XML 63 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statement Of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 44,042 $ 52,451
Reconciliation of the net increase in equity resulting from operations to net cash provided by (used in) operating activities:    
Change in net unrealized (gain) loss on investments and financial derivatives, and foreign currency translation (1,867) (11,450)
Net realized (gain) loss on investments, financial derivatives, and foreign currency transactions (15,037) (18,264)
Amortization of premiums and accretion of discounts (net) (5,597) (10,204)
Purchase of investments (1,055,747) (1,026,018)
Proceeds from disposition of investments 1,025,495 602,098
Proceeds from principal payments of investments 73,060 97,641
Proceeds from investments sold short 874,768 631,565
Repurchase of investments sold short (903,707) (624,288)
Payments made to open financial derivatives (15,491) (4,974)
Proceeds received to close financial derivatives 26,994 23,201
Proceeds received to open financial derivatives 24,640 11,815
Payments made to close financial derivatives (40,172) (14,934)
Shares issued in connection with incentive fee payment 309 941
Share-based LTIP expense 127 85
(Increase) decrease in assets:    
Increase in repurchase agreements (2,575) (27,538)
(Increase) decrease in receivable for securities sold 69,839 (45,116)
Increase in due from brokers (27,292) (25,550)
Increase in interest and principal receivable (787) (852)
(Increase) decrease in other assets 11 (674)
Increase (decrease) in liabilities:    
Increase (decrease) in due to brokers 7,717 (609)
Increase (decrease) in payable for securities purchased (28,255) 78,751
Increase (decrease) in accounts payable and accrued expenses 272 (159)
Decrease in incentive fee payable (3,091) (6,161)
Increase (decrease) in other payables 0 (592)
Increase in interest and dividends payable 755 948
Increase in base management fee payable 4 471
Net cash provided by (used in) operating activities 48,415 (317,416)
Cash flows provided by (used in) financing activities:    
Proceeds from the issuance of shares 0 125,600
Contribution from non-controlling interest 1,201 4,664
Offering costs paid (47) (253)
Dividends paid (40,140) (51,976)
Distributions to non-controlling Interest (465) 0
Principal payments on securitized debt (86) (182)
Reverse repurchase agreements, net of repayments (47,335) 382,274
Net cash provided by (used in) financing activities (86,872) 460,127
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (38,457) 142,711
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 183,489 59,084
CASH AND CASH EQUIVALENTS, END OF PERIOD 145,032 201,795
Supplemental disclosure of cash flow information:    
Interest paid 4,876 4,007
Shares issued in connection with incentive fee payment (non-cash) 309 941
Share-based LTIP awards (non-cash) 127 85
Aggregate TBA trade activity (buys sells) (non-cash) $ 13,395,312 $ 10,009,367