Other Liabilities (Tables)

3 Months Ended

Mar. 31, 2017

Other Liabilities [Abstract]

Other Liabilities

The following table presents the components of the Company’s Other liabilities at March 31, 2017 and December 31, 2016:

(In Thousands)	March 31, 2017		December 31, 2016
Accrued interest payable	$	13,648	$	14,129
Swaps, at fair value (1)	—		46,954
Dividends and dividend equivalents payable	74,830		74,657
Accrued expenses and other liabilities	11,103		19,612
Total Other Liabilities	$	99,581	$	155,352

(1) Beginning in January 2017, variation margin payments on the Company’s cleared Swaps are treated as a legal settlement of the exposure under the Swap contract. Previously such payments were treated as collateral pledged against the exposure under the contract. The effect of this change is to reduce what would have otherwise been reported as fair value of the Swap.