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Offsetting Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2014
Offsetting [Abstract]  
Offsetting of Derivative Assets
Offsetting of Derivative Assets
As of December 31, 2013
 
 
 
 
 
 
 
Gross Amounts Not Offset in the
Consolidated Balance Sheets
 
 
$ in thousands
Description
Gross
Amounts of
Recognized
Assets
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheets
 
Net Amounts
of Assets
presented in
the
Consolidated
Balance Sheets
 
Financial
Instruments (1)
 
Cash
Collateral
Received
 
Net Amount
Derivatives
262,059

 
—

 
262,059

 
(671
)
 
(48,607
)
 
212,781

Total
262,059

 
—

 
262,059

 
(671
)
 
(48,607
)
 
212,781

The following tables present information about certain assets and liabilities that are subject to master netting agreements (or similar agreements) and can potentially be offset on the Company’s consolidated balance sheets at June 30, 2014 and December 31, 2013.
Offsetting of Derivative Assets
As of June 30, 2014
 
 
 
 
 
 
 
Gross Amounts Not Offset in the
Consolidated Balance Sheets
 
 
$ in thousands
Description
Gross
Amounts of
Recognized
Assets
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheets
 
Net Amounts
of Assets
presented in
the
Consolidated
Balance Sheets
 
Financial
Instruments (1)
 
Cash
Collateral
Received
 
Net Amount
Derivatives
70,190

 
—

 
70,190

 
(6,577
)
 
(11,976
)
 
51,637

Total
70,190

 
—

 
70,190

 
(6,577
)
 
(11,976
)
 
51,637
Offsetting of Derivative Liabilities and Repurchase Agreements
Offsetting of Derivative Liabilities, Repurchase Agreements and Secured Loans
As of June 30, 2014
 
 
 
 
 
 
 
Gross Amounts Not Offset in the
Consolidated Balance Sheets
 
 
$ in thousands
Description
Gross
Amounts of
Recognized
Liabilities
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheets
 
Net Amounts
of Assets
presented in
the
Consolidated
Balance Sheets
 
Financial
Instruments (2)(3)(5)
 
Cash
Collateral
Posted (2)(4)(5)
 
Net Amount
Derivatives
268,600

 
—

 
268,600

 
(268,600
)
 
—

 
—

Repurchase Agreements
14,723,223

 
—

 
14,723,223

 
(14,723,223
)
 
—

 
—

Secured Loans
625,000

 
 
 
625,000

 
(625,000
)
 
—

 
—

 
15,616,823

 
—

 
15,616,823

 
(15,616,823
)
 
—

 
—

Offsetting of Derivative Liabilities and Repurchase Agreements
As of December 31, 2013
 
 
 
 
 
 
 
 
Gross Amounts Not Offset in the
Consolidated Balance Sheets
 
 
$ in thousands
Description
Gross
Amounts of
Recognized
Liabilities
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheets
 
Net Amounts
of Assets
presented in
the
Consolidated
Balance Sheets
 
Financial
Instruments (2)(3)
 
Cash
Collateral
Posted (2)(4)
 
Net Amount
Derivatives
263,204

 
—

 
263,204

 
(263,204
)
 
—

 
—

Repurchase Agreements
15,451,675

 
—

 
15,451,675

 
(15,451,675
)
 
—

 
—

 
15,714,879

 
—

 
15,714,879

 
(15,714,879
)
 
—

 
—


(1)
Amounts represent interest rate derivatives in an asset position which could potentially be offset against interest rate derivatives in a liability position at June 30, 2014 and December 31, 2013, subject to a netting arrangement.
(2)
Amounts represent collateral pledged that is available to be offset against liability balances associated with repurchase agreements, secured loans and interest rate derivatives.
(3)
The fair value of securities pledged against the Company's borrowing under repurchase agreements was $16.5 billion and $17.1 billion at June 30, 2014 and December 31, 2013, respectively, including securities held as collateral that are eliminated in consolidation of $268.8 million and $133.8 million, respectively at June 30, 2014 and December 31, 2013.
(4)
Total cash received on the Company's derivatives was $14.2 million and $52.7 million at June 30, 2014 and December 31, 2013, respectively. Total non-cash collateral received on the Company's derivatives was $62.4 million and $207.0 million at June 30, 2014 and December 31, 2013, respectively. Total cash posted by the Company on its Derivatives was $30.4 million and $1.5 million at June 30, 2014 and December 31, 2013, respectively.
(5)
The fair value of securities pledged against IAS Services LLC's borrowing under secured loans was $854.4 million and $0 at June 30, 2014 and December 31, 2013, respectively.