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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
Total
Series C Preferred Stock
Series B Preferred Stock
Preferred Stock
Series C Preferred Stock
Preferred Stock
Series B Preferred Stock
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Series C Preferred Stock
Accumulated Deficit
Accumulated Deficit
Series C Preferred Stock
Accumulated Deficit
Series B Preferred Stock
Accumulated Other Comprehensive Income
Revision of Prior Period, Accounting Standards Update, Adjustment
Revision of Prior Period, Accounting Standards Update, Adjustment
Accumulated Deficit
Balance (in shares) at Dec. 31, 2019       0 8,000 452,369                
Balance at Dec. 31, 2019 $ 3,383,952     $ 0 $ 80 $ 4,524 $ 3,640,341   $ (631,040)     $ 370,047 $ (8,326) $ (8,326)
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) (908,995)               (908,995)          
Issuance of stock, net of expenses (in shares)       11,000   1,106                
Issuance of stock, net of expenses 687 $ 266,029   $ 110   $ 7 680 $ 265,919            
Repurchase of shares of common stock (in shares) [1]           (337)                
Repurchase of shares of common stock [1] (2,652)           (2,652)              
Equity based compensation expense 1,266           1,266              
Change in accrued dividends attributable to stock-based awards 1,059           1,059              
Change in unrealized gains on securities, net (243,812)                     (243,812)    
Derivative hedging instrument fair value changes and amortization, net (48,533)                     (48,533)    
Balance (in shares) at Mar. 31, 2020       11,000 8,000 453,138                
Balance at Mar. 31, 2020 2,440,675     $ 110 $ 80 $ 4,531 3,906,613   (1,548,361)     77,702    
Balance (in shares) at Dec. 31, 2019       0 8,000 452,369                
Balance at Dec. 31, 2019 3,383,952     $ 0 $ 80 $ 4,524 3,640,341   (631,040)     370,047 $ (8,326) $ (8,326)
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) (725,207)                          
Dividends declared on preferred stock (21,578)                          
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk (22,652)                          
Balance (in shares) at Sep. 30, 2020       11,000 8,000 453,333                
Balance at Sep. 30, 2020 2,565,656     $ 110 $ 80 $ 4,533 3,924,584   (1,408,910)     45,259    
Balance (in shares) at Mar. 31, 2020       11,000 8,000 453,138                
Balance at Mar. 31, 2020 2,440,675     $ 110 $ 80 $ 4,531 3,906,613   (1,548,361)     77,702    
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) 96,578               96,578          
Issuance of stock, net of expenses (in shares)           106                
Issuance of stock, net of expenses 37         $ 1 36              
Equity based compensation expense 1,709           1,709              
Change in unrealized gains on securities, net (96,021)                     (96,021)    
Derivative hedging instrument fair value changes and amortization, net 64,032                     64,032    
Warrants Issued 14,041           14,041              
Balance (in shares) at Jun. 30, 2020       11,000 8,000 453,244                
Balance at Jun. 30, 2020 2,521,051     $ 110 $ 80 $ 4,532 3,922,399   (1,451,783)     45,713    
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) 87,210               87,210          
Issuance of stock, net of expenses (in shares)           89                
Issuance of stock, net of expenses 1         $ 1 0              
Equity based compensation expense 2,266           2,266              
Change in accrued dividends attributable to stock-based awards (81)           (81)              
Dividends declared on common stock (22,667)               (22,667)          
Dividends declared on preferred stock (8,219) (10,328) [2] $ (11,250) [2]             $ (10,328) [2] $ (11,250) [2]      
Dividends attributable to dividend equivalents (92)               (92)          
Change in unrealized gains on securities, net 15,022                     15,022    
Derivative hedging instrument fair value changes and amortization, net 7,176                     7,176    
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk (22,652)                     (22,652)    
Balance (in shares) at Sep. 30, 2020       11,000 8,000 453,333                
Balance at Sep. 30, 2020 2,565,656     $ 110 $ 80 $ 4,533 3,924,584   (1,408,910)     45,259    
Balance (in shares) at Dec. 31, 2020       11,000 8,000 451,714                
Balance at Dec. 31, 2020 2,524,802     $ 110 $ 80 $ 4,517 3,848,129   (1,405,327)     77,293    
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) 85,522               85,522          
Issuance of stock, net of expenses (in shares)           559                
Issuance of stock, net of expenses 382         $ 6 376              
Repurchase of shares of common stock (in shares) [3]           (6,159)                
Repurchase of shares of common stock [3] (25,136)         $ (62) (25,074)              
Equity based compensation expense 1,686           1,686              
Change in accrued dividends attributable to stock-based awards 489           489              
Dividends declared on common stock (33,521)               (33,521)          
Dividends declared on preferred stock   (4,468) (3,750)             (4,468) (3,750)      
Dividends attributable to dividend equivalents (120)               (120)          
Change in unrealized gains on securities, net (3,855)                     (3,855)    
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 235                     235    
Balance (in shares) at Mar. 31, 2021       11,000 8,000 446,114                
Balance at Mar. 31, 2021 2,542,266     $ 110 $ 80 $ 4,461 3,825,606   (1,361,664)     73,673    
Balance (in shares) at Dec. 31, 2020       11,000 8,000 451,714                
Balance at Dec. 31, 2020 2,524,802     $ 110 $ 80 $ 4,517 3,848,129   (1,405,327)     77,293    
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) 284,747                          
Dividends declared on preferred stock (24,656)                          
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 935                          
Balance (in shares) at Sep. 30, 2021       11,000 8,000 440,927                
Balance at Sep. 30, 2021 2,601,087     $ 110 $ 80 $ 4,409 3,807,237   (1,267,504)     56,755    
Balance (in shares) at Mar. 31, 2021       11,000 8,000 446,114                
Balance at Mar. 31, 2021 2,542,266     $ 110 $ 80 $ 4,461 3,825,606   (1,361,664)     73,673    
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) 66,714               66,714          
Issuance of stock, net of expenses (in shares)           358                
Issuance of stock, net of expenses 398         $ 4 394              
Repurchase of shares of common stock (in shares) [3]           (5,660)                
Repurchase of shares of common stock [3] (23,741)         $ (57) (23,684)              
Equity based compensation expense 2,741           2,741              
Change in accrued dividends attributable to stock-based awards (288)           (227)   (61)          
Dividends declared on common stock (44,081)               (44,081)          
Dividends declared on preferred stock   (4,469) (3,750)             (4,469) (3,750)      
Dividends attributable to dividend equivalents (155)               (155)          
Change in unrealized gains on securities, net (9,589)                     (9,589)    
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 491                     491    
Balance (in shares) at Jun. 30, 2021       11,000 8,000 440,812                
Balance at Jun. 30, 2021 2,526,537     $ 110 $ 80 $ 4,408 3,804,830   (1,347,466)     64,575    
Increase (Decrease) in Stockholders' Equity                            
Net income/(loss) 132,511               132,511          
Issuance of stock, net of expenses (in shares)           115                
Issuance of stock, net of expenses 525         $ 1 524              
Equity based compensation expense 2,306           2,306              
Change in accrued dividends attributable to stock-based awards (505)           (423)   (82)          
Dividends declared on common stock (44,093)               (44,093)          
Dividends declared on preferred stock (8,218) $ (4,469) $ (3,750)             $ (4,469) $ (3,750)      
Dividends attributable to dividend equivalents (155)               (155)          
Change in unrealized gains on securities, net (8,029)                     (8,029)    
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 209                     209    
Balance (in shares) at Sep. 30, 2021       11,000 8,000 440,927                
Balance at Sep. 30, 2021 $ 2,601,087     $ 110 $ 80 $ 4,409 $ 3,807,237   $ (1,267,504)     $ 56,755    
[1] For the nine months ended September 30, 2020, includes approximately $2.7 million (337,026 shares) surrendered for tax purposes related to equity-based compensation awards.
[2] Includes reinstated dividends that were unpaid through June 30, 2020, and were paid during the three months ended September 30, 2020.
[3] For the nine months ended September 30, 2021 includes approximately $799,000 (213,123 shares) surrendered for tax purposes related to equity-based compensation awards.