Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
ASSETS    
Available-for-sale securities, at fair value (amortized cost $15,879,431; allowance for credit losses $25,495) $ 16,574,321 $ 31,406,328
Mortgage servicing rights, at fair value 1,257,503 1,909,444
Cash and cash equivalents 1,615,074 558,136
Restricted cash 596,951 1,058,690
Accrued interest receivable 50,140 92,634
Due from counterparties 118,819 318,963
Derivative assets, at fair value 97,889 188,051
Reverse repurchase agreements 82,410 220,000
Other assets 194,543 169,376
Total Assets [1] 20,587,650 35,921,622
Liabilities    
Repurchase agreements 16,376,696 29,147,463
Federal Home Loan Bank advances 0 210,000
Revolving credit facilities 274,830 300,000
Term notes payable 395,328 394,502
Convertible senior notes 285,843 284,954
Derivative liabilities, at fair value 3,551 6,740
Due to counterparties 109,200 259,447
Dividends payable 57,268 128,125
Accrued interest payable 12,304 149,626
Commitments and Contingencies 0 0
Other liabilities 52,958 70,299
Total Liabilities [1] 17,567,978 30,951,156
Stockholders' Equity    
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized and 40,050,000 and 40,050,000 shares issued and outstanding, respectively ($1,001,250 and $1,001,250 liquidation preference, respectively) 977,501 977,501
Common stock, par value $0.01 per share; 450,000,000 shares authorized and 273,694,411 and 272,935,731 shares issued and outstanding, respectively 2,737 2,729
Additional paid-in capital 5,161,491 5,154,764
Accumulated other comprehensive income 720,340 689,400
Cumulative earnings 814,585 2,655,891
Cumulative distributions to stockholders (4,656,982) (4,509,819)
Total Stockholders’ Equity 3,019,672 4,970,466
Total Liabilities and Stockholders’ Equity $ 20,587,650 $ 35,921,622
[1] The condensed consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs. At September 30, 2020 and December 31, 2019, assets of the VIEs totaled $430,725 and $395,008, and liabilities of the VIEs totaled $430,725 and $395,008, respectively. See Note 3 - Variable Interest Entities for additional information.