Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Significant Accounting Policies Offsetting Assets and Liabilities (Tables)

v3.10.0.1
Basis of Presentation and Significant Accounting Policies Offsetting Assets and Liabilities (Tables)
9 Months Ended
Sep. 30, 2018
Offsetting [Abstract]  
Offsetting Assets The following tables present information about the Company’s assets and liabilities that are subject to master netting arrangements or similar agreements and can potentially be offset on the Company’s condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
864,680

 
$
(461,449
)
 
$
403,231

 
$
(44,643
)
 
$

 
$
358,588

Reverse repurchase agreements
759,375

 

 
759,375

 
(752,861
)
 

 
6,514

Total Assets
$
1,624,055

 
$
(461,449
)
 
$
1,162,606

 
$
(797,504
)
 
$

 
$
365,102

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(23,806,631
)
 
$

 
$
(23,806,631
)
 
$
23,806,631

 
$

 
$

Derivative liabilities
(1,258,953
)
 
461,449

 
(797,504
)
 
797,504

 

 

Total Liabilities
$
(25,065,584
)
 
$
461,449

 
$
(24,604,135
)
 
$
24,604,135

 
$

 
$

 
December 31, 2017
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
340,576

 
$
(30,658
)
 
$
309,918

 
$
(31,903
)
 
$

 
$
278,015

Total Assets
$
340,576

 
$
(30,658
)
 
$
309,918

 
$
(31,903
)
 
$

 
$
278,015

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(19,451,207
)
 
$

 
$
(19,451,207
)
 
$
19,451,207

 
$

 
$

Derivative liabilities
(62,561
)
 
30,658

 
(31,903
)
 
31,903

 

 

Total Liabilities
$
(19,513,768
)
 
$
30,658

 
$
(19,483,110
)
 
$
19,483,110

 
$

 
$

____________________
(1)
Amounts presented are limited in total to the net amount of assets or liabilities presented in the condensed consolidated balance sheets by instrument. Excess cash collateral or financial assets that are pledged to counterparties may exceed the financial liabilities subject to a master netting arrangement or similar agreement, or counterparties may have pledged excess cash collateral to the Company that exceed the corresponding financial assets. These excess amounts are excluded from the table above, although separately reported within restricted cash, due from counterparties, or due to counterparties in the Company’s condensed consolidated balance sheets.
Offsetting Liabilities The following tables present information about the Company’s assets and liabilities that are subject to master netting arrangements or similar agreements and can potentially be offset on the Company’s condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
864,680

 
$
(461,449
)
 
$
403,231

 
$
(44,643
)
 
$

 
$
358,588

Reverse repurchase agreements
759,375

 

 
759,375

 
(752,861
)
 

 
6,514

Total Assets
$
1,624,055

 
$
(461,449
)
 
$
1,162,606

 
$
(797,504
)
 
$

 
$
365,102

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(23,806,631
)
 
$

 
$
(23,806,631
)
 
$
23,806,631

 
$

 
$

Derivative liabilities
(1,258,953
)
 
461,449

 
(797,504
)
 
797,504

 

 

Total Liabilities
$
(25,065,584
)
 
$
461,449

 
$
(24,604,135
)
 
$
24,604,135

 
$

 
$

 
December 31, 2017
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
340,576

 
$
(30,658
)
 
$
309,918

 
$
(31,903
)
 
$

 
$
278,015

Total Assets
$
340,576

 
$
(30,658
)
 
$
309,918

 
$
(31,903
)
 
$

 
$
278,015

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(19,451,207
)
 
$

 
$
(19,451,207
)
 
$
19,451,207

 
$

 
$

Derivative liabilities
(62,561
)
 
30,658

 
(31,903
)
 
31,903

 

 

Total Liabilities
$
(19,513,768
)
 
$
30,658

 
$
(19,483,110
)
 
$
19,483,110

 
$

 
$

____________________
(1)
Amounts presented are limited in total to the net amount of assets or liabilities presented in the condensed consolidated balance sheets by instrument. Excess cash collateral or financial assets that are pledged to counterparties may exceed the financial liabilities subject to a master netting arrangement or similar agreement, or counterparties may have pledged excess cash collateral to the Company that exceed the corresponding financial assets. These excess amounts are excluded from the table above, although separately reported within restricted cash, due from counterparties, or due to counterparties in the Company’s condensed consolidated balance sheets.