2021 Q4 Form 10-Q Financial Statement

#000142368921000070 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $8.000M $248.0M $745.0M
YoY Change -99.06% -66.71% 30.24%
Cost Of Revenue $15.00M $14.00M $62.00M
YoY Change -71.15% -77.42% -88.87%
Gross Profit -$7.000M $234.0M $683.0M
YoY Change -100.88% -65.74% 4453.33%
Gross Profit Margin -87.5% 94.35% 91.68%
Selling, General & Admin $12.00M $14.00M $13.00M
YoY Change -29.41% 7.69% 30.0%
% of Gross Profit 5.98% 1.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $20.00M $22.00M $21.00M
YoY Change -20.0% 4.76% 10.53%
Operating Profit -$27.00M $212.0M $662.0M
YoY Change -103.48% -67.98% -16650.0%
Interest Expense $14.00M $62.00M
YoY Change -77.42% -88.87%
% of Operating Profit 6.6% 9.37%
Other Income/Expense, Net -$45.00M $381.0M
YoY Change -111.81%
Pretax Income -$27.00M $212.0M $662.0M
YoY Change -103.48% -67.98% -16650.0%
Income Tax
% Of Pretax Income
Net Earnings -$27.00M $212.0M $662.0M
YoY Change -120.93% -67.98% -16650.0%
Net Earnings / Revenue -337.5% 85.48% 88.86%
Basic Earnings Per Share $0.36 $1.15
Diluted Earnings Per Share -$51.39K $0.35 $1.15
COMMON SHARES
Basic Shares Outstanding 524.9M shares 526.7M shares 553.2M shares
Diluted Shares Outstanding 528.6M shares 554.3M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $998.0M $981.0M $857.0M
YoY Change -1.87% 14.47% -5.41%
Cash & Equivalents $998.0M $981.0M $857.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $272.0M $10.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $998.0M $1.253B $867.0M
YoY Change -18.66% 44.52% -14.24%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $526.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $65.37B $65.66B $76.67B
YoY Change -16.37% -14.37% -28.34%
Other Assets $527.0M $464.0M $1.557B
YoY Change -59.68% -70.2% 112.13%
Total Long-Term Assets $67.15B $67.55B $79.10B
YoY Change -16.68% -14.6% -27.26%
TOTAL ASSETS
Total Short-Term Assets $998.0M $1.253B $867.0M
Total Long-Term Assets $67.15B $67.55B $79.10B
Total Assets $68.15B $68.81B $79.97B
YoY Change -16.71% -13.96% -27.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0M $477.0M $128.0M
YoY Change 82.65% 272.66% -65.22%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $47.38B $46.53B $54.57B
YoY Change -9.52% -14.72% -38.05%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.95B $48.92B $60.67B
YoY Change -18.5% -19.37% -33.8%
LONG-TERM LIABILITIES
Long-Term Debt $126.0M $134.0M $192.0M
YoY Change -28.81% -30.21% -93.05%
Other Long-Term Liabilities $9.783B $9.074B $8.385B
YoY Change -16.59% 8.22% 63.26%
Total Long-Term Liabilities $9.909B $9.208B $8.577B
YoY Change -16.77% 7.36% 8.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.95B $48.92B $60.67B
Total Long-Term Liabilities $9.909B $9.208B $8.577B
Total Liabilities $57.86B $58.13B $69.25B
YoY Change -18.21% -16.06% -30.44%
SHAREHOLDERS EQUITY
Retained Earnings -$5.214B -$4.973B -$5.661B
YoY Change 2.12% -12.15% 26.56%
Common Stock $5.000M $5.000M $5.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.29B $10.68B $10.72B
YoY Change
Total Liabilities & Shareholders Equity $68.15B $68.81B $79.97B
YoY Change -16.71% -13.96% -27.14%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$27.00M $212.0M $662.0M
YoY Change -120.93% -67.98% -16650.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $376.0M $393.0M $561.0M
YoY Change -8.29% -29.95% 130.86%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$879.0M $1.914B $15.19B
YoY Change -143.36% -87.4% -460.36%
Cash From Investing Activities -$879.0M $1.914B $15.19B
YoY Change -143.36% -87.4% -460.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 583.0M -2.432B -15.50B
YoY Change -123.07% -84.31% -492.13%
NET CHANGE
Cash From Operating Activities 376.0M 393.0M 561.0M
Cash From Investing Activities -879.0M 1.914B 15.19B
Cash From Financing Activities 583.0M -2.432B -15.50B
Net Change In Cash 80.00M -125.0M 249.0M
YoY Change -188.89% -150.2% -1410.53%
FREE CASH FLOW
Cash From Operating Activities $376.0M $393.0M $561.0M
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Common Stock Dividends Per Share Declared
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70000000 USD
CY2020Q3 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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CY2020Q3 us-gaap Stock Repurchased During Period Value
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CY2020Q3 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q3 us-gaap Net Income Loss
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6000000 USD
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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CY2021Q3 us-gaap Stockholders Equity
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CY2019Q4 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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us-gaap Net Income Loss
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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us-gaap Stock Issued During Period Value New Issues
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us-gaap Stock Repurchased During Period Value
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us-gaap Dividends Preferred Stock Cash
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us-gaap Dividends Common Stock Cash
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CY2020Q3 us-gaap Stockholders Equity
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CY2020Q4 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
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us-gaap Stock Repurchased During Period Shares
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us-gaap Stock Repurchased During Period Value
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us-gaap Dividends Preferred Stock Cash
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us-gaap Net Income Loss
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
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us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
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agnc Netunrealizedgainlossoninvestmentsecuritiesmeasuredatfairvaluethroughnetincome
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agnc Loss On Derivative Instruments And Trading Securities Net
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agnc Loss On Derivative Instruments And Trading Securities Net
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
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us-gaap Payments To Acquire Mortgage Backed Securities Mbs Categorized As Available For Sale
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agnc Payments To Acquire Non Agency Mortgage Backed Securities
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us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
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agnc Proceeds From Principal Collection Of Mortgage Backed Securities Categorized As Available For Sale
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agnc Proceeds From Principal Collection Of Mortgage Backed Securities Categorized As Available For Sale
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agnc Payments To Acquire Us Treasury Securities
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agnc Payments To Acquire Us Treasury Securities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Short Term Debt
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us-gaap Repayments Of Other Debt
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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agnc Intended Annual Distributionof Taxable Net Income
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agnc Future Prepayment Rate Assumption Of Investment Portfolio
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CY2020Q4 us-gaap Trading Securities Debt
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agnc Future Prepayment Rate Assumption Of Investment Portfolio
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CY2020 agnc Future Prepayment Rate Assumption Of Investment Portfolio
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CY2021Q3 agnc Available For Sale Securities Weighted Average Life Fair Value
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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agnc Proceeds From Sale Of Debt Securities
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us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
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us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
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CY2021Q3 us-gaap Securities Sold Under Agreements To Repurchase
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agnc Repurchase Agreements Extinguished Extinguishment Of Debt
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agnc Weighted Average Interest Rate Of Repurchase Agreements Extinguished Extinguished Debt
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agnc Weighted Average Remaining Maturity Of Repurchase Agreements Extinguished Extinguished Debt
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P2Y2M12D
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CY2021Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
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CY2021Q3 us-gaap Financial Instruments Sold Not Yet Purchased Us Government And Agency Obligations
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CY2021Q3 agnc Interest Rate Swaps Linkedto Secured Overnight Financing Rate
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CY2020Q4 agnc Interest Rate Swaps Linkedto Secured Overnight Financing Rate
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CY2021Q3 agnc Interest Rate Swaps Linkedto Overnight Index Swap Rate
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CY2020Q4 agnc Interest Rate Swaps Linkedto Overnight Index Swap Rate
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CY2020Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
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us-gaap Gains Losses On Extinguishment Of Debt
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CY2021Q3 agnc Risk Of Repurchase Agreement To Stockholders Equity
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CY2021Q3 agnc Total Fair Valueof Securities Pledgedand Accrued Interest
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CY2020Q4 agnc Available For Sale Securities Pledged As Collateral Accrued Interest
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CY2020Q4 agnc Total Fair Value Of Agency Securities Pledged And Accrued Interest
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CY2021Q3 agnc Retained Interestsin Consolidated Vi Es Pledgedas Collateral Under Repurchase Agreements
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89000000 USD
CY2020Q4 agnc Retained Interestsin Consolidated Vi Es Pledgedas Collateral Under Repurchase Agreements
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CY2021Q3 us-gaap Security Owned And Pledged As Collateral Fair Value
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CY2020Q4 us-gaap Security Owned And Pledged As Collateral Fair Value
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CY2020Q4 agnc Agency Securities Pledged As Collateral Amortized Cost
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CY2020Q4 agnc Agency Securities Pledged As Collateral Accrued Interest
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CY2021Q3 agnc Retained Interestsin Consolidated Vi Es Pledgedas Collateral Under Repurchase Agreements
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89000000 USD
CY2020Q4 agnc Retained Interestsin Consolidated Vi Es Pledgedas Collateral Under Repurchase Agreements
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119000000 USD
CY2021Q3 agnc Gross Amountsof Cash Collateral Not Offsetonthe Balance Sheet
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CY2021Q3 us-gaap Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities At Fair Value
FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue
53517000000 USD
CY2020Q4 us-gaap Financial Instruments Owned Mortgages Mortgage Backed And Asset Backed Securities At Fair Value
FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue
64836000000 USD
CY2021Q3 agnc Agencysecuritiestransferredtoconsolidatedvariableinterestentitiesatfairvalue
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CY2020Q4 agnc Agencysecuritiestransferredtoconsolidatedvariableinterestentitiesatfairvalue
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CY2021Q3 us-gaap Financial Instruments Owned Other At Fair Value
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CY2020Q4 us-gaap Financial Instruments Owned Other At Fair Value
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CY2021Q3 agnc Non Agency Securitiesat Fair Value
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578000000 USD
CY2020Q4 agnc Non Agency Securitiesat Fair Value
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546000000 USD
CY2021Q3 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
645000000 USD
CY2020Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
0 USD
CY2021Q3 us-gaap Other Long Term Debt
OtherLongTermDebt
134000000 USD
CY2020Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
177000000 USD
CY2021Q3 agnc Obligation To Return Securities Borrowed Under Reverse Repurchase Agreements At Fair Value
ObligationToReturnSecuritiesBorrowedUnderReverseRepurchaseAgreementsAtFairValue
8896000000 USD
CY2020Q4 agnc Obligation To Return Securities Borrowed Under Reverse Repurchase Agreements At Fair Value
ObligationToReturnSecuritiesBorrowedUnderReverseRepurchaseAgreementsAtFairValue
11727000000 USD
CY2021Q3 agnc Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
524900000 shares
CY2020Q3 agnc Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
552100000 shares
agnc Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
527400000 shares
agnc Weighted Average Numberof Shares Outstanding
WeightedAverageNumberofSharesOutstanding
552900000 shares
CY2021Q3 agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
1800000 shares
CY2020Q3 agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
1100000 shares
agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
1600000 shares
agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
900000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
526700000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
553200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
529000000.0 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
553800000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1900000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1100000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1800000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
528600000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
554300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
530800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
553800000 shares
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
187000000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
637000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
701000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1112000000 USD
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.01
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.15
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.01
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1000000 shares
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q3 agnc Preferred Stock C Value Issued
PreferredStockCValueIssued
315000000 USD
CY2021Q3 agnc Preferred Stock C Liquidation Preference Value
PreferredStockCLiquidationPreferenceValue
325000000 USD
CY2021Q3 agnc Preferred Stock D Value Issued
PreferredStockDValueIssued
227000000 USD
CY2021Q3 agnc Preferred Stock D Liquidation Preference Value
PreferredStockDLiquidationPreferenceValue
235000000 USD
CY2019Q4 agnc Preferred Stock E Value Issued
PreferredStockEValueIssued
390000000 USD
CY2019Q4 agnc Preferred Stock E Liquidation Preference Value
PreferredStockELiquidationPreferenceValue
403000000 USD
CY2020Q1 agnc Preferred Stock F Value Issued
PreferredStockFValueIssued
557000000 USD
CY2021Q3 us-gaap Preferred Stock Value
PreferredStockValue
1489000000 USD
CY2021Q3 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
1538000000 USD
CY2021Q3 agnc Commonstock Valueof Shares Remainingfor Future Issuance
CommonstockValueofSharesRemainingforFutureIssuance
1250000000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
15000000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
239000000 USD
agnc Stock Repurchased During Period Average Repurchase Priceindollarspershare
StockRepurchasedDuringPeriodAverageRepurchasePriceindollarspershare
16.00 USD
CY2021Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
684000000 USD

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