Summarized Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Results of Operations (Unaudited)

Summarized Quarterly Results of Operations (Unaudited)

The following is a presentation of selected unaudited results of operations for the quarters ended.

$ in thousands except share amounts	Q4 19		Q3 19		Q2 19		Q1 19		Q4 18		Q3 18		Q2 18		Q1 18
Interest Income
Mortgage-backed and credit risk transfer securities	191,490		194,938		200,737		185,492		174,511		160,416		147,548		149,003
Commercial and other loans	1,291		1,353		1,484		1,582		1,593		1,672		4,051		4,222
Total interest income	192,781		196,291		202,221		187,074		176,104		162,088		151,599		153,225
Interest Expense
Repurchase agreements	97,993		112,851		117,978		101,875		91,057		81,763		69,389		59,585
Secured loans	8,808		10,413		11,258		11,144		10,565		9,490		8,471		6,927
Exchangeable senior notes	—		—		—		—		—		—		—		1,621
Total interest expense	106,801		123,264		129,236		113,019		101,622		91,253		77,860		68,133
Net interest income	85,980		73,027		72,985		74,055		74,482		70,835		73,739		85,092
Other income (loss)
Gain (loss) on investments, net	(148,511	)	202,413		302,182		268,382		76,957		(207,910	)	(36,377	)	(160,370	)
Equity in earnings of unconsolidated ventures	427		403		702		692		624		1,084		798		896
Gain (loss) on derivative instruments, net	188,682		(177,244	)	(344,733	)	(201,460	)	(293,485	)	87,672		67,169		133,367
Realized and unrealized credit derivative income (loss), net	2,896		1		(2,438	)	7,884		(9,026	)	4,975		735		3,165
Net loss on extinguishment of debt	—		—		—		—		—		—		—		(26	)
Other investment income (loss), net	909		1,005		1,007		1,029		850		1,068		(2,160	)	3,102
Total other income (loss)	44,403		26,578		(43,280	)	76,527		(224,080	)	(113,111	)	30,165		(19,866	)
Expenses
Management fee – related party	10,529		8,740		9,370		9,534		10,294		10,105		10,102		10,221
General and administrative	1,882		1,862		1,999		2,258		2,116		1,673		1,525		1,756
Total expenses	12,411		10,602		11,369		11,792		12,410		11,778		11,627		11,977
Net income (loss)	117,972		89,003		18,336		138,790		(162,008	)	(54,054	)	92,277		53,249
Net income (loss) attributable to non-controlling interest	—		—		—		—		(899	)	(681	)	1,163		671
Net income (loss) attributable to Invesco Mortgage Capital Inc.	117,972		89,003		18,336		138,790		(161,109	)	(53,373	)	91,114		52,578
Dividends to preferred stockholders	11,106		11,107		11,106		11,107		11,106		11,107		11,106		11,107
Net income (loss) attributable to common stockholders	106,866		77,896		7,230		127,683		(172,215	)	(64,480	)	80,008		41,471
Earnings (loss) per share:
Net income (loss) attributable to common stockholders
Basic	0.75		0.57		0.06		1.05		(1.54	)	(0.58	)	0.72		0.37
Diluted	0.75		0.57		0.06		1.05		(1.54	)	(0.58	)	0.72		0.37