Western Asset Mortgage Capital Corp Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018
Net income (loss)
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Premium amortization and (discount accretion), net
Interest income earned added to principal of investments
Amortization of deferred financing costs
Amortization of discount on convertible senior unsecured notes
Restricted stock amortization
Premium amortization for MAC interest rate swaps
Interest payments and basis recovered on MAC interest rate swaps
Premium on purchase of Residential Whole Loans
Premium on purchase of Residential Bridge Loans
Premium on purchase of securitized commercial loans
Financing fee
Unrealized loss, net
Unrealized (gain) loss on derivative instruments, net
Realized (gain) loss on sale of investments, net
(Gain) loss on derivatives, net
Other than temporary impairment
Realized (gain) loss on exchange and extinguishment of convertible senior notes, net
Realized (gain) loss on sale of real estate owned ("REO"), net
Realized (gain) loss on investments, net
Loss on derivatives, net
Loss on foreign currency transactions, net
Changes in operating assets and liabilities:
Interest receivable
Invested related receivable
Other assets
Interest payable
Accounts payable and accrued expenses
Payable to affiliate

Net cash provided by operating activities
Other liabilities
Net cash provided by (used in) operating activities

Cash flows from investing activities:
Purchase of securities
Proceeds from sale of securities
Principal repayments and basis recovered on securities
Proceeds from sale of REO
Purchase of Residential Whole Loans
Proceeds from sale of Residential Whole Loans
Principal repayments on Residential Whole Loans
Purchase of commercial loans
Principal repayments on Commercial Loans
Purchase of securitized commercial loans
Principal repayments on securitized commercial loans
Purchase of Residential Bridge Loans
Principal repayments on Residential Bridge Loans
Payment of premium for option derivatives
Premium received from option derivatives
Premium for credit default swaps, net
Net settlements of TBAs
Premium for MAC interest rate swaps, net
Proceeds from (Payments on) termination of futures, net
Proceeds from sale of interest rate swaptions
Due from counterparties, net
Proceeds from termination of foreign currency swaps
Payments on total return swaps
Interest payments and basis recovered on MAC interest rate swaps
Premium for interest rate swaptions, net
Net cash provided by (used in) investing activities
Net cash (used in) provided by investing activities

Cash flows from financing activities:
Net proceeds from issuance of common stock
Payment of offering costs
Repurchase of common stock
Proceeds from sale of treasury stock
Proceeds from repurchase agreement borrowings
Proceeds from convertible note offering
Payments on extinguishment of convertible senior notes
Proceeds from offering to non-controlling interest, net of offering costs
Repayments of repurchase agreement borrowings
Repayment of cash overdraft
Proceeds from securitized debt
Repayments of securitized debt
Proceeds from forward contracts
Repayments of forward contracts
Financing fee
Payments made for deferred financing costs
Due from counterparties, net
Due to counterparties, net
Increase (decrease) in other liabilities, net
Dividends paid on common stock
Net cash provided by (used in) financing activities
Equity distributions to non-controlling interest
Dividends paid on common stock
Dividends paid to non-controlling interest
Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash and cash equivalents
Net (decrease) increase in cash and cash equivalents
Cash, cash equivalents and restricted cash, beginning of period
Cash, cash equivalents and restricted cash, end of period
Supplemental disclosure of operating cash flow information:
Interest paid
Income taxes paid
Supplemental disclosure of non-cash financing/investing activities:
Underwriting and offering costs payable
Repurchase of common stock, not settled
Net unsettled TBAs
Principal payments of securities, not settled
Securities purchased, not settled
Derivative collateral offset against derivatives
Assets of deconsolidated VIE
Liabilities of deconsolidated VIE
Mortgage-backed securities recorded upon deconsolidation
Assets of consolidated VIE
Liabilities of consolidated VIE
Mortgage-backed securities derecognized upon VIE consolidation
Dividends and distributions declared, not paid
Principal payments of Residential Whole Loans, not settled
Principal payments of Residential Bridge Loans, not settled
Other assets - Transfer of Residential Whole Loans to REO
Other assets - Transfer of Residential Bridge Loans to REO
Other assets - Transfer of Commercial Loans to REO
Other assets - Transfer of REO from non-controlling interest
Proceeds from sale of REO, not settled
Financing fee payable
Exchange of convertible senior notes for commons stock

Reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets:
Cash and cash equivalents
VIE
Total cash and cash equivalents
Restricted cash
VIE
Total restricted cash

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