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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
Total
Series B Preferred Stock
Series C Preferred Stock
Preferred Stock
Series B Preferred Stock
Preferred Stock
Series C Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Deficit
Series B Preferred Stock
Accumulated Deficit
Series C Preferred Stock
Accumulated Other Comprehensive Income
Balance (in shares) at Dec. 31, 2021       8,000 11,000 108,138          
Beginning balance at Dec. 31, 2021 $ 2,542,848     $ 80 $ 110 $ 1,082 $ 3,775,482 $ (1,279,484)     $ 45,578
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) (82,906)             (82,906)      
Issuance of stock, net of expenses (in shares)           150          
Issuance of common stock, net of expenses 486         $ 1 485        
Repurchase of shares of common stock (in shares) [1]           (3,252)          
Repurchase of shares of common stock [1] (55,742)         $ (33) (55,709)        
Equity based compensation expense 2,642           2,642        
Change in accrued dividends attributable to stock-based awards (76)           74 (150)      
Dividends declared on common stock (46,215)             (46,215)      
Dividends declared on preferred stock   $ (3,750) $ (4,469)           $ (3,750) $ (4,469)  
Dividends attributable to dividend equivalents (141)             (141)      
Change in unrealized gains on securities, net (4,977)                   (4,977)
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 1,255                   1,255
Balance (in shares) at Mar. 31, 2022       8,000 11,000 105,036          
Ending balance at Mar. 31, 2022 2,348,955     $ 80 $ 110 $ 1,050 3,722,974 (1,417,115)     41,856
Balance (in shares) at Dec. 31, 2021       8,000 11,000 108,138          
Beginning balance at Dec. 31, 2021 2,542,848     $ 80 $ 110 $ 1,082 3,775,482 (1,279,484)     45,578
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) (183,273)                    
Dividends declared on preferred stock (16,438)                    
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 1,255                    
Balance (in shares) at Jun. 30, 2022       8,000 11,000 101,793          
Ending balance at Jun. 30, 2022 2,146,388     $ 80 $ 110 $ 1,018 3,679,078 (1,570,817)     36,919
Balance (in shares) at Mar. 31, 2022       8,000 11,000 105,036          
Beginning balance at Mar. 31, 2022 2,348,955     $ 80 $ 110 $ 1,050 3,722,974 (1,417,115)     41,856
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) (100,367)             (100,367)      
Issuance of stock, net of expenses (in shares)           38          
Issuance of common stock, net of expenses 553         $ 1 552        
Repurchase of shares of common stock (in shares) [1]           (3,281)          
Repurchase of shares of common stock [1] (47,512)         $ (33) (47,479)        
Equity based compensation expense 3,540           3,540        
Change in accrued dividends attributable to stock-based awards (662)           (509) (153)      
Dividends declared on common stock (44,789)             (44,789)      
Dividends declared on preferred stock (8,219) (3,750) (4,469)           (3,750) (4,469)  
Dividends attributable to dividend equivalents (174)             (174)      
Change in unrealized gains on securities, net (4,937)                   (4,937)
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 0                    
Balance (in shares) at Jun. 30, 2022       8,000 11,000 101,793          
Ending balance at Jun. 30, 2022 2,146,388     $ 80 $ 110 $ 1,018 3,679,078 (1,570,817)     36,919
Balance (in shares) at Dec. 31, 2022       8,000 11,000 101,802          
Beginning balance at Dec. 31, 2022 1,988,849     $ 80 $ 110 $ 1,018 3,684,291 (1,717,991)     21,341
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) 72,784             72,784      
Issuance of stock, net of expenses (in shares)           168          
Issuance of common stock, net of expenses 18         $ 1 17        
Repurchase of shares of common stock (in shares) [2]           (58)          
Repurchase of shares of common stock [2] (599)         $ 0 (599)        
Equity based compensation expense 3,019           3,019        
Change in accrued dividends attributable to stock-based awards (375)           557 (932)      
Dividends declared on common stock (35,669)             (35,669)      
Dividends declared on preferred stock   (3,750) (4,469)           (3,750) (4,469)  
Dividends attributable to dividend equivalents (86)             (86)      
Change in unrealized gains on securities, net (1,116)                   (1,116)
Balance (in shares) at Mar. 31, 2023       8,000 11,000 101,912          
Ending balance at Mar. 31, 2023 2,018,606     $ 80 $ 110 $ 1,019 3,687,285 (1,690,113)     20,225
Balance (in shares) at Dec. 31, 2022       8,000 11,000 101,802          
Beginning balance at Dec. 31, 2022 1,988,849     $ 80 $ 110 $ 1,018 3,684,291 (1,717,991)     21,341
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) 46,856                    
Dividends declared on preferred stock (16,437)                    
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 0                    
Balance (in shares) at Jun. 30, 2023       8,000 11,000 101,916          
Ending balance at Jun. 30, 2023 1,944,769     $ 80 $ 110 $ 1,019 3,691,233 (1,761,093)     13,420
Balance (in shares) at Mar. 31, 2023       8,000 11,000 101,912          
Beginning balance at Mar. 31, 2023 2,018,606     $ 80 $ 110 $ 1,019 3,687,285 (1,690,113)     20,225
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) (25,928)             (25,928)      
Issuance of stock, net of expenses (in shares)           4          
Issuance of common stock, net of expenses 16         $ 0 16        
Repurchase of shares of common stock (in shares) [2]           0          
Repurchase of shares of common stock [2] 0         $ 0 0        
Equity based compensation expense 3,932           3,932        
Change in accrued dividends attributable to stock-based awards (1,044)           0 (1,044)      
Dividends declared on common stock (35,671)             (35,671)      
Dividends declared on preferred stock (8,218) $ (3,750) $ (4,469)           $ (3,750) $ (4,469)  
Dividends attributable to dividend equivalents (118)             (118)      
Change in unrealized gains on securities, net (6,805)                   (6,805)
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 0                    
Balance (in shares) at Jun. 30, 2023       8,000 11,000 101,916          
Ending balance at Jun. 30, 2023 $ 1,944,769     $ 80 $ 110 $ 1,019 $ 3,691,233 $ (1,761,093)     $ 13,420
[1] For the six months ended June 30, 2022 includes approximately $1.0 million (56,690 shares) surrendered for tax purposes related to equity-based compensation awards.
[2] For the six months ended June 30, 2023 includes approximately $600,000 (58,505 shares) surrendered for tax purposes related to equity-based compensation awards.