSaleOfProperties    
Net (gains) losses on sales of Agency mortgage-backed securities and debentures (94,476)us-gaap_GainLossOnSaleOfInvestments (424,086)us-gaap_GainLossOnSaleOfInvestments (432,139)us-gaap_GainLossOnSaleOfInvestments
Net loss on extinguishment of 4% Convertible Senior Notes     162,340us-gaap_GainsLossesOnExtinguishmentOfDebt
Stock compensation expense 1,072us-gaap_EmployeeBenefitsAndShareBasedCompensation 2,547us-gaap_EmployeeBenefitsAndShareBasedCompensation 5,584us-gaap_EmployeeBenefitsAndShareBasedCompensation
Impairment of goodwill   23,987us-gaap_GoodwillImpairmentLoss  
Loss on previously held equity interest in CreXus   18,896nly_LossOnPreviouslyHeldEquityInterestInAffiliates  
Non-cash component of disposal of subsidiary     (1,177)nly_NoncashComponentOfDisposalOfSubsidiary
Realized loss on disposal of subsidiary   21,041us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal  
Unrealized (gains) losses on interest rate swaps 948,755us-gaap_UnrealizedGainLossOnDerivatives (2,002,200)us-gaap_UnrealizedGainLossOnDerivatives 32,219us-gaap_UnrealizedGainLossOnDerivatives
Net unrealized (gains) losses on interest-only Agency mortgage-backed securities 86,172nly_UnrealizedGainLossOnInterestOnlyMortgageBackedSecuritiesMBS (244,730)nly_UnrealizedGainLossOnInterestOnlyMortgageBackedSecuritiesMBS 59,937nly_UnrealizedGainLossOnInterestOnlyMortgageBackedSecuritiesMBS
Net (gains) losses on trading assets 245,495us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities (1,509)us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities (20,525)us-gaap_NetRealizedOrUnrealizedGainLossOnTradingSecurities
Proceeds from repurchase agreements of RCap 881,680,774nly_ProceedsFromRepurchaseAgreementsFromBrokerDealer 1,453,216,892nly_ProceedsFromRepurchaseAgreementsFromBrokerDealer 733,739,097nly_ProceedsFromRepurchaseAgreementsFromBrokerDealer
Payments on repurchase agreements of RCap (875,782,907)nly_PaymentsOnRepurchaseAgreementsFromBrokerDealer (1,471,279,777)nly_PaymentsOnRepurchaseAgreementsFromBrokerDealer (727,275,192)nly_PaymentsOnRepurchaseAgreementsFromBrokerDealer
Proceeds from reverse repurchase agreements 107,898,578us-gaap_ProceedsFromSecuritiesPurchasedUnderAgreementsToResell 450,898,777us-gaap_ProceedsFromSecuritiesPurchasedUnderAgreementsToResell 402,606,536us-gaap_ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
Payments on reverse repurchase agreements (107,898,578)us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell (449,187,682)us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell (403,556,765)us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell
Proceeds from securities borrowed 23,888,955nly_ProceedsFromSecuritiesBorrowed 263,155,068nly_ProceedsFromSecuritiesBorrowed 74,361,498nly_ProceedsFromSecuritiesBorrowed
Payments on securities borrowed (21,306,062)nly_PaymentsOnSecuritiesBorrowed (263,577,019)nly_PaymentsOnSecuritiesBorrowed (75,593,708)nly_PaymentsOnSecuritiesBorrowed
Proceeds from securities loaned 41,939,298nly_ProceedsFromSecuritiesLoaned 484,836,546nly_ProceedsFromSecuritiesLoaned 185,657,591nly_ProceedsFromSecuritiesLoaned
Payments on securities loaned (44,466,966)nly_PaymentsOnSecuritiesLoaned (484,117,193)nly_PaymentsOnSecuritiesLoaned (184,654,177)nly_PaymentsOnSecuritiesLoaned
Proceeds from U.S. Treasury securities 3,159,253nly_ProceedsFromDebtInvestments 142,054,631nly_ProceedsFromDebtInvestments 64,028,348nly_ProceedsFromDebtInvestments
Payments on U.S. Treasury securities (3,920,425)nly_PaymentsOnDebtInvestments (141,019,615)nly_PaymentsOnDebtInvestments (64,746,420)nly_PaymentsOnDebtInvestments
Net payments on derivatives (134,284)nly_PaymentsForProceedsFromDerivativeInstrumentOperatingActivities (133,023)nly_PaymentsForProceedsFromDerivativeInstrumentOperatingActivities (10,173)nly_PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
Net change in:      
Due to / from brokers 8,596us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet 503us-gaap_IncreaseDecreaseInBrokerDealerRelatedReceivablesPayablesNet  
Other assets (2,657)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 3,897us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (9,243)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accrued interest and dividends receivable (21,376)us-gaap_IncreaseDecreaseInInterestAndDividendsReceivable 141,207us-gaap_IncreaseDecreaseInInterestAndDividendsReceivable (6,151)us-gaap_IncreaseDecreaseInInterestAndDividendsReceivable
Receivable for investment advisory income (3,563)nly_IncreaseDecreaseInAdvisoryAndServiceFeesReceivable 10,891nly_IncreaseDecreaseInAdvisoryAndServiceFeesReceivable 1,820nly_IncreaseDecreaseInAdvisoryAndServiceFeesReceivable
Receivable from prime broker     3,272nly_IncreaseDecreaseInReceivableFromPrimeBroker
Accrued interest payable 34,889us-gaap_IncreaseDecreaseInInterestPayableNet (25,975)us-gaap_IncreaseDecreaseInInterestPayableNet 47,931us-gaap_IncreaseDecreaseInInterestPayableNet
Accounts payable and other liabilities 987us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 3,909us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 3,241us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net cash provided by (used in) operating activities 6,128,468us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (12,892,722)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 7,639,507us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:      
Payments on purchases of Agency mortgage-backed securities and debentures (38,626,689)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (39,071,377)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (86,161,777)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Proceeds from sales of Agency mortgage-backed securities and debentures 22,654,547us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 54,328,560us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 30,542,875us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Principal payments on Agency mortgage-backed securities 8,312,784nly_ProceedsFromPrincipalCollectionOfMortgageBackedSecuritiesCategorizedAsAvailableForSale 21,748,131nly_ProceedsFromPrincipalCollectionOfMortgageBackedSecuritiesCategorizedAsAvailableForSale 35,133,544nly_ProceedsFromPrincipalCollectionOfMortgageBackedSecuritiesCategorizedAsAvailableForSale
Proceeds from Agency debentures called   2,147,205nly_AgencyDebenturesCalled 1,801,283nly_AgencyDebenturesCalled
Payments on purchases of corporate debt (136,953)nly_PaymentsToAcquireCorporateDebt (82,502)nly_PaymentsToAcquireCorporateDebt (81,090)nly_PaymentsToAcquireCorporateDebt
Proceeds from corporate debt called   24,252nly_ProceedsFromCorporateDebtCalled 67,649nly_ProceedsFromCorporateDebtCalled
Principal payments on corporate debt 88,909nly_ProceedsFromPrincipalCollectionOfCorporateDebt 4,716nly_ProceedsFromPrincipalCollectionOfCorporateDebt 4,247nly_ProceedsFromPrincipalCollectionOfCorporateDebt
Acquisition of CreXus   (724,889)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired  
Origination of commercial real estate investments, net (246,833)us-gaap_PaymentsToAcquireCommercialRealEstate (984,743)us-gaap_PaymentsToAcquireCommercialRealEstate  
Proceeds from sales of commercial real estate held for sale 26,019us-gaap_ProceedsFromSaleOfRealEstate 20,192us-gaap_ProceedsFromSaleOfRealEstate  
Principal payments on commercial real estate investments 316,082us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment 114,999us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment  
Purchase of investments in real estate (190,743)us-gaap_PaymentsToAcquireRealEstateHeldForInvestment    
Earn out payment     (13,387)nly_PaymentsOfEarnOutObligations
Proceeds from derivatives   7,465us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities 10,379us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities
Proceeds from sales of equity securities     4,048nly_ProceedsFromSaleOfMarketableSecuritiesEquitySecurities
Payment on disposal of subsidiary   16,209nly_PaymentOnDisposalOfSubsidiary (800)nly_PaymentOnDisposalOfSubsidiary
Net cash provided by (used in) investing activities (7,802,877)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations 37,548,218us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (18,693,029)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:      
Proceeds from repurchase agreements 195,370,377nly_ProceedsFromRepurchaseAgreements 381,641,327nly_ProceedsFromRepurchaseAgreements 352,497,651nly_ProceedsFromRepurchaseAgreements
Principal payments on repurchase agreements (191,687,319)nly_PrincipalPaymentsOnRepurchaseAgreements (404,583,138)nly_PrincipalPaymentsOnRepurchaseAgreements (340,273,744)nly_PrincipalPaymentsOnRepurchaseAgreements
Proceeds from issuance of securitized debt 260,700us-gaap_ProceedsFromSecuredLinesOfCredit    
Payment of deferred financing cost (6,382)us-gaap_PaymentsOfFinancingCosts    
Proceeds from exercise of stock options   2,204us-gaap_ProceedsFromStockOptionsExercised 8,438us-gaap_ProceedsFromStockOptionsExercised
Net proceeds from issuance of 5% Convertible Senior Notes offering     727,500us-gaap_ProceedsFromConvertibleDebt
Net payment on extinguishment of 4% Convertible Senior Notes     (617,476)us-gaap_RepaymentsOfConvertibleDebt
Net proceeds from direct purchases and dividend reinvestments 2,370nly_ProceedsFromDirectPurchaseAndDividendReinvestment 2,855nly_ProceedsFromDirectPurchaseAndDividendReinvestment 2,794nly_ProceedsFromDirectPurchaseAndDividendReinvestment
Net (payments) proceeds from follow-on offerings     (248)nly_NetProceedsFromIssuanceEquitySubsequentOffering
Proceeds from mortgages payable 127,325us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt    
Principal payments on participation sold (309)nly_PaymentsOnStructuredDebtFinancing (200)nly_PaymentsOnStructuredDebtFinancing  
Principal payments on mortgages payable (47)us-gaap_RepaymentsOfOtherLongTermDebt    
Contributions from noncontrolling interests 5,486us-gaap_ProceedsFromMinorityShareholders    
Net payment on share repurchase   (141,149)us-gaap_PaymentsForRepurchaseOfCommonStock (255,901)us-gaap_PaymentsForRepurchaseOfCommonStock
Dividends paid (1,208,984)us-gaap_PaymentsOfDividends (1,640,748)us-gaap_PaymentsOfDividends (2,149,872)us-gaap_PaymentsOfDividends
Net cash provided by (used in) financing activities 2,863,217us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (24,718,849)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 10,675,113us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net (decrease) increase in cash and cash equivalents 1,188,808us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (63,353)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (378,409)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 552,436us-gaap_CashAndCashEquivalentsAtCarryingValue 615,789us-gaap_CashAndCashEquivalentsAtCarryingValue 994,198us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 1,741,244us-gaap_CashAndCashEquivalentsAtCarryingValue 552,436us-gaap_CashAndCashEquivalentsAtCarryingValue 615,789us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:      
Interest received 3,307,238nly_InterestReceived 4,035,661nly_InterestReceived 4,718,524nly_InterestReceived
Dividends received 25,189nly_DividendsReceived 21,624nly_DividendsReceived 29,522nly_DividendsReceived
Investment advisory income received 27,780nly_FeesReceived 54,534nly_FeesReceived 84,483nly_FeesReceived
Interest paid (excluding interest paid on interest rate swaps) 496,033nly_InterestPaidExcludingInterestPaidOnInterestRateSwaps 656,648nly_InterestPaidExcludingInterestPaidOnInterestRateSwaps 595,152nly_InterestPaidExcludingInterestPaidOnInterestRateSwaps
Net interest paid on interest rate swaps 812,108nly_InterestPaidNetInterestRateDerivative 885,234nly_InterestPaidNetInterestRateDerivative 892,656nly_InterestPaidNetInterestRateDerivative
Taxes paid 8,314us-gaap_IncomeTaxesPaidNet 10,447us-gaap_IncomeTaxesPaidNet 52,590us-gaap_IncomeTaxesPaidNet
Noncash investing activities:      
Receivable for investments sold 1,010,094nly_ReceivableForInvestmentSecuritiesSold 1,193,730nly_ReceivableForInvestmentSecuritiesSold 290,722nly_ReceivableForInvestmentSecuritiesSold
Payable for investments purchased 264,984nly_PayableForInvestmentSecuritiesPurchased 764,131nly_PayableForInvestmentSecuritiesPurchased 8,256,957nly_PayableForInvestmentSecuritiesPurchased
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification adjustment 2,953,816nly_NetChangeInUnrealizedGainLossOnAvailableforsaleSecuritiesAndInterestRateSwapsNetOfReclassificationAdjustment (5,802,175)nly_NetChangeInUnrealizedGainLossOnAvailableforsaleSecuritiesAndInterestRateSwapsNetOfReclassificationAdjustment 44,254nly_NetChangeInUnrealizedGainLossOnAvailableforsaleSecuritiesAndInterestRateSwapsNetOfReclassificationAdjustment
Noncash financing activities:      
Dividends declared, not yet paid 284,293us-gaap_DividendsPayableCurrentAndNoncurrent 284,230us-gaap_DividendsPayableCurrentAndNoncurrent 432,154us-gaap_DividendsPayableCurrentAndNoncurrent
Conversion of Series B cumulative preferred stock     32,272us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
Contingent beneficial conversion feature on 4% Convertible Senior Notes 17,308us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature 17,383us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature 61,725us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature
Equity component of 5% Convertible Senior Notes     11,717us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
7.625% Series C Cumulative Redeemable Preferred Stock      
Cash flows from financing activities:      
Net proceeds from Series C Preferred offering     290,514us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
/ us-gaap_StatementClassOfStockAxis
= nly_SeriesC7.625PercentCumulativeRedeemablePreferredStockMember
7.50% Series D Cumulative Redeemable Preferred Stock      
Cash flows from financing activities:      
Net proceeds from Series C Preferred offering     $ 445,457us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
/ us-gaap_StatementClassOfStockAxis
= nly_SeriesD7.50PercentCumulativeRedeemablePreferredStockMember