$AGNC
AGNC Investment Corp.

2023 Q2 Form 10-Q Financial Statement

#000142368923000041 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $835.0M $320.0M -$603.0M
YoY Change -350.0% -153.07% -158.66%
Cost Of Revenue $526.0M $449.0M $27.00M
YoY Change 557.5% 1562.96% -6.9%
Gross Profit $309.0M -$129.0M -$630.0M
YoY Change -174.64% -79.52% -163.06%
Gross Profit Margin 37.01% -40.31%
Selling, General & Admin $14.00M $14.00M $13.00M
YoY Change 16.67% 7.69% -18.75%
% of Gross Profit 4.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $23.00M $22.00M $21.00M
YoY Change 15.0% 4.76% -12.5%
Operating Profit $286.0M -$151.0M -$651.0M
YoY Change -165.9% -76.8% -166.77%
Interest Expense $526.0M $449.0M $27.00M
YoY Change 557.5% 1562.96% -6.9%
% of Operating Profit 183.92%
Other Income/Expense, Net $378.0M -$31.00M -$1.078B
YoY Change -151.85% -97.12% -328.87%
Pretax Income $286.0M -$151.0M -$651.0M
YoY Change -165.9% -76.8% -166.77%
Income Tax
% Of Pretax Income
Net Earnings $255.0M -$151.0M -$651.0M
YoY Change -158.76% -76.8% -166.77%
Net Earnings / Revenue 30.54% -47.19%
Basic Earnings Per Share $0.43 -$0.31 -$1.29
Diluted Earnings Per Share $0.43 -$0.31 -$1.29
COMMON SHARES
Basic Shares Outstanding 595.7M shares 574.7M shares 524.3M shares
Diluted Shares Outstanding 599.7M shares 579.3M shares 524.3M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $716.0M $975.0M $1.004B
YoY Change -20.97% -2.89% 4.26%
Cash & Equivalents $716.0M $975.0M $1.004B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $148.0M $346.0M $2.317B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $864.0M $1.321B $3.321B
YoY Change -70.33% -60.22% 227.84%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $57.28B $61.94B $60.42B
YoY Change 2.8% 2.51% -26.59%
Other Assets $907.0M $1.864B $1.087B
YoY Change -31.96% 71.48% 33.7%
Total Long-Term Assets $59.65B $64.79B $63.07B
YoY Change 2.27% 2.72% -25.39%
TOTAL ASSETS
Total Short-Term Assets $864.0M $1.321B $3.321B
Total Long-Term Assets $59.65B $64.79B $63.07B
Total Assets $60.52B $66.11B $66.39B
YoY Change -1.18% -0.43% -22.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $547.0M $743.0M
YoY Change -26.38% 9.1%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $42.03B $48.38B $44.72B
YoY Change -2.6% 8.21% -18.78%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.03B $49.03B $46.40B
YoY Change -1.25% 5.67% -20.46%
LONG-TERM LIABILITIES
Long-Term Debt $87.00M $92.00M $116.0M
YoY Change -18.69% -20.69% -29.7%
Other Long-Term Liabilities $8.520B $9.195B $10.95B
YoY Change 0.21% -15.99% -30.19%
Total Long-Term Liabilities $8.607B $9.287B $11.06B
YoY Change -0.02% -16.04% -30.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.03B $49.03B $46.40B
Total Long-Term Liabilities $8.607B $9.287B $11.06B
Total Liabilities $52.64B $58.32B $57.46B
YoY Change -1.05% 1.49% -22.54%
SHAREHOLDERS EQUITY
Retained Earnings -$7.633B -$7.674B -$6.078B
YoY Change 13.48% 26.26% 39.79%
Common Stock $6.000M $6.000M $5.000M
YoY Change 20.0% 20.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.878B $7.792B $8.930B
YoY Change
Total Liabilities & Shareholders Equity $60.52B $66.11B $66.39B
YoY Change -1.18% -0.43% -22.39%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $255.0M -$151.0M -$651.0M
YoY Change -158.76% -76.8% -166.77%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$61.00M $26.00M $371.0M
YoY Change -118.94% -92.99% -13.11%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $5.342B -$11.57B $3.081B
YoY Change 231.8% -475.56% -196.4%
Cash From Investing Activities $5.342B -$11.57B $3.081B
YoY Change 231.8% -475.56% -196.43%
FINANCING ACTIVITIES
Cash Dividend Paid $238.0M $213.0M
YoY Change 11.74% -2.74%
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.497B $12.05B -$2.886B
YoY Change 264.18% -517.53% -230.0%
NET CHANGE
Cash From Operating Activities -61.00M $26.00M $371.0M
Cash From Investing Activities 5.342B -$11.57B $3.081B
Cash From Financing Activities -6.497B $12.05B -$2.886B
Net Change In Cash -1.216B $505.0M $566.0M
YoY Change -921.62% -10.78% -203.28%
FREE CASH FLOW
Cash From Operating Activities -$61.00M $26.00M $371.0M
Capital Expenditures
Free Cash Flow
YoY Change

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<div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-top:5pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our accompanying consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X. The accompanying consolidated financial statements and related notes are unaudited and include the accounts of all our wholly-owned subsidiaries and variable interest entities for which we are the primary beneficiary. Significant intercompany accounts and transactions have been eliminated. The accompanying consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements included in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2022. </span></div>The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. In the opinion of management, all adjustments, consisting solely of normal recurring accruals, necessary for the fair presentation of consolidated financial statements for the interim period have been included. The current period’s results of operations are not necessarily indicative of results that ultimately may be achieved for the year.
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390000000 usd
CY2019Q4 agnc Preferred Stock E Liquidation Preference Value
PreferredStockELiquidationPreferenceValue
403000000 usd
CY2020Q1 agnc Preferred Stock F Value Issued
PreferredStockFValueIssued
557000000 usd
CY2020Q1 agnc Preferred Stock G Value Issued
PreferredStockGValueIssued
145000000 usd
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
1634000000 usd
CY2023Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
1688000000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
17100000 shares
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
171000000 usd
CY2023Q1 agnc Stock Issued During Period Price Per Share
StockIssuedDuringPeriodPricePerShare
9.95
CY2023Q1 agnc Commonstock Valueof Shares Remainingfor Future Issuance
CommonstockValueofSharesRemainingforFutureIssuance
500000000 usd
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1000000000 usd

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