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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income $ 43,748 $ 25,922 $ 83,706 $ 51,112
Interest expense 30,813 14,175 57,089 25,770
Net interest income 12,935 11,747 26,617 25,342
(Loss) gain on derivative instruments, net 117,535 (20,667) 179,233 (59,021)
Loss on sale of investments, net (10,360) (12,444) (10,360) (16,219)
Fair value adjustments, net (16) 27 (29) 56
Other operating income (expense), net 256 (339) 25 (592)
General and administrative expenses:        
Compensation and benefits (1,747) (1,751) (3,645) (3,713)
Other general and administrative (2,518) (2,255) (4,574) (3,936)
Net (loss) income (118,985) 15,652 (171,199) 59,959
Preferred stock dividends (3,206) (2,942) (6,265) (5,882)
Net (loss) income to common shareholders (122,191) 12,710 (177,464) 54,077
Other comprehensive income:        
Unrealized gain (loss) on available-for-sale investments, net 100,767 (22,156) 187,399 (71,345)
Reclassification adjustment for loss on sale of investments, net 10,360 12,444 10,360 16,219
Reclassification adjustment for de-designated cash flow hedges 0 (48) (165) (96)
Total other comprehensive income (loss) 111,127 (9,760) 197,594 (55,222)
Comprehensive (loss) income to common shareholders $ (11,064) $ 2,950 $ 20,130 $ (1,145)
Net (loss) income per common share-basic and diluted $ (4.98) $ 0.68 $ (7.49) $ 2.89
Weighted average common shares-basic and diluted 24,541 18,765 23,681 18,695