$AGNC
AGNC Investment Corp.

2024 Q3 Form 10-Q Financial Statement

#000142368924000058 Filed on August 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.196B $674.0M
YoY Change 331.77% -19.28%
Cost Of Revenue $820.0M $698.0M
YoY Change 26.93% 32.7%
Gross Profit $376.0M -$24.00M
YoY Change -201.9% -107.77%
Gross Profit Margin 31.44% -3.56%
Selling, General & Admin $21.00M $15.00M
YoY Change 50.0% 7.14%
% of Gross Profit 5.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $30.00M $24.00M
YoY Change 30.43% 4.35%
Operating Profit $346.0M -$48.00M
YoY Change -188.27% -116.78%
Interest Expense $820.0M $698.0M
YoY Change 26.93% 32.7%
% of Operating Profit 236.99%
Other Income/Expense, Net $440.0M -$21.00M
YoY Change -239.24% -105.56%
Pretax Income $346.0M -$48.00M
YoY Change -188.27% -116.78%
Income Tax
% Of Pretax Income
Net Earnings $346.0M -$80.00M
YoY Change -188.27% -131.37%
Net Earnings / Revenue 28.93% -11.87%
Basic Earnings Per Share $0.39 -$0.11
Diluted Earnings Per Share $0.39 -$0.11
COMMON SHARES
Basic Shares Outstanding 782.5M shares 726.9M shares
Diluted Shares Outstanding 810.1M shares 740.0M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $507.0M $530.0M
YoY Change 2.84% -25.98%
Cash & Equivalents $507.0M $530.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.706B
Other Receivables $0.00
Total Short-Term Assets $2.213B $530.0M
YoY Change 175.25% -38.66%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $85.06B $76.80B
YoY Change 28.66% 34.07%
Other Assets $1.279B $1.376B
YoY Change -7.92% 51.71%
Total Long-Term Assets $87.38B $79.16B
YoY Change 26.29% 32.69%
TOTAL ASSETS
Total Short-Term Assets $2.213B $530.0M
Total Long-Term Assets $87.38B $79.16B
Total Assets $89.59B $79.69B
YoY Change 28.0% 31.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $370.0M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $78.99B $70.20B
YoY Change 51.59% 67.02%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $79.45B $70.90B
YoY Change 50.13% 61.01%
LONG-TERM LIABILITIES
Long-Term Debt $69.00M $71.00M
YoY Change -13.75% -18.39%
Other Long-Term Liabilities $419.0M $64.00M
YoY Change -95.61% -99.25%
Total Long-Term Liabilities $488.0M $135.0M
YoY Change -94.93% -98.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.45B $70.90B
Total Long-Term Liabilities $488.0M $135.0M
Total Liabilities $79.93B $71.03B
YoY Change 27.81% 34.94%
SHAREHOLDERS EQUITY
Retained Earnings -$8.320B -$8.338B
YoY Change 0.45% 9.24%
Common Stock $8.000M $8.000M
YoY Change 33.33% 33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.656B $8.652B
YoY Change
Total Liabilities & Shareholders Equity $89.59B $79.69B
YoY Change 28.0% 31.67%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $346.0M -$80.00M
YoY Change -188.27% -131.37%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $7.000M -$20.00M
YoY Change -113.46% -67.21%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$9.616B -$7.061B
YoY Change -3.29% -232.18%
Cash From Investing Activities -$9.616B -$7.061B
YoY Change -3.29% -232.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.489B 7.114B
YoY Change -7.46% -209.5%
NET CHANGE
Cash From Operating Activities 7.000M -20.00M
Cash From Investing Activities -9.616B -7.061B
Cash From Financing Activities 9.489B 7.114B
Net Change In Cash -120.0M 33.00M
YoY Change -146.33% -102.71%
FREE CASH FLOW
Cash From Operating Activities $7.000M -$20.00M
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, 2023. </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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2100000 shares
CY2023Q2 agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
1700000 shares
agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
2100000 shares
agnc Weighted Average Numberof Fully Vested Restricted Stock Unitsand Performance Share Units Outstanding
WeightedAverageNumberofFullyVestedRestrictedStockUnitsandPerformanceShareUnitsOutstanding
1700000 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
740000000.0 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
598800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
721100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
589100000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1900000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000.0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
740000000.0 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
599700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
723000000.0 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
590100000 shares
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-80000000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
255000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
332000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
74000000 usd
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1900000 shares
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000.0 shares
CY2024Q2 agnc Preferred Stock C Value Issued
PreferredStockCValueIssued
315000000 usd
CY2024Q2 agnc Preferred Stock C Liquidation Preference Value
PreferredStockCLiquidationPreferenceValue
325000000 usd
CY2024Q2 agnc Preferred Stock D Value Issued
PreferredStockDValueIssued
227000000 usd
CY2024Q2 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
CY2022Q3 agnc Preferred Stock G Value Issued
PreferredStockGValueIssued
145000000 usd
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
1634000000 usd
CY2024Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
1688000000 usd
CY2024Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
45800000 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
70900000 shares
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
434000000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
675000000 usd
CY2024Q2 agnc Stock Issued During Period Price Per Share
StockIssuedDuringPeriodPricePerShare
9.49
agnc Stock Issued During Period Price Per Share
StockIssuedDuringPeriodPricePerShare
9.53
CY2024Q2 agnc Commonstock Valueof Shares Remainingfor Future Issuance
CommonstockValueofSharesRemainingforFutureIssuance
1000000000.0 usd
dei Document Type
DocumentType
10-Q
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001423689-24-000058-index.html Edgar Link pending
0001423689-24-000058.txt Edgar Link pending
0001423689-24-000058-xbrl.zip Edgar Link pending
agnc-20240630.htm Edgar Link pending
agnc-20240630.xsd Edgar Link pending
agnc-20240630_g1.jpg Edgar Link pending
agncexhibit146302410-q.htm Edgar Link pending
agncexhibit3116302410-q.htm Edgar Link pending
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