2015 Q2 Form 10-Q Financial Statement
#000142820515000173 Filed on July 29, 2015
Income Statement
Concept | 2015 Q2 | 2014 Q2 |
---|---|---|
Revenue | $221.2M | -$41.50M |
YoY Change | -633.01% | -108.08% |
Cost Of Revenue | $13.90M | $19.20M |
YoY Change | -27.6% | -18.64% |
Gross Profit | $207.3M | -$60.70M |
YoY Change | -441.52% | -112.39% |
Gross Profit Margin | 93.72% | |
Selling, General & Admin | $8.300M | $8.800M |
YoY Change | -5.68% | 1.15% |
% of Gross Profit | 4.0% | |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $9.246M | $9.455M |
YoY Change | -2.21% | 1.64% |
Operating Profit | $198.1M | -$70.16M |
YoY Change | -382.31% | -114.59% |
Interest Expense | $13.92M | $14.98M |
YoY Change | -7.09% | -36.52% |
% of Operating Profit | 7.03% | |
Other Income/Expense, Net | $974.0K | $670.0K |
YoY Change | 45.37% | 18.79% |
Pretax Income | $198.0M | -$70.19M |
YoY Change | -382.09% | -114.58% |
Income Tax | $0.00 | $0.00 |
% Of Pretax Income | 0.0% | |
Net Earnings | $198.0M | -$70.19M |
YoY Change | -382.12% | -114.58% |
Net Earnings / Revenue | 89.52% | |
Basic Earnings Per Share | $4.42 | -$1.68 |
Diluted Earnings Per Share | $4.41 | -$1.68 |
COMMON SHARES | ||
Basic Shares Outstanding | 43.92M shares | 44.64M shares |
Diluted Shares Outstanding | 44.02M shares | 44.64M shares |
Balance Sheet
Concept | 2015 Q2 | 2014 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $363.0M | $433.0M |
YoY Change | -16.17% | -46.08% |
Cash & Equivalents | $363.2M | $433.1M |
Short-Term Investments | ||
Other Short-Term Assets | $1.000M | $0.00 |
YoY Change | -100.0% | |
Inventory | ||
Prepaid Expenses | ||
Receivables | $40.00M | $45.00M |
Other Receivables | $753.0M | $0.00 |
Total Short-Term Assets | $1.157B | $478.0M |
YoY Change | 142.05% | -49.31% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $13.80B | $16.96B |
YoY Change | -18.67% | -24.97% |
Other Assets | $138.0M | $14.00M |
YoY Change | 885.71% | -95.0% |
Total Long-Term Assets | $13.97B | $17.15B |
YoY Change | -18.55% | -26.19% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.157B | $478.0M |
Total Long-Term Assets | $13.97B | $17.15B |
Total Assets | $15.12B | $17.62B |
YoY Change | -14.19% | -27.09% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.000M | $1.021B |
YoY Change | -99.9% | 33933.33% |
Accrued Expenses | $5.000M | $18.00M |
YoY Change | -72.22% | 80.0% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $13.42B | $14.39B |
YoY Change | -6.75% | -27.17% |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $13.43B | $14.54B |
YoY Change | -7.66% | -27.22% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $108.0M | $109.0M |
YoY Change | -0.92% | -94.48% |
Total Long-Term Liabilities | $108.0M | $109.0M |
YoY Change | -0.92% | -94.48% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $13.43B | $14.54B |
Total Long-Term Liabilities | $108.0M | $109.0M |
Total Liabilities | $13.54B | $15.67B |
YoY Change | -13.63% | -28.62% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$1.073B | -$848.5M |
YoY Change | 26.45% | |
Common Stock | $350.0K | $357.0K |
YoY Change | -1.96% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.587B | $1.951B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $15.12B | $17.62B |
YoY Change | -14.19% | -27.09% |
Cashflow Statement
Concept | 2015 Q2 | 2014 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $198.0M | -$70.19M |
YoY Change | -382.12% | -114.58% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | $37.80M | $89.00M |
YoY Change | -57.53% | -25.15% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $386.3M | -$1.458B |
YoY Change | -126.5% | -215.69% |
Cash From Investing Activities | $386.3M | -$1.458B |
YoY Change | -126.5% | -215.69% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | $57.68M | |
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -534.8M | 1.213B |
YoY Change | -144.09% | -185.87% |
NET CHANGE | ||
Cash From Operating Activities | 37.80M | 89.00M |
Cash From Investing Activities | 386.3M | -1.458B |
Cash From Financing Activities | -534.8M | 1.213B |
Net Change In Cash | -110.7M | -155.7M |
YoY Change | -28.9% | 362.02% |
FREE CASH FLOW | ||
Cash From Operating Activities | $37.80M | $89.00M |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
9497000 | USD | |
us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
9497000 | USD | |
us-gaap |
Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
|
1530000 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
1259000 | USD | |
CY2015Q2 | arr |
Aggregate Tax Basis Stockholders Equityin Excessof Assetsand Liabilities
AggregateTaxBasisStockholdersEquityinExcessofAssetsandLiabilities
|
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CY2015Q2 | arr |
Aggregate Tax Basis Stockholders Equityin Excessof Assetsand Liabilities Per Share
AggregateTaxBasisStockholdersEquityinExcessofAssetsandLiabilitiesPerShare
|
-0.12 | |
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Available For Sale Securities Weighted Average Coupon Rate
AvailableForSaleSecuritiesWeightedAverageCouponRate
|
0.0347 | |
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Available For Sale Securities Weighted Average Coupon Rate
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|
0.0345 | |
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Availableforsale Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
|
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CY2015Q2 | arr |
Availableforsale Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
|
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CY2014Q4 | arr |
Availableforsale Securities Debt Maturities Rolling After Year Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
|
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CY2015Q2 | arr |
Availableforsale Securities Debt Maturities Rolling After Year Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
|
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CY2014Q4 | arr |
Availableforsale Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
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|
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Availableforsale Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
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|
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Availableforsale Securities Debt Maturities Rolling Year Four Through Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveFairValue
|
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CY2015Q2 | arr |
Availableforsale Securities Debt Maturities Rolling Year Four Through Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveFairValue
|
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AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeAmortizedCostBasis
|
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Availableforsale Securities Debt Maturities Rolling Year Two Through Three Amortized Cost Basis
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|
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Availableforsale Securities Debt Maturities Rolling Year Two Through Three Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeFairValue
|
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Availableforsale Securities Debt Maturities Rolling Year Two Through Three Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeFairValue
|
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arr |
Availableforsale Securities Quotes Received Numberof Dealers
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|
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Cash Collateral Held For Counterparties
CashCollateralHeldForCounterparties
|
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Cash Collateral Held For Counterparties
CashCollateralHeldForCounterparties
|
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arr |
Common Stock Acquired Average Cost Per Share
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|
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Common Stock Dividends Per Share Declared Pro Forma
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|
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Common Stock Dividends Per Share Declared Pro Forma
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|
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|
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Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
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|
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Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
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Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
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|
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Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
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|
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Effective Taxable Income Reconciliation Changes In Derivatives
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|
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Effective Taxable Income Reconciliation Changes In Derivatives
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|
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Effective Taxable Income Reconciliation Changes In Derivatives
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|
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Effective Taxable Income Reconciliation Changes In Derivatives
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|
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|
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Effective Taxable Income Reconciliation Gains Losseson Availableforsale Securities
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Effective Taxable Income Reconciliation Net Premium Amortization Differences
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|
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Effective Taxable Income Reconciliation Net Premium Amortization Differences
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|
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Effective Taxable Income Reconciliation Net Premium Amortization Differences
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|
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Effective Taxable Income Reconciliation Other Adjustments
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|
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Effective Taxable Income Reconciliation Other Adjustments
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|
4000 | USD |
arr |
Effective Taxable Income Reconciliation Other Adjustments
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|
8000 | USD | |
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|
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Estimated Reit Taxable Income
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|
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EstimatedREITTaxableIncome
|
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Estimated Reit Taxable Income
EstimatedREITTaxableIncome
|
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Gain Losson Availableforsale Securitiesand Short Sales
GainLossonAvailableforsaleSecuritiesandShortSales
|
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arr |
Gain Losson Availableforsale Securitiesand Short Sales
GainLossonAvailableforsaleSecuritiesandShortSales
|
65255000 | USD | |
CY2015Q2 | arr |
Gain Losson Availableforsale Securitiesand Short Sales
GainLossonAvailableforsaleSecuritiesandShortSales
|
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Gain Losson Availableforsale Securitiesand Short Sales
GainLossonAvailableforsaleSecuritiesandShortSales
|
1493000 | USD | |
arr |
Gain Losson Short Saleof Us Treasury Securities
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|
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arr |
Gain Losson Short Saleof Us Treasury Securities
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|
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Haircuton Repurchase Agreements
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|
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Haircuton Repurchase Agreements
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|
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|
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|
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Interest Expense Us Treasury Securities Sold Short
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|
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Interest Expense Us Treasury Securities Sold Short
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|
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Interest Expense Us Treasury Securities Sold Short
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|
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Interest Expense Us Treasury Securities Sold Short
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|
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|
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Interest Payable Securities Soldunder Agreementsto Repurchase
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|
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Issuance Of Common Stock Receivable
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|
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Issuance Of Common Stock Receivable
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|
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arr |
Noncash Investingand Financing Activities Payablesto Broker Dealers And Clearing Organizations
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|
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Noncash Investingand Financing Activities Payablesto Broker Dealers And Clearing Organizations
NoncashInvestingandFinancingActivitiesPayablestoBrokerDealersAndClearingOrganizations
|
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Noncash Investingand Financing Activities Receivables From Brokers Dealersand Clearing Organizations
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|
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Noncash Investingand Financing Activities Receivables From Brokers Dealersand Clearing Organizations
NoncashInvestingandFinancingActivitiesReceivablesFromBrokersDealersandClearingOrganizations
|
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Other Operating Income Loss
OtherOperatingIncomeLoss
|
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Other Operating Income Loss
OtherOperatingIncomeLoss
|
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Other Operating Income Loss
OtherOperatingIncomeLoss
|
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arr |
Other Operating Income Loss
OtherOperatingIncomeLoss
|
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Payables To Broker Dealers And Clearing Organizations Fair Value Disclosure
PayablesToBrokerDealersAndClearingOrganizationsFairValueDisclosure
|
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arr |
Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
|
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arr |
Payments For Securities Sold Under Agreements To Repurchase
PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
|
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CY2014Q4 | arr |
Pledged Financial Instruments Not Separately Reported Receivables From Brokers Dealers And Clearing Organizations
PledgedFinancialInstrumentsNotSeparatelyReportedReceivablesFromBrokersDealersAndClearingOrganizations
|
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CY2015Q2 | arr |
Pledged Financial Instruments Not Separately Reported Receivables From Brokers Dealers And Clearing Organizations
PledgedFinancialInstrumentsNotSeparatelyReportedReceivablesFromBrokersDealersAndClearingOrganizations
|
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Preferred Stock Undesignated Shares Authorized
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|
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Principal Payments Receivable
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|
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Principal Payments Receivable
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|
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Proceeds From Securities Sold Under Agreements To Repurchase
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|
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arr |
Proceeds From Securities Sold Under Agreements To Repurchase
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|
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arr |
Proceedsfrom Short Salesof U.S.Treasury Securities Financing Activities
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|
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arr |
Proceedsfrom Short Salesof U.S.Treasury Securities Financing Activities
ProceedsfromShortSalesofU.S.TreasurySecuritiesFinancingActivities
|
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Receivables From Brokers Dealers And Clearing Organizations Fair Value Disclosure
ReceivablesFromBrokersDealersAndClearingOrganizationsFairValueDisclosure
|
260598000 | USD |
CY2015Q2 | arr |
Related Party Transaction Management Agreement Gross Equity Raised
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|
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Related Party Transaction Management Agreement Monthly Percentageof Effective Management Fee Percentage
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|
0.0833 | |
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Repurchase Agreements Number Of Counterparties
RepurchaseAgreementsNumberOfCounterparties
|
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Repurchase Agreements Number Of Counterparties
RepurchaseAgreementsNumberOfCounterparties
|
29 | counterparty |
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Repurchase Agreements Numberof Master Repurchase Agreements
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|
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CY2015Q2 | arr |
Repurchase Agreements Numberof Master Repurchase Agreements
RepurchaseAgreementsNumberofMasterRepurchaseAgreements
|
37 | agreement |
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Short Saleof Us Treasury Securities Net Realized Gain Loss
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|
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Short Saleof Us Treasury Securities Net Realized Gain Loss
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|
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Short Saleof Us Treasury Securities Net Realized Gain Loss
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|
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Short Saleof Us Treasury Securities Net Realized Gain Loss
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|
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Sub Management Agreement Lump Sum Cash Payment Option
SubManagementAgreementLumpSumCashPaymentOption
|
33559000 | USD | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2015 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-06-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001428205 | ||
CY2015Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
350275496 | shares |
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Armour Residential REIT, Inc. | ||
dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | ||
dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
Yes | ||
CY2014Q4 | invest |
Derivative Notional Amount
DerivativeNotionalAmount
|
13030000000 | USD |
CY2015Q2 | invest |
Derivative Notional Amount
DerivativeNotionalAmount
|
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CY2014Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
|
16649000 | USD |
CY2015Q2 | us-gaap |
Accounts Payable And Other Accrued Liabilities
AccountsPayableAndOtherAccruedLiabilities
|
938000 | USD |
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-30668000 | USD | |
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
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CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
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Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
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Additional Paid In Capital
AdditionalPaidInCapital
|
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Additional Paid In Capital
AdditionalPaidInCapital
|
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Assets
Assets
|
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CY2015Q2 | us-gaap |
Assets
Assets
|
15123693000 | USD |
CY2014Q4 | us-gaap |
Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
|
13881921000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-63329000 | USD | |
CY2015Q2 | us-gaap |
Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
|
13422795000 | USD |
CY2014Q4 | us-gaap |
Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
|
0.0038 | |
CY2015Q2 | us-gaap |
Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
|
0.0040 | |
CY2014Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
111960000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
49782000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
27606000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
98992000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
15213175000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
13845196000 | USD |
us-gaap |
Available For Sale Securities Change In Net Unrealized Holding Gain Loss Net Of Tax
AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax
|
337931000 | USD | |
us-gaap |
Available For Sale Securities Change In Net Unrealized Holding Gain Loss Net Of Tax
AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax
|
-132071000 | USD | |
CY2014Q4 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
25282000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
44977000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
|
27606000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
|
98992000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
|
3358905000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
|
7419232000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
2324000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
54015000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
|
895382000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
|
5302050000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
|
2463523000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
|
2117182000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
|
0 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
|
27000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
|
0 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
|
26000 | USD |
CY2014Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
15297529000 | USD |
CY2015Q2 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
13795986000 | USD |
CY2014Q2 | us-gaap |
Available For Sale Securities Gross Realized Gains Losses Sale Proceeds
AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds
|
1206494000 | USD |
us-gaap |
Available For Sale Securities Gross Realized Gains Losses Sale Proceeds
AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds
|
6782481000 | USD | |
CY2015Q2 | us-gaap |
Available For Sale Securities Gross Realized Gains Losses Sale Proceeds
AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds
|
1445097000 | USD |
us-gaap |
Available For Sale Securities Gross Realized Gains Losses Sale Proceeds
AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds
|
2817635000 | USD | |
CY2014Q2 | us-gaap |
Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
|
11167000 | USD |
us-gaap |
Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
|
81036000 | USD | |
CY2015Q2 | us-gaap |
Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
|
-5051000 | USD |
us-gaap |
Availableforsale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments
AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
|
1493000 | USD | |
CY2014Q2 | us-gaap |
Basic Earnings Per Share Pro Forma
BasicEarningsPerShareProForma
|
-0.21 | |
us-gaap |
Basic Earnings Per Share Pro Forma
BasicEarningsPerShareProForma
|
-0.27 | ||
CY2015Q2 | us-gaap |
Basic Earnings Per Share Pro Forma
BasicEarningsPerShareProForma
|
4.40 | |
us-gaap |
Basic Earnings Per Share Pro Forma
BasicEarningsPerShareProForma
|
1.44 | ||
CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
496478000 | USD |
CY2014Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
433149000 | USD |
CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
494561000 | USD |
CY2015Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
363212000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-131349000 | USD | |
CY2014Q4 | us-gaap |
Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
|
129004000 | USD |
CY2015Q2 | us-gaap |
Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
|
137657000 | USD |
CY2014Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2015Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.04 | |
CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.04 | |
CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.04 | |
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.04 | |
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.04 | |
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.04 | |
CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.04 | |
CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.04 | |
CY2015Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.04 | |
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.04 | |
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.04 | |
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.04 | |
CY2014Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.15 | |
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.30 | ||
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.12 | |
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.24 | ||
CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2015Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
CY2015Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
353159000 | shares |
CY2015Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
350271000 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
353159000 | shares |
CY2015Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
350271000 | shares |
CY2014Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
353000 | USD |
CY2015Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
350000 | USD |
CY2014Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
140410000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
166927000 | USD | |
CY2015Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-18733000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-61015000 | USD | |
CY2014Q4 | us-gaap |
Derivative Assets
DerivativeAssets
|
60518000 | USD |
CY2015Q2 | us-gaap |
Derivative Assets
DerivativeAssets
|
32609000 | USD |
CY2014 | us-gaap |
Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
|
P63M | |
CY2014Q4 | us-gaap |
Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
|
-119561000 | USD |
CY2015Q2 | us-gaap |
Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
|
-98572000 | USD |
CY2014Q4 | us-gaap |
Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
|
137213000 | USD |
CY2015Q2 | us-gaap |
Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
|
98023000 | USD |
CY2014Q4 | us-gaap |
Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
|
227000 | USD |
CY2015Q2 | us-gaap |
Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
|
12027000 | USD |
CY2014Q4 | us-gaap |
Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
|
137213000 | USD |
CY2015Q2 | us-gaap |
Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
|
98023000 | USD |
CY2014Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
60518000 | USD |
CY2015Q2 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
32609000 | USD |
CY2014Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
|
60518000 | USD |
CY2015Q2 | us-gaap |
Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
|
32609000 | USD |
CY2014Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
|
42866000 | USD |
CY2015Q2 | us-gaap |
Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
|
33158000 | USD |
CY2014Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
137393000 | USD |
CY2015Q2 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
107954000 | USD |
CY2014Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
|
137393000 | USD |
CY2015Q2 | us-gaap |
Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
|
107954000 | USD |
CY2014Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
|
-47000 | USD |
CY2015Q2 | us-gaap |
Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
|
-2096000 | USD |
CY2014Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
137393000 | USD |
CY2015Q2 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
107954000 | USD |
CY2014Q2 | us-gaap |
Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
|
-0.21 | |
us-gaap |
Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
|
-0.27 | ||
CY2015Q2 | us-gaap |
Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
|
4.40 | |
us-gaap |
Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
|
1.44 | ||
us-gaap |
Dividends Common Stock
DividendsCommonStock
|
84753000 | USD | |
CY2014Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.21 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.27 | ||
CY2015Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.55 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.18 | ||
CY2014Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.21 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.27 | ||
CY2015Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.55 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.18 | ||
CY2014Q2 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-150771000 | USD |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-338865000 | USD | |
CY2015Q2 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
134529000 | USD |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-73711000 | USD | |
CY2014Q2 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
-34498000 | USD |
us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
-46236000 | USD | |
CY2015Q2 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
-59978000 | USD |
us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
-51880000 | USD | |
CY2014Q2 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
186000 | USD |
us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
369000 | USD | |
CY2015Q2 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
172000 | USD |
us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
342000 | USD | |
us-gaap |
Increase Decrease Cash Collateral From Counterparties
IncreaseDecreaseCashCollateralFromCounterparties
|
-237894000 | USD | |
us-gaap |
Increase Decrease Cash Collateral From Counterparties
IncreaseDecreaseCashCollateralFromCounterparties
|
-56731000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-20154000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-15711000 | USD | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
2867000 | USD | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
-1380000 | USD | |
us-gaap |
Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
|
-306788000 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-1962000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-424000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-462000 | USD | |
CY2014Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
CY2015Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
843000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
843000 | shares | |
CY2014Q2 | us-gaap |
Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
|
113892000 | USD |
us-gaap |
Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
|
236974000 | USD | |
CY2015Q2 | us-gaap |
Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
|
91703000 | USD |
us-gaap |
Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
|
191253000 | USD | |
CY2014Q2 | us-gaap |
Interest Expense
InterestExpense
|
14979000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
29726000 | USD | |
CY2015Q2 | us-gaap |
Interest Expense
InterestExpense
|
13917000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
28108000 | USD | |
CY2014Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
94650000 | USD |
us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
202985000 | USD | |
CY2015Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
77786000 | USD |
us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
163145000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
101956000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
140950000 | USD | |
CY2014Q4 | us-gaap |
Interest Receivable
InterestReceivable
|
41915000 | USD |
CY2015Q2 | us-gaap |
Interest Receivable
InterestReceivable
|
39935000 | USD |
CY2014Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
734000 | USD |
us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
1446000 | USD | |
CY2015Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
575000 | USD |
us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
1188000 | USD | |
CY2014Q4 | us-gaap |
Liabilities
Liabilities
|
14536507000 | USD |
CY2015Q2 | us-gaap |
Liabilities
Liabilities
|
13536899000 | USD |
CY2014Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
16285798000 | USD |
CY2015Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
15123693000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
3164554000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-561107000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-3393629000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
318822000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
165746000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
110936000 | USD | |
CY2014Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-70190000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-89968000 | USD | |
CY2015Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
198018000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
72549000 | USD | |
CY2014Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-74095000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-97780000 | USD | |
CY2015Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
194113000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
64739000 | USD | |
CY2014Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
9455000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
19343000 | USD | |
CY2015Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
9246000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
18378000 | USD | |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
210600000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
256895000 | USD | |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-216751000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-133564000 | USD | |
CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
11167000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
81036000 | USD | |
CY2015Q2 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
-5051000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
1493000 | USD | |
CY2014Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
221767000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
337931000 | USD | |
CY2015Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-221802000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-132071000 | USD | |
CY2014Q2 | us-gaap |
Other Expenses
OtherExpenses
|
670000 | USD |
us-gaap |
Other Expenses
OtherExpenses
|
1424000 | USD | |
CY2015Q2 | us-gaap |
Other Expenses
OtherExpenses
|
974000 | USD |
us-gaap |
Other Expenses
OtherExpenses
|
1653000 | USD | |
CY2014Q2 | us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
|
0 | USD |
us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
|
0 | USD | |
CY2014 | us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
|
0 | USD |
CY2015Q2 | us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
|
0 | USD |
us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
|
0 | USD | |
CY2014Q4 | us-gaap |
Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
|
445292000 | USD |
CY2015Q2 | us-gaap |
Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
|
0 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
2585000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
9497000 | USD | |
us-gaap |
Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
|
3080908000 | USD | |
us-gaap |
Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
|
0 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
92564000 | USD | |
CY2015Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14169000 | USD |
CY2015Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14168000 | USD |
CY2015Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14149000 | USD |
CY2015Q2 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14133000 | USD |
CY2015Q2 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14045000 | USD |
CY2015Q2 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14089000 | USD |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
107626000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
84753000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
9640164000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
2937195000 | USD | |
CY2014Q4 | us-gaap |
Pledged Financial Instruments Not Separately Reported Mortgage Related Securities Available For Sale Or Held For Investment
PledgedFinancialInstrumentsNotSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
|
14370847000 | USD |
CY2015Q2 | us-gaap |
Pledged Financial Instruments Not Separately Reported Mortgage Related Securities Available For Sale Or Held For Investment
PledgedFinancialInstrumentsNotSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
|
13285441000 | USD |
CY2014Q2 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3905000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
7812000 | USD | |
CY2015Q2 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3905000 | USD |
us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
7810000 | USD | |
CY2014Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2015Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2014Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2015Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | shares |
CY2014Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
1580000 | USD |
CY2015Q2 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
1123000 | USD |
CY2014Q2 | us-gaap |
Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
|
357111000 | shares |
us-gaap |
Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
|
357302000 | shares | |
CY2015Q2 | us-gaap |
Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
|
44022000 | shares |
us-gaap |
Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
|
44122000 | shares | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
135000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
80000 | USD | |
us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
733237000 | USD | |
us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
993520000 | USD | |
us-gaap |
Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
|
6779853000 | USD | |
us-gaap |
Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
|
2319228000 | USD | |
us-gaap |
Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
|
2052247000 | USD | |
us-gaap |
Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
|
0 | USD | |
CY2014Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
901000 | USD |
us-gaap |
Professional Fees
ProfessionalFees
|
2175000 | USD | |
CY2015Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
658000 | USD |
us-gaap |
Professional Fees
ProfessionalFees
|
1451000 | USD | |
CY2014Q4 | us-gaap |
Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
|
260598000 | USD |
CY2015Q2 | us-gaap |
Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
|
752773000 | USD |
CY2014Q2 | us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
6964000 | USD |
us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
13929000 | USD | |
CY2015Q2 | us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
6867000 | USD |
us-gaap |
Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
|
13744000 | USD | |
CY2014 | us-gaap |
Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
|
P60D | |
us-gaap |
Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
|
P52D | ||
CY2014Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-1052969000 | USD |
CY2015Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-1072984000 | USD |
CY2014Q4 | us-gaap |
Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
|
13881921000 | USD |
CY2015Q2 | us-gaap |
Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
|
13422795000 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
597000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
494000 | USD | |
us-gaap |
Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
|
27000 | shares | |
us-gaap |
Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
|
85000 | USD | |
us-gaap |
Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
|
85000 | USD | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
494000 | USD | |
CY2014Q1 | us-gaap |
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
|
50000000 | shares |
us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
3075000 | shares | |
CY2014Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1749291000 | USD |
CY2015Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1586794000 | USD |
CY2014Q2 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-116273000 | USD |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-292629000 | USD | |
CY2015Q2 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
194507000 | USD |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-21831000 | USD | |
CY2014Q2 | us-gaap |
Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
|
357111000 | shares |
us-gaap |
Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
|
357302000 | shares | |
CY2015Q2 | us-gaap |
Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
|
43916000 | shares |
us-gaap |
Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
|
44017000 | shares | |
CY2014Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
357111000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
357302000 | shares | |
CY2015Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
352175000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
352977000 | shares | |
CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
357111000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
357302000 | shares | |
CY2015Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
351332000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
352134000 | shares | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;text-align:center;text-indent:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the </font><font style="font-family:inherit;font-size:10pt;">six months</font><font style="font-family:inherit;font-size:10pt;"> ended </font><font style="font-family:inherit;font-size:10pt;">June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for the calendar year ending </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">. These unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto included in our annual report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:justify;text-indent:58px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements include the accounts of ARMOUR Residential REIT, Inc. and its subsidiary. All intercompany accounts and transactions have been eliminated. The preparation of 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the accompanying condensed consolidated financial statements include the valuation of Agency Securities (as defined below) and derivative instruments.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">References to “we,” “us,” “our,” “ARMOUR” or the “Company” are to ARMOUR Residential REIT, Inc. References to “ACM” are to ARMOUR Capital Management LP, a Delaware limited partnership, formerly known as ARMOUR Residential    Management LLC. On December 19, 2014, ARMOUR Residential Management LLC, our external manager under the Management Agreement (as defined below), changed its name to ARMOUR Capital Management LP and converted from a Delaware limited liability company to a Delaware limited partnership and continued as the manager under the same Management Agreement (the “Conversion”). </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">One-For-Eight-Reverse Stock Split of Common Stock</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On June 18, 2015, we announced that our Board of Directors had approved a reverse stock split of our outstanding shares of common stock at a ratio of one-for-eight (the “Reverse Stock Split”). The Reverse Stock Split is scheduled to take effect at about 5:00 p.m. Eastern Time on July 31, 2015 (the “Effective Time”). At the Effective Time, every eight issued and outstanding shares of common stock will be converted into one share of common stock, and as a result, the number of outstanding shares of common stock will be reduced from approximately </font><font style="font-family:inherit;font-size:10pt;">350,000</font><font style="font-family:inherit;font-size:10pt;"> to approximately </font><font style="font-family:inherit;font-size:10pt;">43,750</font><font style="font-family:inherit;font-size:10pt;">. At the Effective Time, the number of authorized shares of common stock will also be reduced, on a one-for-eight basis, from </font><font style="font-family:inherit;font-size:10pt;">1,000,000</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">125,000</font><font style="font-family:inherit;font-size:10pt;">. The par value of each share of common stock will remain unchanged. Trading in our common stock on a split adjusted basis is expected to begin at the market open on August 3, 2015. Our common stock will continue trading on the NYSE under the symbol “ARR” but will be assigned a new CUSIP number. On July 28, 2015, our Board of Directors also increased the number of shares of common stock authorized for repurchase under our common stock repurchase program (the "Repurchase Program") to an aggregate of </font><font style="font-family:inherit;font-size:10pt;">9,000</font><font style="font-family:inherit;font-size:10pt;"> shares on a post-reverse stock split basis, effective August 3, 2015. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">No fractional shares will be issued in connection with the reverse stock split. Instead, each stockholder holding fractional shares will be entitled to receive, in lieu of such fractional shares, cash in an amount determined on the basis of the average closing price of our common stock on the NYSE for the three consecutive trading days ending on July 31, 2015. The Reverse Stock Split will apply to all of our authorized and outstanding shares of common stock as of the Effective Time. The Reverse Stock Split doesn't affect our Series A Cumulative Preferred Shares, (“Series A Preferred Stock”) or our Series B Cumulative Preferred Shares (“Series B Preferred Stock”).</font></div></div> | ||
us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> Recent Accounting Pronouncements</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2014, the Financial Accounting Standards Board issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU 2014-11, Repurchase-to Maturity Transactions, Repurchase Financing, and Disclosures, Transfers and Servicing (Topic 860).</font><font style="font-family:inherit;font-size:10pt;"> We do not have repurchase-to-maturity transactions or repurchase financing arrangements of the type covered by ASU 2014-11, therefore this amendment to the accounting standards will not affect our condensed consolidated balance sheets or statements of operations. The amendment also requires certain additional disclosures about repurchase agreements beginning with these second quarter 2015 financial statements, See </font><font style="font-family:inherit;font-size:10pt;">Note 7</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">, “</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Repurchase Agreements</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">”</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div> | ||
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Nature Of Operations
NatureOfOperations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Nature of Business Operations</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are an externally managed Maryland corporation organized in 2008, managed by ACM, an investment advisor registered with the SEC (see </font><font style="font-family:inherit;font-size:10pt;">Note 9</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">“</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Commitments and Contingencies</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">” </font><font style="font-family:inherit;font-size:10pt;">and </font><font style="font-family:inherit;font-size:10pt;">Note 14</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">“</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Related Party Transactions</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">”</font><font style="font-family:inherit;font-size:10pt;"> for additional discussion). We invest in residential mortgage backed securities issued or guaranteed by a United States (“U.S.”) Government-sponsored entity (“GSE”), such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) or guaranteed by the Government National Mortgage Administration (Ginnie Mae) (collectively, "Agency Securities"). We also may invest in other securities backed by residential mortgages for which the payment of principal and interest is not guaranteed by a GSE or government agency (collectively, "Non-Agency Securities"). While we remain committed to investing in Agency Securities for so long as an adequate supply and pricing exists, we have the flexibility to invest in Non-Agency Securities and respond to changes in GSE policy as needed. At </font><font style="font-family:inherit;font-size:10pt;">June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, Agency Securities accounted for </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> of our securities portfolio. It is expected that the percentage will continue to be </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> or close thereto. Our securities portfolio consists primarily of Agency Securities backed by fixed rate home loans. From time to time, a portion of our assets may be invested in Agency Securities backed by hybrid adjustable rate and adjustable rate home loans as well as unsecured notes and bonds issued by GSEs, U.S. Treasuries and money market instruments, subject to certain income tests we must satisfy for our qualification as a real estate investment trust (“REIT”).</font></div><div style="line-height:120%;text-align:justify;text-indent:58px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have elected to be taxed as a REIT under the Internal Revenue Code as amended (“the Code”). Our qualification as a REIT depends on our ability to meet, on a continuing basis, various complex requirements under the Code relating to, among other things, the sources of our gross income, the composition and values of our assets, our distribution levels and the concentration of ownership of our capital stock. We believe that we are organized in conformity with the requirements for qualification as a REIT under the Code and our manner of operations enables us to meet the requirements for taxation as a REIT for federal income tax purposes.</font></div><div style="line-height:120%;text-align:justify;text-indent:58px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As a REIT, we will generally not be subject to federal income tax on the REIT taxable income that we currently distribute to our stockholders. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we will be subject to federal income tax at regular corporate rates. Even if we qualify as a REIT for federal income tax purposes, we may still be subject to some federal, state and local taxes on our income.</font></div></div> | ||
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Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table represents the contractual repricing regarding our repurchase agreements to finance Agency Security purchases at </font><font style="font-family:inherit;font-size:10pt;">June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">. No amounts below are subject to offsetting.</font></div><div style="line-height:120%;text-align:center;text-indent:10px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="15" rowspan="1"></td></tr><tr><td width="44%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="11%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="12%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="12%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="11%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">June 30, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2014</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Repurchase Agreements</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted Average Contractual Rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Repurchase Agreements</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted Average Contractual Rate</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Within 30 days</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,464,914</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.38</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,994,656</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.36</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31 days to 60 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,339,228</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.39</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,631,858</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.37</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">61 days to 90 days</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,976,610</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.42</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,348,839</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Greater than 90 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,642,043</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.46</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,906,568</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.44</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Total or Weighted Average</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,422,795</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,881,921</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.38</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;text-indent:10px;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:58px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our repurchase agreements require that we maintain adequate pledged collateral. A decline in the value of the Agency Securities pledged as collateral for borrowings under repurchase agreements could result in the counterparties demanding additional collateral pledges or liquidation of some of the existing collateral to reduce borrowing levels. We manage this risk by maintaining an adequate balance of available cash and unpledged securities. We also may receive cash or securities as collateral from our derivative counterparties which we may use as additional collateral for repurchase agreements. Certain interest rate swap contracts provide for cross collateralization and cross default with repurchase agreements and other contracts with the same counterparty.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table represents the MRAs and other information regarding our repurchase agreements to finance Agency Security purchases at </font><font style="font-family:inherit;font-size:10pt;">June 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2014</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7" rowspan="1"></td></tr><tr><td width="73%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="11%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="12%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">June 30, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2014</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Number of MRAs</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Number of counterparties with repurchase agreements outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Weighted average maturity in days</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">60</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Haircut for repurchase agreements (1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.81</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.81</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Haircut represents the weighted average margin requirement, or the percentage amount by which the collateral value must exceed the loan amount. Among other things, it is a measure of our unsecured credit risk to our lenders. </font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> |