XML 67 R11.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statement Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS:    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 36,568 $ 57,190 [1]
Reconciliation of the net increase in equity resulting from operations to net cash provided by (used in) operating activities:    
Net realized (gain) loss on investments, financial derivatives, and foreign currency transactions (19,884) (8,115)
Change in net unrealized (gain) loss on investments and financial derivatives, and foreign currency translation 34,466 (10,678)
Amortization of premiums and accretion of discounts (net) 7,786 (6,036)
Purchase of investments (2,824,104) (2,899,745)
Proceeds from disposition of investments 2,878,023 2,118,261
Proceeds from principal payments of investments 220,875 135,376
Proceeds from investments sold short 1,581,247 1,429,501
Repurchase of investments sold short (1,897,897) (1,087,703)
Payments made to open financial derivatives (202,294) (18,692)
Proceeds received to close financial derivatives 255,353 41,677
Proceeds received to open financial derivatives 75,376 43,471
Payments made to close financial derivatives (124,332) (65,865)
Shares issued in connection with incentive fee payment 0 309
Share-based LTIP expense 294 191 [1]
(Increase) decrease in assets:    
Repurchase agreements 62,410 (19,077)
Receivable for securities sold and financial derivatives 328,486 (363,200)
Due from brokers (16,101) (58,926)
Interest and principal receivable (5,183) (4,122)
Restricted cash (5,580) 0
Other assets (753) (1,182)
Increase (decrease) in liabilities:    
Due to brokers (19,393) (7,752)
Payable for securities purchased and financial derivatives 22,898 383,408
Accounts payable and accrued expenses 26 440
Incentive fee payable 0 (1,691)
Other liabilities 1,297 0
Interest and dividends payable (201) 617
Base management fee payable (114) 692
Net cash provided by operating activities 389,269 (341,651)
Cash flows provided by (used in) financing activities:    
Proceeds from the issuance of shares 0 188,400
Contributions from non-controlling interests 1,430 1,524
Shares repurchased (623) 0
Offering costs paid (56) (151)
Dividends paid (66,462) (60,210)
Distributions to non-controlling Interest (1,410) (1,099)
Principal payments on securitized debt (254) (144)
Borrowings under Reverse Repurchase Agreements 7,188,017 3,587,485 [2]
Repayments of reverse repurchase agreements (7,484,656) (3,428,519) [2]
Net cash provided by (used in) financing activities (364,014) 287,286
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 25,255 (54,365)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 114,140 183,489
CASH AND CASH EQUIVALENTS, END OF PERIOD 139,395 129,124
Supplemental disclosure of cash flow information:    
Interest paid 8,573 7,110
Shares issued in connection with incentive fee payment (non-cash) 0 309
Share-based LTIP awards (non-cash) 294 191 [1]
Aggregate TBA trade activity (buys sells) (non-cash) $ 27,491,213 $ 20,616,947
[1] Conformed to current period presentation.
[2] Conformed to current period presentation.