Quarterly report pursuant to Section 13 or 15(d)

Offsetting Assets and Liabilities Offsetting Assets and Liabilities (Tables)

v3.19.2
Offsetting Assets and Liabilities Offsetting Assets and Liabilities (Tables)
6 Months Ended
Jun. 30, 2019
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 June 30, 2019 and December 31, 2018:
 
June 30, 2019
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
699,710

 
$
(452,715
)
 
$
246,995

 
$
(255
)
 
$

 
$
246,740

Reverse repurchase agreements
109,500

 

 
109,500

 

 
(109,500
)
 

Total Assets
$
809,210

 
$
(452,715
)
 
$
356,495

 
$
(255
)
 
$
(109,500
)
 
$
246,740

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(28,168,044
)
 
$

 
$
(28,168,044
)
 
$
28,168,044

 
$

 
$

Derivative liabilities
(452,970
)
 
452,715

 
(255
)
 
255

 

 

Total Liabilities
$
(28,621,014
)
 
$
452,715

 
$
(28,168,299
)
 
$
28,168,299

 
$

 
$


 
December 31, 2018
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
599,573

 
$
(279,592
)
 
$
319,981

 
$
(58,775
)
 
$

 
$
261,206

Reverse repurchase agreements
761,815

 

 
761,815

 
(761,815
)
 

 

Total Assets
$
1,361,388

 
$
(279,592
)
 
$
1,081,796

 
$
(820,590
)
 
$

 
$
261,206

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(23,133,476
)
 
$

 
$
(23,133,476
)
 
$
23,133,476

 
$

 
$

Derivative liabilities
(1,100,182
)
 
279,592

 
(820,590
)
 
820,590

 

 

Total Liabilities
$
(24,233,658
)
 
$
279,592

 
$
(23,954,066
)
 
$
23,954,066

 
$

 
$


____________________
(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 June 30, 2019 and December 31, 2018:
 
June 30, 2019
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
699,710

 
$
(452,715
)
 
$
246,995

 
$
(255
)
 
$

 
$
246,740

Reverse repurchase agreements
109,500

 

 
109,500

 

 
(109,500
)
 

Total Assets
$
809,210

 
$
(452,715
)
 
$
356,495

 
$
(255
)
 
$
(109,500
)
 
$
246,740

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(28,168,044
)
 
$

 
$
(28,168,044
)
 
$
28,168,044

 
$

 
$

Derivative liabilities
(452,970
)
 
452,715

 
(255
)
 
255

 

 

Total Liabilities
$
(28,621,014
)
 
$
452,715

 
$
(28,168,299
)
 
$
28,168,299

 
$

 
$


 
December 31, 2018
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
599,573

 
$
(279,592
)
 
$
319,981

 
$
(58,775
)
 
$

 
$
261,206

Reverse repurchase agreements
761,815

 

 
761,815

 
(761,815
)
 

 

Total Assets
$
1,361,388

 
$
(279,592
)
 
$
1,081,796

 
$
(820,590
)
 
$

 
$
261,206

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(23,133,476
)
 
$

 
$
(23,133,476
)
 
$
23,133,476

 
$

 
$

Derivative liabilities
(1,100,182
)
 
279,592

 
(820,590
)
 
820,590

 

 

Total Liabilities
$
(24,233,658
)
 
$
279,592

 
$
(23,954,066
)
 
$
23,954,066

 
$

 
$


____________________
(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.