2012 Q2 Form 10-Q Financial Statement

#000142368912000031 Filed on May 10, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2011 Q1
Revenue -$108.0M $777.0M $180.2M
YoY Change -141.76% 331.19% 149.93%
Cost Of Revenue $148.0M $128.0M $44.10M
YoY Change 94.23% 190.25% 154.91%
Gross Profit -$256.0M $649.0M $136.1M
YoY Change -240.35% 376.86% 148.36%
Gross Profit Margin 83.53% 75.53%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $36.00M $28.00M $11.00M
YoY Change 111.76% 154.55% 217.46%
Operating Profit -$292.0M $621.0M $125.1M
YoY Change -276.54% 396.4% 143.69%
Interest Expense $120.0M $106.0M $36.00M
YoY Change 84.62% 194.44% 132.11%
% of Operating Profit 17.07% 28.78%
Other Income/Expense, Net
YoY Change
Pretax Income -$264.0M $643.0M $134.0M
YoY Change -249.15% 379.85% 152.12%
Income Tax -$3.000M $2.000M $0.00
% Of Pretax Income 0.31% 0.0%
Net Earnings -$261.0M $641.0M $134.0M
YoY Change -247.46% 378.36% 152.12%
Net Earnings / Revenue 82.5% 74.36%
Basic Earnings Per Share
Diluted Earnings Per Share -$867.1K $2.664M $1.478M
COMMON SHARES
Basic Shares Outstanding 300.0M shares 224.1M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q2 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.099B $1.762B $301.0M
YoY Change 235.3% 485.38% 186.67%
Cash & Equivalents $2.099B $1.762B $301.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $2.877B $1.706B $298.0M
Other Receivables $0.00 $0.00 $43.00M
Total Short-Term Assets $4.976B $3.468B $642.0M
YoY Change 160.93% 440.19% 30.22%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $79.20B $84.18B $28.19B
YoY Change 91.69% 198.6% 438.03%
Other Assets $302.0M $315.0M $75.00M
YoY Change 59.79% 320.0% 177.78%
Total Long-Term Assets $79.81B $84.95B $28.51B
YoY Change 91.24% 197.93% 440.33%
TOTAL ASSETS
Total Short-Term Assets $4.976B $3.468B $642.0M
Total Long-Term Assets $79.81B $84.95B $28.51B
Total Assets $84.78B $88.42B $29.16B
YoY Change 94.29% 203.27% 405.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.00M $52.00M $16.00M
YoY Change 88.89% 225.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $70.49B $69.87B $22.06B
YoY Change 110.01% 216.68% 374.35%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $73.13B $75.06B $25.72B
YoY Change 97.05% 191.84% 401.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.519B $4.643B $93.00M
YoY Change 43.94% 4892.47% 210.0%
Total Long-Term Liabilities $2.519B $4.643B $93.00M
YoY Change 43.94% 4892.47% 210.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.13B $75.06B $25.72B
Total Long-Term Liabilities $2.519B $4.643B $93.00M
Total Liabilities $75.65B $79.70B $25.81B
YoY Change 94.66% 208.79% 400.48%
SHAREHOLDERS EQUITY
Retained Earnings -$328.0M $317.0M
YoY Change
Common Stock $3.000M $3.000M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.136B $8.718B $3.345B
YoY Change
Total Liabilities & Shareholders Equity $84.78B $88.42B $29.16B
YoY Change 94.29% 203.27% 405.29%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income -$261.0M $641.0M $134.0M
YoY Change -247.46% 378.36% 152.12%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $614.0M $472.0M $128.0M
YoY Change 161.28% 268.75% 252.62%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$933.0M -$24.10B -$11.97B
YoY Change -92.62% 101.31% 1141.55%
Cash From Investing Activities -$933.0M -$24.10B -$11.97B
YoY Change -92.62% 101.31% 1141.55%
FINANCING ACTIVITIES
Cash Dividend Paid $314.0M $91.00M
YoY Change 245.05%
Common Stock Issuance & Retirement, Net $2.063B $719.0M
YoY Change 186.93%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 656.0M $24.02B $11.97B
YoY Change -94.85% 100.67% 1341.59%
NET CHANGE
Cash From Operating Activities 614.0M $472.0M $128.0M
Cash From Investing Activities -933.0M -$24.10B -$11.97B
Cash From Financing Activities 656.0M $24.02B $11.97B
Net Change In Cash 337.0M $395.0M $128.0M
YoY Change 3.69% 208.59% -231.28%
FREE CASH FLOW
Cash From Operating Activities $614.0M $472.0M $128.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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SaleOfStockPricePerShare
29.00
CY2012Q1 us-gaap Secured Debt
SecuredDebt
50000000 USD
CY2011Q4 us-gaap Secured Debt
SecuredDebt
54000000 USD
CY2011Q4 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
58000000 USD
CY2012Q1 us-gaap Securities Held As Collateral At Fair Value
SecuritiesHeldAsCollateralAtFairValue
53000000 USD
CY2012Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
69816000000 USD
CY2011Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
47681000000 USD
CY2012Q1 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0037
CY2011Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0040
CY2012Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
71000000 shares
CY2012Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2205000000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
6212000000 USD
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
8718000000 USD
CY2012Q1 agnc Additions Of Interest Rate Cash Flow Hedge Derivatives
AdditionsOfInterestRateCashFlowHedgeDerivatives
8500000000 USD
CY2012Q4 agnc Agency Securities Amortized Cost
AgencySecuritiesAmortizedCost
79687000000 USD
CY2011Q4 agnc Agency Securities Amortized Cost
AgencySecuritiesAmortizedCost
53694000000 USD
CY2012Q4 agnc Agency Securities Gross Unrealized Gain
AgencySecuritiesGrossUnrealizedGain
1042000000 USD
CY2011Q4 agnc Agency Securities Gross Unrealized Gain
AgencySecuritiesGrossUnrealizedGain
1016000000 USD
CY2010Q4 agnc Agency Securities Pledged As Collateral Accrued Interest
AgencySecuritiesPledgedAsCollateralAccruedInterest
161000000 USD
CY2012Q4 agnc Agency Securities Pledged As Collateral Accrued Interest
AgencySecuritiesPledgedAsCollateralAccruedInterest
224000000 USD
CY2012Q4 agnc Agency Securities Pledged As Collateral Amortized Cost
AgencySecuritiesPledgedAsCollateralAmortizedCost
72320000000 USD
CY2010Q4 agnc Agency Securities Pledged As Collateral Amortized Cost
AgencySecuritiesPledgedAsCollateralAmortizedCost
49443000000 USD
CY2010Q4 agnc Agency Securities Pledged As Collateral Amortized Cost Under Repurchase Agreements
AgencySecuritiesPledgedAsCollateralAmortizedCostUnderRepurchaseAgreements
50414000000 USD
CY2012Q4 agnc Agency Securities Pledged As Collateral Amortized Cost Under Repurchase Agreements
AgencySecuritiesPledgedAsCollateralAmortizedCostUnderRepurchaseAgreements
73203000000 USD
CY2012Q4 agnc Agency Securities Pledged As Collateral Gross Unrealized Loss
AgencySecuritiesPledgedAsCollateralGrossUnrealizedLoss
159000000 USD
CY2011Q4 agnc Agency Securities Pledged As Collateral Gross Unrealized Loss
AgencySecuritiesPledgedAsCollateralGrossUnrealizedLoss
27000000 USD
CY2012Q1 agnc Available For Sale Securities Pledged As Collateral Accrued Interest
AvailableForSaleSecuritiesPledgedAsCollateralAccruedInterest
227000000 USD
CY2011Q4 agnc Available For Sale Securities Weighted Average Life Coupon Rate
AvailableForSaleSecuritiesWeightedAverageLifeCouponRate
0.0411
CY2012Q1 agnc Available For Sale Securities Weighted Average Life Coupon Rate
AvailableForSaleSecuritiesWeightedAverageLifeCouponRate
0.0392
CY2011 agnc Average Margin Agency Securities
AverageMarginAgencySecurities
0.0177
CY2012Q1 agnc Average Margin Agency Securities
AverageMarginAgencySecurities
0.0176
CY2011 agnc Average Reset Rate For Adjustable Rate Securities
AverageResetRateForAdjustableRateSecurities
0.0271
CY2012Q1 agnc Average Reset Rate For Adjustable Rate Securities
AverageResetRateForAdjustableRateSecurities
0.0269
CY2011 agnc Average Underlying Index Rate On Agency Securities Based On Current Spot Rate
AverageUnderlyingIndexRateOnAgencySecuritiesBasedOnCurrentSpotRate
0.0094
CY2012Q1 agnc Average Underlying Index Rate On Agency Securities Based On Current Spot Rate
AverageUnderlyingIndexRateOnAgencySecuritiesBasedOnCurrentSpotRate
0.0093
CY2012 agnc Cmo And Interest Only Pricincipal Only Securities Maximum Loss Exposure
CmoAndInterestOnlyPricincipalOnlySecuritiesMaximumLossExposure
143000000 USD
CY2012Q1 agnc Cmo And Interest Only Pricincipal Only Securities Maximum Loss Exposure
CmoAndInterestOnlyPricincipalOnlySecuritiesMaximumLossExposure
155000000 USD
CY2012Q4 agnc Collateralized Agency Securities Sold But Not Settled
CollateralizedAgencySecuritiesSoldButNotSettled
1400000000 USD
CY2010Q4 agnc Collateralized Agency Securities Sold But Not Settled
CollateralizedAgencySecuritiesSoldButNotSettled
319000000 USD
CY2012Q1 agnc Comprehensive Income Per Share Basic And Diluted
ComprehensiveIncomePerShareBasicAndDiluted
2.44
CY2011Q1 agnc Comprehensive Income Per Share Basic And Diluted
ComprehensiveIncomePerShareBasicAndDiluted
1.71
CY2012Q1 agnc Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net De Designated Interest Rate Swaps
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOciIntoIncomeEffectivePortionNetDeDesignatedInterestRateSwaps
-52000000 USD
CY2011Q1 agnc Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net De Designated Interest Rate Swaps
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOciIntoIncomeEffectivePortionNetDeDesignatedInterestRateSwaps
0 USD
CY2012Q1 agnc Excise And Reit Income Tax
ExciseAndReitIncomeTax
2000000 USD
CY2011Q1 agnc Excise And Reit Income Tax
ExciseAndReitIncomeTax
0 USD
CY2011Q4 agnc Fair Value Of Cmo Securities Directly Held
FairValueOfCmoSecuritiesDirectlyHeld
426000000 USD
CY2012Q1 agnc Fair Value Of Cmo Securities Directly Held
FairValueOfCmoSecuritiesDirectlyHeld
395000000 USD
CY2012Q1 agnc Future Prepayment Rate Assumption Of Investment Portfolio
FuturePrepaymentRateAssumptionOfInvestmentPortfolio
0.14
CY2012Q1 agnc Future Prepayment Rate Assumption Of Investment Portfolio
FuturePrepaymentRateAssumptionOfInvestmentPortfolio
0.09
CY2011Q1 agnc Gain On Interest Only Securities Remeasured At Fair Value Through Earnings
GainOnInterestOnlySecuritiesRemeasuredAtFairValueThroughEarnings
3000000 USD
CY2012Q1 agnc Loss On Derivative Instruments And Trading Securities Net
LossOnDerivativeInstrumentsAndTradingSecuritiesNet
-47000000 USD
CY2011Q1 agnc Loss On Derivative Instruments And Trading Securities Net
LossOnDerivativeInstrumentsAndTradingSecuritiesNet
-12000000 USD
CY2012Q1 agnc Loss On Interest Only Securities Remeasured At Fair Value Through Earnings
LossOnInterestOnlySecuritiesRemeasuredAtFairValueThroughEarnings
1000000 USD
CY2012Q1 agnc Management Fees
ManagementFees
22000000 USD
CY2011Q1 agnc Management Fees
ManagementFees
8000000 USD
CY2012Q1 agnc Obligation To Return Securities Borrowed Under Reverse Repurchase Agreements At Fair Value
ObligationToReturnSecuritiesBorrowedUnderReverseRepurchaseAgreementsAtFairValue
3816000000 USD
CY2011Q4 agnc Obligation To Return Securities Borrowed Under Reverse Repurchase Agreements At Fair Value
ObligationToReturnSecuritiesBorrowedUnderReverseRepurchaseAgreementsAtFairValue
899000000 USD
CY2011 agnc Prepayment Rate Of Remaining Life Of Investment Portfolio
PrepaymentRateOfRemainingLifeOfInvestmentPortfolio
0.14
CY2012Q1 agnc Principal Balance Of Securities Held As Collateral
PrincipalBalanceOfSecuritiesHeldAsCollateral
50000000 USD
CY2011Q4 agnc Principal Balance Of Securities Held As Collateral
PrincipalBalanceOfSecuritiesHeldAsCollateral
55000000 USD
CY2012Q1 agnc Proceed From Issuance Of Common Stock Net Of Issuance Costs
ProceedFromIssuanceOfCommonStockNetOfIssuanceCosts
2100000000 USD
CY2011Q1 agnc Proceeds From Principal Collection Of Mortgage Backed Securities Categorized As Available For Sale
ProceedsFromPrincipalCollectionOfMortgageBackedSecuritiesCategorizedAsAvailableForSale
795000000 USD
CY2012Q1 agnc Proceeds From Principal Collection Of Mortgage Backed Securities Categorized As Available For Sale
ProceedsFromPrincipalCollectionOfMortgageBackedSecuritiesCategorizedAsAvailableForSale
1895000000 USD
CY2011Q1 agnc Proceeds From Us Treasury Securities Sold Not Yet Purchased
ProceedsFromUSTreasurySecuritiesSoldNotYetPurchased
3200000000 USD
CY2012Q1 agnc Proceeds From Us Treasury Securities Sold Not Yet Purchased
ProceedsFromUSTreasurySecuritiesSoldNotYetPurchased
11000000000 USD
CY2011Q4 agnc Receivable Under Reverse Repurchase Agreements
ReceivableUnderReverseRepurchaseAgreements
763000000 USD
CY2012Q1 agnc Receivable Under Reverse Repurchase Agreements
ReceivableUnderReverseRepurchaseAgreements
3613000000 USD
CY2011Q4 agnc Repurchase Agreements Weighted Average Days To Maturity
RepurchaseAgreementsWeightedAverageDaysToMaturity
51
CY2012Q1 agnc Repurchase Agreements Weighted Average Days To Maturity
RepurchaseAgreementsWeightedAverageDaysToMaturity
60
CY2012Q1 agnc Required Annual Distribution Of Taxable Net Income
RequiredAnnualDistributionOfTaxableNetIncome
0.90
CY2012Q1 agnc Restricted Cash Pledged As Collateral
RestrictedCashPledgedAsCollateral
292000000 USD
CY2012Q1 agnc Risk Of Repurchase Agreement To Stockholders Equity
RiskOfRepurchaseAgreementToStockholdersEquity
0.04
CY2011Q4 agnc Securitized Cmo Securities
SecuritizedCmoSecurities
430000000 USD
CY2012Q1 agnc Securitized Cmo Securities
SecuritizedCmoSecurities
398000000 USD
CY2012Q1 agnc Spread Over Libor
SpreadOverLibor
25
CY2012Q1 agnc Terminations Of Interest Rate Cash Flow Hedge Derivatives
TerminationsOfInterestRateCashFlowHedgeDerivatives
0 USD
CY2012Q4 agnc Total Agency Securities
TotalAgencySecurities
80570000000 USD
CY2012Q1 agnc Total Agency Securities
TotalAgencySecurities
80570000000 USD
CY2011Q4 agnc Total Agency Securities
TotalAgencySecurities
54683000000 USD
CY2012Q1 agnc Total Fair Value Of Agency Securities Pledged And Accrued Interest
TotalFairValueOfAgencySecuritiesPledgedAndAccruedInterest
74266000000 USD
CY2012Q1 agnc Transfers Between Hierarchy Levels
TransfersBetweenHierarchyLevels
0
CY2012 agnc Transfers Between Hierarchy Levels
TransfersBetweenHierarchyLevels
0
CY2011 agnc Unamortized Principal Balance Of Interest Only Strips
UnamortizedPrincipalBalanceOfInterestOnlyStrips
1100000000 USD
CY2012Q1 agnc Unamortized Principal Balance Of Interest Only Strips
UnamortizedPrincipalBalanceOfInterestOnlyStrips
1000000000 USD
CY2012Q1 agnc Unamortized Principal Balance Of Principal Only Strips
UnamortizedPrincipalBalanceOfPrincipalOnlyStrips
37000000 USD
CY2011 agnc Unamortized Principal Balance Of Principal Only Strips
UnamortizedPrincipalBalanceOfPrincipalOnlyStrips
40000000 USD
CY2012Q1 agnc Unrealized Gain Loss On Derivative Instrument And Trading Securities
UnrealizedGainLossOnDerivativeInstrumentAndTradingSecurities
47000000 USD
CY2011Q1 agnc Unrealized Gain Loss On Derivative Instrument And Trading Securities
UnrealizedGainLossOnDerivativeInstrumentAndTradingSecurities
12000000 USD
CY2011Q1 agnc Unrealized Gain On Derivative Instrument And Trading Securities
UnrealizedGainOnDerivativeInstrumentAndTradingSecurities
3000000 USD
CY2012Q1 agnc Unrealized Gain On Derivative Instrument And Trading Securities
UnrealizedGainOnDerivativeInstrumentAndTradingSecurities
1000000 USD
CY2012Q1 agnc Weighted Average Contractual Interest Rate Of Interest Only Strips
WeightedAverageContractualInterestRateOfInterestOnlyStrips
0.0556
CY2012Q1 agnc Weighted Average Coupon Rate
WeightedAverageCouponRate
0.0399
CY2011Q4 agnc Weighted Average Coupon Rate
WeightedAverageCouponRate
0.0423
CY2011 agnc Weighted Average Life Of Interest Only Securities
WeightedAverageLifeOfInterestOnlySecurities
2.3
CY2012Q1 agnc Weighted Average Life Of Interest Only Securities
WeightedAverageLifeOfInterestOnlySecurities
4.2 years
CY2012Q1 agnc Weighted Average Life Of Principal Only Securities
WeightedAverageLifeOfPrincipalOnlySecurities
4.1 years
CY2011 agnc Weighted Average Life Of Principal Only Securities
WeightedAverageLifeOfPrincipalOnlySecurities
2.3 years
CY2012Q1 agnc Weighted Average Number Of Common Shares Outstanding Basic And Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
241000000 shares
CY2011Q1 agnc Weighted Average Number Of Common Shares Outstanding Basic And Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
90000000 shares
CY2012Q1 agnc Weighted Average Yield Percentage
WeightedAverageYieldPercentage
0.0306
CY2011Q4 agnc Weighted Average Yield Percentage
WeightedAverageYieldPercentage
0.0307
CY2012Q1 agnc Weighted Average Yield Percentage For Period
WeightedAverageYieldPercentageForPeriod
0.0332
CY2011 agnc Weighted Average Yield Percentage For Period
WeightedAverageYieldPercentageForPeriod
0.0319
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2012Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001423689
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
299992970 shares
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
American Capital Agency Corp
CY2012Q1 dei Trading Symbol
TradingSymbol
AGNC
CY2012Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
-7266000000 USD
CY2011Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
-103000000 USD

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