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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Net income $ 78,071 $ 78,726 $ 160,244 $ 154,914
Other Comprehensive (Loss)/Income:        
Reclassification adjustment for MBS sales included in net income (7,863) (6,748) (14,429) (9,699)
Reclassification adjustment for other-than-temporary impairments included in net income (298) 0 (705) 0
Unrealized gain/(loss) on derivative hedging instruments, net 26,858 (27,634) (5,509) (39,901)
Reclassification of unrealized loss on de-designated derivative hedging instruments 0 0 0 447
Cumulative effect adjustment on adoption of revised accounting standard for repurchase agreement financing 0 0 4,537 0
Other Comprehensive (Loss)/Income (64,248) 58,848 (59,873) 113,338
Comprehensive income before preferred stock dividends 13,823 137,574 100,371 268,252
Dividends declared on preferred stock (3,750) (3,750) (7,500) (7,500)
Comprehensive Income Available to Common Stock and Participating Securities 10,073 133,824 92,871 260,752
Agency Mortgage Backed Securities        
Other Comprehensive (Loss)/Income:        
Unrealized (loss)/gain on MBS securities, net (25,250) 43,094 (12,365) 60,937
Non-Agency MBS        
Other Comprehensive (Loss)/Income:        
Unrealized (loss)/gain on MBS securities, net $ (57,695) $ 50,136 $ (31,402) $ 101,554