Consolidated Balance Sheet - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents		$ 123,274	$ 183,909
Restricted cash		655	4,857
Investments, financial derivatives, and repurchase agreements:
Investments, at fair value (Cost – $1,525,710 and $1,672,400)		1,505,026	1,661,118
Financial derivatives–assets, at fair value (Net cost – $40,724 and $163,943)	[1]	35,595	162,905
Repurchase agreements, at fair value (Cost – $185,205 and $105,329)		184,819	105,700
Total investments, financial derivatives, and repurchase agreements		1,725,440	1,929,723
Due from brokers		93,651	141,605
Receivable for securities sold and financial derivatives		445,112	705,748
Interest and principal receivable		21,704	20,444
Other assets		3,359	5,269
Total Assets		2,413,195	2,991,555
Investments and financial derivatives:
Investments sold short, at fair value (Proceeds – $589,429 and $731,048)		584,896	728,747
Financial derivatives–liabilities, at fair value (Net proceeds – $12,012 and $56,200)	[1]	18,687	60,472
Total investments and financial derivatives		603,583	789,219
Reverse repurchase agreements	[1]	1,033,581	1,174,189
Due to brokers		12,780	114,797
Payable for securities purchased and financial derivatives		85,168	165,365
Securitized debt (Proceeds – $24,086 and $0)		24,086	0
Accounts payable and accrued expenses		3,327	3,626
Base management fee payable		2,416	2,773
Interest and dividends payable		3,460	1,806
Other liabilities		17	828
Total Liabilities		1,768,418	2,252,603
Total Equity		644,777	738,952
TOTAL LIABILITIES AND EQUITY		2,413,195	2,991,555
Commitments and contingencies (Note 15)
ANALYSIS OF EQUITY:
Common shares, no par value, 100,000,000 shares authorized; (32,294,703 and 33,126,012 shares issued and outstanding)		627,620	722,360
Additional paid-in capital – LTIP Units		10,041	9,689
Total Shareholders' Equity		637,661	732,049
Non-controlling interests		7,116	6,903
Total Equity		$ 644,777	$ 738,952
PER SHARE INFORMATION:
Common shares (in usd per share)	[2]	$ 19.75	$ 22.10

[1] In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.

[2] If all LTIP Units and OP Units previously issued were vested and exchanged for common shares as of December 31, 2016, 2015, and 2014, shareholders' equity per share would be $19.46, $21.80, and $23.09, respectively.