2021 Form 10-K Financial Statement

#000142820522000026 Filed on February 16, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $57.39M $91.60M -$119.2M
YoY Change -148.14% -48.19% -255.21%
Cost Of Revenue -$1.490M $100.0K $54.10M
YoY Change -102.75% -99.83% -81.23%
Gross Profit $58.88M $91.50M -$173.3M
YoY Change -133.97% -21.99% -18.02%
Gross Profit Margin 102.6% 99.89%
Selling, General & Admin $41.18M $9.700M $39.70M
YoY Change 3.72% 14.12% 7.3%
% of Gross Profit 69.93% 10.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $43.52M $10.05M $40.82M
YoY Change 6.6% 16.45% 6.08%
Operating Profit $15.36M $81.45M -$214.1M
YoY Change -107.17% -25.05% -14.31%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $15.36M $81.40M -$215.1M
YoY Change -107.14% -25.11% -13.93%
Income Tax
% Of Pretax Income
Net Earnings $15.36M $81.41M -$215.1M
YoY Change -107.14% -25.09% -13.92%
Net Earnings / Revenue 26.77% 88.88%
Basic Earnings Per Share $0.05 $1.22 -$3.57
Diluted Earnings Per Share $0.05 $1.21 -$3.57
COMMON SHARES
Basic Shares Outstanding 79.49M shares 64.90M shares 63.07M shares
Diluted Shares Outstanding 80.31M shares 65.39M shares 63.07M shares

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $337.7M $168.0M $168.0M
YoY Change 100.99% -7.18% -7.18%
Cash & Equivalents $171.7M
Short-Term Investments
Other Short-Term Assets $1.094M $2.000M $2.000M
YoY Change -45.3% -77.78% -77.78%
Inventory
Prepaid Expenses
Receivables $10.57M $13.00M $13.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $349.3M $183.0M $183.0M
YoY Change 90.89% -18.67% -18.67%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.605B $5.178B $5.178B
YoY Change -11.06% -59.63% -59.63%
Other Assets $18.55M $4.000M $4.000M
YoY Change 363.8% -95.65% -95.65%
Total Long-Term Assets $4.928B $5.341B $5.341B
YoY Change -7.73% -59.06% -59.06%
TOTAL ASSETS
Total Short-Term Assets $349.3M $183.0M $183.0M
Total Long-Term Assets $4.928B $5.341B $5.341B
Total Assets $5.277B $5.524B $5.524B
YoY Change -4.47% -58.38% -58.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.727M $3.000M $3.000M
YoY Change -9.1% -25.0% -25.0%
Accrued Expenses $944.0K $2.000M $2.000M
YoY Change -52.8% -93.75% -93.75%
Deferred Revenue
YoY Change
Short-Term Debt $3.948B $4.536B $4.536B
YoY Change -12.96% -60.05% -60.05%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.123B $4.586B $4.586B
YoY Change -10.1% -59.79% -59.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.90M $1.000M $1.000M
YoY Change 990.0% -99.77% -99.77%
Total Long-Term Liabilities $10.90M $1.000M $1.000M
YoY Change 990.0% -99.77% -99.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.123B $4.586B $4.586B
Total Long-Term Liabilities $10.90M $1.000M $1.000M
Total Liabilities $4.134B $4.586B $4.586B
YoY Change -9.86% -61.25% -61.25%
SHAREHOLDERS EQUITY
Retained Earnings -$2.274B
YoY Change 15.22%
Common Stock $65.00K
YoY Change 10.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.144B $938.3M $938.0M
YoY Change
Total Liabilities & Shareholders Equity $5.277B $5.524B $5.524B
YoY Change -4.47% -58.38% -58.38%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $15.36M $81.41M -$215.1M
YoY Change -107.14% -25.09% -13.92%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $11.74M $37.10M -$257.8M
YoY Change -104.55% -48.18% 533.21%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $503.6M -$143.1M $7.086B
YoY Change -92.89% -157.59% -261.41%
Cash From Investing Activities $503.6M -$143.1M $7.086B
YoY Change -92.89% -157.59% -261.41%
FINANCING ACTIVITIES
Cash Dividend Paid $108.1M $86.65M
YoY Change 24.76% -38.32%
Common Stock Issuance & Retirement, Net -$328.8M -$53.80M
YoY Change 511.14% -82.36%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$330.8M 10.00M -$6.929B
YoY Change -95.23% -103.0% -254.97%
NET CHANGE
Cash From Operating Activities $11.74M 37.10M -$257.8M
Cash From Investing Activities $503.6M -143.1M $7.086B
Cash From Financing Activities -$330.8M 10.00M -$6.929B
Net Change In Cash $184.5M -96.00M -$101.5M
YoY Change -281.82% 600.73% -347.76%
FREE CASH FLOW
Cash From Operating Activities $11.74M $37.10M -$257.8M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2020 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
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CY2019 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
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CY2019 us-gaap Increase Decrease Cash Collateral From Counterparties
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Interest Paid Net
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CY2019 us-gaap Interest Paid Net
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CY2021 arr Noncash Investingand Financing Activities Payablesto Broker Dealers And Clearing Organizations
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CY2020 arr Noncash Investingand Financing Activities Payablesto Broker Dealers And Clearing Organizations
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CY2019 arr Noncash Investingand Financing Activities Payablesto Broker Dealers And Clearing Organizations
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CY2021 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2020 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2019 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2021 arr Issuanceof Preferred Stock Receivable
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CY2020 arr Issuanceof Preferred Stock Receivable
IssuanceofPreferredStockReceivable
0 USD
CY2019 arr Issuanceof Preferred Stock Receivable
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CY2021 arr Repurchaseof Common Stock Amounts Payable
RepurchaseofCommonStockAmountsPayable
0 USD
CY2020 arr Repurchaseof Common Stock Amounts Payable
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0 USD
CY2019 arr Repurchaseof Common Stock Amounts Payable
RepurchaseofCommonStockAmountsPayable
803000 USD
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-bottom:6pt"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 1 - Organization and Nature of Business Operations </span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">References to “we,” “us,” “our,” or the “Company” are to ARMOUR Residential REIT, Inc. (“ARMOUR”) and its subsidiaries. References to “ACM” are to ARMOUR Capital Management LP, a Delaware limited partnership. ARMOUR owns a 10% equity interest in BUCKLER Securities LLC ("BUCKLER"). BUCKLER is a Delaware limited liability company and a FINRA-regulated broker-dealer, controlled by ACM and certain executive officers of ARMOUR. Refer to the Glossary of Terms for definitions of capitalized terms and abbreviations used in this report. </span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ARMOUR is an externally managed Maryland corporation incorporated in 2008. The Company is managed by ACM, an investment advisor registered with the SEC (see </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 9 - Commitments and Contingencies</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 15 - Related Party Transactions</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). We have elected to be taxed as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, 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. 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 U.S. federal income tax purposes, we may still be subject to some federal, state and local taxes on our income.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At December 31, 2021 and December 31, 2020, we invested in mortgage backed securities ("MBS"), 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 a government agency such as Government National Mortgage Administration ("Ginnie Mae") (collectively, "Agency Securities"). Our Agency Securities consist primarily of fixed rate loans. The remaining are either backed by hybrid adjustable rate or adjustable rate loans. From time to time we have also invested in Credit Risk and Non-Agency Securities, Interest-Only Securities, U.S. Treasury Securities and money market instruments.</span></div>
CY2021 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="margin-bottom:6pt"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 2 - Basis of Presentation and Consolidation </span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“GAAP”). The consolidated financial statements include the accounts of ARMOUR Residential REIT, Inc. and its subsidiaries. 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 consolidated financial statements include the valuation of MBS, including an assessment of the allowance for credit losses, and derivative instruments.</span></div>
CY2021 us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Revenue Recognition</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest income is earned and recognized on Agency Securities based on their unpaid principal amounts and their contractual terms. Recognition of interest income commences on the settlement date of the purchase transaction and continues through the settlement date of the sale transaction. Premiums and discounts associated with the purchase of Multi-Family MBS, which are generally not subject to prepayment, are amortized or accreted into interest income over the contractual lives of the securities using a level yield method. Premiums and discounts associated with the purchase of other Agency Securities are amortized or accreted into interest income over the actual lives of the securities, reflecting actual prepayments as they occur. Purchase and sale transactions (including TBA Agency Securities) are recorded on the trade date to the extent it is probable that we will take or make timely physical delivery of the related securities. Gains or losses realized from sales of available for sale securities are </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">reclassified into income from other comprehensive income and are determined using the specific identification method.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest income on Credit Risk and Non-Agency Securities and Interest-Only Securities is recognized using the effective yield method over the life of the securities based on the future cash flows expected to be received. Future cash flow projections and related effective yields are determined for each security and updated quarterly. Impairment losses establish a new cost basis in the security for purposes of calculating effective yields, recognized when the fair value of a security is less than its cost basis and there has been an adverse change in the future cash flows expected to be received. Other changes in future cash flows expected to be received are recognized prospectively over the remaining life of the security. Interest income on U.S. Treasury Securities is recognized based on their unpaid principal amounts and their contractual terms. Recognition of interest income commences on the settlement date of the purchase transaction and continues through the settlement date of the sale transaction.</span></div>
CY2021 arr Trading Securities Quotes Received Numberof Dealers
TradingSecuritiesQuotesReceivedNumberofDealers
3 dealer
CY2021Q4 us-gaap Debt Securities
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CY2021 arr Investment In Securities Fair Value Asset Purchases
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2253829000 USD
CY2021 arr Investment In Securities Fair Value Asset Sales
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CY2021 arr Investment In Securities Fair Value Asset Principal Repayments
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870985000 USD
CY2021 arr Investment In Securities Fair Value Asset Gain Loss Included In Earnings
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CY2021 arr Investment In Securities Fair Value Asset Amortization And Accretion Expense
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CY2021Q4 arr Investment In Securities Fair Value Asset Value
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4605354000 USD
CY2021Q4 arr Investment Securities Percentof Portfolio
InvestmentSecuritiesPercentofPortfolio
1.0000
CY2019Q4 arr Investment In Securities Fair Value Asset Value
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CY2020 arr Investment In Securities Fair Value Asset Sales
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-181206000 USD
CY2020 arr Investment In Securities Fair Value Asset Credit Loss Expense
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1012000 USD
CY2020 arr Investment In Securities Fair Value Asset Amortization And Accretion Expense
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50557000 USD
CY2020Q4 arr Investment In Securities Fair Value Asset Value
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CY2020Q4 arr Investment Securities Percentof Portfolio
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1.0000
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
0 USD
CY2021Q4 arr Debt Securities Availableforsale Principal Amount
DebtSecuritiesAvailableforsalePrincipalAmount
1248910000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1280872000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
45000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
107018000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1387845000 USD
CY2020Q4 arr Debt Securities Availableforsale Principal Amount
DebtSecuritiesAvailableforsalePrincipalAmount
1738906000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1791871000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
44000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
179075000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1970902000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
2924000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
17000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
5185000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
28000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
8109000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
45000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
8811000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
44000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
8811000 USD
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
44000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
179000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
174000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
71000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
72000 USD
CY2021Q4 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeFairValue
27110000 USD
CY2021Q4 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeAmortizedCostBasis
26731000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeFairValue
548352000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Two Through Three Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearTwoThroughThreeAmortizedCostBasis
520657000 USD
CY2021Q4 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveFairValue
333598000 USD
CY2021Q4 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
319762000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveFairValue
282739000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
269716000 USD
CY2021Q4 arr Availableforsale Securities Debt Maturities Rolling After Year Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
1026958000 USD
CY2021Q4 arr Availableforsale Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
934205000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling After Year Five Fair Value
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
1139740000 USD
CY2020Q4 arr Availableforsale Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
AvailableforsaleSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
1001426000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1387845000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1280872000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1970902000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1791871000 USD
CY2021Q4 arr Trading Securities Debt Principal Amount
TradingSecuritiesDebtPrincipalAmount
3110168000 USD
CY2021Q4 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
3271186000 USD
CY2021Q4 arr Debt Securities Trading Accumulated Gross Unrealized Loss Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedLossBeforeTax
54779000 USD
CY2021Q4 arr Debt Securities Trading Accumulated Gross Unrealized Gain Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedGainBeforeTax
1102000 USD
CY2021Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
3217509000 USD
CY2020Q4 arr Trading Securities Debt Principal Amount
TradingSecuritiesDebtPrincipalAmount
2991482000 USD
CY2020Q4 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
3186729000 USD
CY2020Q4 arr Debt Securities Trading Accumulated Gross Unrealized Loss Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedLossBeforeTax
1871000 USD
CY2020Q4 arr Debt Securities Trading Accumulated Gross Unrealized Gain Before Tax
DebtSecuritiesTradingAccumulatedGrossUnrealizedGainBeforeTax
22562000 USD
CY2020Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
3207420000 USD
CY2021Q4 arr Trading Securities Debt Maturities Next Rolling Twelve Months Fair Value
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
99973000 USD
CY2021Q4 arr Trading Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
99978000 USD
CY2020Q4 arr Trading Securities Debt Maturities Next Rolling Twelve Months Fair Value
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
0 USD
CY2020Q4 arr Trading Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
TradingSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
0 USD
CY2021Q4 arr Trading Securities Debt Maturities Rolling Year Twoand Three Fair Value
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeFairValue
5323000 USD
CY2021Q4 arr Trading Securities Debt Maturities Rolling Year Twoand Three Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeAmortizedCostBasis
5365000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Twoand Three Fair Value
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeFairValue
649425000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Twoand Three Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearTwoandThreeAmortizedCostBasis
650328000 USD
CY2021Q4 arr Trading Securities Debt Maturities Rolling Year Fourand Five Fair Value
TradingSecuritiesDebtMaturitiesRollingYearFourandFiveFairValue
472774000 USD
CY2021Q4 arr Trading Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
475600000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Fourand Five Fair Value
TradingSecuritiesDebtMaturitiesRollingYearFourandFiveFairValue
1522509000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling Year Four Through Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingYearFourThroughFiveAmortizedCostBasis
1506035000 USD
CY2021Q4 arr Trading Securities Debt Maturities Rolling After Year Five Fair Value
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
2639439000 USD
CY2021Q4 arr Trading Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
2690243000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling After Year Five Fair Value
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveFairValue
1035486000 USD
CY2020Q4 arr Trading Securities Debt Maturities Rolling After Year Five Amortized Cost Basis
TradingSecuritiesDebtMaturitiesRollingAfterYearFiveAmortizedCostBasis
1030366000 USD
CY2021Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
3217509000 USD
CY2021Q4 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
3271186000 USD
CY2020Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
3207420000 USD
CY2020Q4 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
3186729000 USD
CY2021Q4 arr Repurchase Agreements Numberof Counterpartieswith Master Repurchase Agreements
RepurchaseAgreementsNumberofCounterpartieswithMasterRepurchaseAgreements
34 counterparty
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
3948037000 USD
CY2021Q4 arr Repurchase Agreements Number Of Counterpartieswith Outstanding Borrowings
RepurchaseAgreementsNumberOfCounterpartieswithOutstandingBorrowings
18 counterparty
CY2020Q4 arr Repurchase Agreements Numberof Counterpartieswith Master Repurchase Agreements
RepurchaseAgreementsNumberofCounterpartieswithMasterRepurchaseAgreements
33 counterparty
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
4536065000 USD
CY2020Q4 arr Repurchase Agreements Number Of Counterpartieswith Outstanding Borrowings
RepurchaseAgreementsNumberOfCounterpartieswithOutstandingBorrowings
18 counterparty
CY2021 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
The following table represents the contractual repricing regarding our repurchase agreements to finance MBS purchases at December 31, 2021 and December 31, 2020. No amounts below are subject to offsetting. Our repurchase agreements require excess collateral, known as a “haircut.” At December 31, 2021, the average haircut <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">percentage was 3.45% compared to 3.13% at December 31, 2020. The haircut for our repurchase agreements vary by counterparty and therefore, the changes in the average haircut percentage will vary with the changes in our counterparty repurchase agreement balances. </span></div><div style="margin-bottom:10pt;text-align:center;text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:48.258%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.601%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.162%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.601%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:15.406%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.601%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.371%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted Average Contractual Rate</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted Average Maturity in days</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#e6eeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Agency Securities</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">≤ 30 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,565,743 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.13 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</span></td></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&gt; 30 days to ≤ 60 days</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="2" style="background-color:#e6eeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">647,584 </span></td><td style="background-color:#e6eeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="2" style="background-color:#e6eeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.13 </span></td><td style="background-color:#e6eeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&gt; 60 days to ≤ 90 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">635,710 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.11 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total or Weighted Average</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="2" style="background-color:#e6eeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,849,037 </span></td><td style="background-color:#e6eeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="2" style="background-color:#e6eeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.13 </span></td><td style="background-color:#e6eeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:3pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">U.S. Treasury Securities</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">≤ 30 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,000 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.12 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total or Weighted Average</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td style="background-color:#e6eeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6eeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,948,037 </span></td><td style="background-color:#e6eeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="2" style="background-color:#e6eeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.12 </span></td><td style="background-color:#e6eeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29</span></td></tr><tr style="height:8pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#1c4787;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2020</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Agency Securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">≤ 30 days</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td style="background-color:#e6eeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6eeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,618,255 </span></td><td style="background-color:#e6eeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="2" style="background-color:#e6eeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.23 </span></td><td style="background-color:#e6eeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&gt; 30 days to ≤ 60 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">917,810 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.23 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45</span></td></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total or Weighted Average</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td style="background-color:#e6eeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#e6eeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,536,065 </span></td><td style="background-color:#e6eeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="2" style="background-color:#e6eeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.23 </span></td><td style="background-color:#e6eeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">%</span></td><td colspan="3" style="background-color:#e6eeff;padding:0 1pt"/><td colspan="3" style="background-color:#e6eeff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21</span></td></tr></table></div>
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
3948037000 USD
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0012
CY2021 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P29D
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Carrying Amounts
AssetsSoldUnderAgreementsToRepurchaseCarryingAmounts
4536065000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0023
CY2020 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P21D
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
199073000 USD
CY2021Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
10900000 USD
CY2021Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
157493000 USD
CY2021Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
30680000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
54686000 USD
CY2020Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
1217000 USD
CY2020Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
41715000 USD
CY2020Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
11754000 USD
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
10900000 USD
CY2021Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
10900000 USD
CY2021Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1217000 USD
CY2020Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
1217000 USD
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2020Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
52181000 USD
CY2020 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-284153000 USD
CY2019 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-350123000 USD
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
7210000000 USD
CY2021 us-gaap Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
P77M
CY2021Q4 arr Derivative Weighted Average Interest Rate
DerivativeWeightedAverageInterestRate
0.0063
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
5337000000 USD
CY2020 us-gaap Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
P58M
CY2020Q4 arr Derivative Weighted Average Interest Rate
DerivativeWeightedAverageInterestRate
0.0024
CY2021Q4 arr Related Party Transaction Management Agreement Gross Equity Raised
RelatedPartyTransactionManagementAgreementGrossEquityRaised
3313937000 USD
CY2020Q4 arr Related Party Transaction Management Agreement Gross Equity Raised
RelatedPartyTransactionManagementAgreementGrossEquityRaised
2944169000 USD
CY2019Q4 arr Related Party Transaction Management Agreement Gross Equity Raised
RelatedPartyTransactionManagementAgreementGrossEquityRaised
2965163000 USD
CY2021Q1 arr Fee Waiver Adjustment First Quarter
FeeWaiverAdjustmentFirstQuarter
2400000 USD
CY2021Q2 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
800000 USD
CY2021Q2 arr Fee Waiver Adjustment First Quarter
FeeWaiverAdjustmentFirstQuarter
2100000 USD
CY2021Q3 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
700000 USD
CY2021Q3 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
700000 USD
CY2021Q4 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
650000 USD
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 arr Preferred Stock Undesignated Shares Authorized
PreferredStockUndesignatedSharesAuthorized
31617000 shares
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
94152000 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
94152000 shares
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
65290000 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
65290000 shares
CY2021Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
8210000 shares
CY2020Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
8210000 shares
CY2021 us-gaap Net Income Loss
NetIncomeLoss
15363000 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-215112000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-249905000 USD
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11473000 USD
CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
9787000 USD
CY2019 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
15634000 USD
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3890000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-224899000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-265539000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79490000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63070000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57833000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
823000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80313000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63070000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57833000 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
496000 shares
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
247000 shares
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-56695000 USD
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-391554000 USD
CY2019 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
149438000 USD
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11473000 USD
CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
9787000 USD
CY2019 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
15634000 USD
CY2021 arr Comprehensive Income Loss Availableto Common Stockholders
ComprehensiveIncomeLossAvailabletoCommonStockholders
-68168000 USD
CY2020 arr Comprehensive Income Loss Availableto Common Stockholders
ComprehensiveIncomeLossAvailabletoCommonStockholders
-401341000 USD
CY2019 arr Comprehensive Income Loss Availableto Common Stockholders
ComprehensiveIncomeLossAvailabletoCommonStockholders
133804000 USD
CY2021 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Basic
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareBasic
-0.86
CY2020 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Basic
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareBasic
-6.36
CY2019 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Basic
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareBasic
2.31
CY2021 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Diluted
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareDiluted
-0.86
CY2020 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Diluted
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareDiluted
-6.36
CY2019 arr Comprehensive Income Loss Availableto Common Stockholders Per Share Diluted
ComprehensiveIncomeLossAvailabletoCommonStockholdersPerShareDiluted
2.30
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79490000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63070000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57833000 shares
CY2021 arr Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Comprehensive Income Loss
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsComprehensiveIncomeLoss
0 shares
CY2020 arr Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Comprehensive Income Loss
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsComprehensiveIncomeLoss
0 shares
CY2019 arr Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Comprehensive Income Loss
IncrementalCommonSharesAttributabletoDilutiveEffectofSharebasedPaymentArrangementsComprehensiveIncomeLoss
247000 shares
CY2021 arr Weighted Average Numberof Shares Outstanding Diluted Comprehensive Income Loss
WeightedAverageNumberofSharesOutstandingDilutedComprehensiveIncomeLoss
79490000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
823000 shares
CY2020 arr Weighted Average Numberof Shares Outstanding Diluted Comprehensive Income Loss
WeightedAverageNumberofSharesOutstandingDilutedComprehensiveIncomeLoss
63070000 shares
CY2019 arr Weighted Average Numberof Shares Outstanding Diluted Comprehensive Income Loss
WeightedAverageNumberofSharesOutstandingDilutedComprehensiveIncomeLoss
58080000 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
496000 shares
CY2021 us-gaap Net Income Loss
NetIncomeLoss
15363000 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-215112000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-249905000 USD
CY2021 arr Effective Taxable Income Reconciliation Reversalof Income
EffectiveTaxableIncomeReconciliationReversalofIncome
-37000 USD
CY2020 arr Effective Taxable Income Reconciliation Reversalof Income
EffectiveTaxableIncomeReconciliationReversalofIncome
51000 USD
CY2019 arr Effective Taxable Income Reconciliation Reversalof Income
EffectiveTaxableIncomeReconciliationReversalofIncome
147000 USD
CY2021 arr Effective Taxable Income Reconciliation Premium Amortization Expense
EffectiveTaxableIncomeReconciliationPremiumAmortizationExpense
148000 USD
CY2020 arr Effective Taxable Income Reconciliation Premium Amortization Expense
EffectiveTaxableIncomeReconciliationPremiumAmortizationExpense
261000 USD
CY2019 arr Effective Taxable Income Reconciliation Premium Amortization Expense
EffectiveTaxableIncomeReconciliationPremiumAmortizationExpense
0 USD
CY2021 arr Effective Taxable Income Reconciliation Trading Securities Agency
EffectiveTaxableIncomeReconciliationTradingSecuritiesAgency
77145000 USD
CY2020 arr Effective Taxable Income Reconciliation Trading Securities Agency
EffectiveTaxableIncomeReconciliationTradingSecuritiesAgency
-19557000 USD
CY2019 arr Effective Taxable Income Reconciliation Trading Securities Agency
EffectiveTaxableIncomeReconciliationTradingSecuritiesAgency
0 USD
CY2021 arr Effective Income Tax Rate Reconciliation Net Bookto Tax Differenceson Credit Riskand Non Agency Securities
EffectiveIncomeTaxRateReconciliationNetBooktoTaxDifferencesonCreditRiskandNonAgencySecurities
0 USD
CY2020 arr Effective Income Tax Rate Reconciliation Net Bookto Tax Differenceson Credit Riskand Non Agency Securities
EffectiveIncomeTaxRateReconciliationNetBooktoTaxDifferencesonCreditRiskandNonAgencySecurities
188075000 USD
CY2019 arr Effective Income Tax Rate Reconciliation Net Bookto Tax Differenceson Credit Riskand Non Agency Securities
EffectiveIncomeTaxRateReconciliationNetBooktoTaxDifferencesonCreditRiskandNonAgencySecurities
24459000 USD
CY2021 arr Effective Taxable Income Reconciliation Trading Securities Interest Only
EffectiveTaxableIncomeReconciliationTradingSecuritiesInterestOnly
0 USD
CY2020 arr Effective Taxable Income Reconciliation Trading Securities Interest Only
EffectiveTaxableIncomeReconciliationTradingSecuritiesInterestOnly
0 USD
CY2019 arr Effective Taxable Income Reconciliation Trading Securities Interest Only
EffectiveTaxableIncomeReconciliationTradingSecuritiesInterestOnly
85000 USD
CY2021 arr Effective Taxable Income Reconciliation Trading Securities Us Treasury Securities
EffectiveTaxableIncomeReconciliationTradingSecuritiesUSTreasurySecurities
9391000 USD
CY2020 arr Effective Taxable Income Reconciliation Trading Securities Us Treasury Securities
EffectiveTaxableIncomeReconciliationTradingSecuritiesUSTreasurySecurities
-21357000 USD
CY2019 arr Effective Taxable Income Reconciliation Trading Securities Us Treasury Securities
EffectiveTaxableIncomeReconciliationTradingSecuritiesUSTreasurySecurities
-2024000 USD
CY2021 arr Effective Taxable Income Reconciliation Changes In Derivatives
EffectiveTaxableIncomeReconciliationChangesInDerivatives
-77300000 USD
CY2020 arr Effective Taxable Income Reconciliation Changes In Derivatives
EffectiveTaxableIncomeReconciliationChangesInDerivatives
268159000 USD
CY2019 arr Effective Taxable Income Reconciliation Changes In Derivatives
EffectiveTaxableIncomeReconciliationChangesInDerivatives
375493000 USD
CY2021 arr Effective Taxable Income Reconciliation Gains Losseson Availableforsale Securities
EffectiveTaxableIncomeReconciliationGainsLossesonAvailableforsaleSecurities
10952000 USD
CY2020 arr Effective Taxable Income Reconciliation Gains Losseson Availableforsale Securities
EffectiveTaxableIncomeReconciliationGainsLossesonAvailableforsaleSecurities
143877000 USD
CY2019 arr Effective Taxable Income Reconciliation Gains Losseson Availableforsale Securities
EffectiveTaxableIncomeReconciliationGainsLossesonAvailableforsaleSecurities
9611000 USD
CY2021Q4 arr Aggregate Tax Basis Stockholders Equityin Excessof Assetsand Liabilities Per Share
AggregateTaxBasisStockholdersEquityinExcessofAssetsandLiabilitiesPerShare
2.47
CY2021 arr Effective Taxable Income Reconciliation Credit Loss Expense Amount
EffectiveTaxableIncomeReconciliationCreditLossExpenseAmount
0 USD
CY2020 arr Effective Taxable Income Reconciliation Credit Loss Expense Amount
EffectiveTaxableIncomeReconciliationCreditLossExpenseAmount
-1012000 USD
CY2019 arr Effective Taxable Income Reconciliation Credit Loss Expense Amount
EffectiveTaxableIncomeReconciliationCreditLossExpenseAmount
0 USD
CY2021 arr Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
EffectiveTaxableIncomeReconciliationAmortizationofFinancingCostsandDiscounts
-163837000 USD
CY2020 arr Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
EffectiveTaxableIncomeReconciliationAmortizationofFinancingCostsandDiscounts
-152092000 USD
CY2019 arr Effective Taxable Income Reconciliation Amortizationof Financing Costsand Discounts
EffectiveTaxableIncomeReconciliationAmortizationofFinancingCostsandDiscounts
-69302000 USD
CY2021 arr Effective Taxable Income Reconciliation Other Adjustments
EffectiveTaxableIncomeReconciliationOtherAdjustments
1830000 USD
CY2020 arr Effective Taxable Income Reconciliation Other Adjustments
EffectiveTaxableIncomeReconciliationOtherAdjustments
1544000 USD
CY2019 arr Effective Taxable Income Reconciliation Other Adjustments
EffectiveTaxableIncomeReconciliationOtherAdjustments
18000 USD
CY2021 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
-148471000 USD
CY2020 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
-92142000 USD
CY2019 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
69441000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
91961000 USD
CY2021Q4 arr Aggregate Tax Basis Stockholders Equityin Excessof Assetsand Liabilities
AggregateTaxBasisStockholdersEquityinExcessofAssetsandLiabilities
233011000 USD
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
94152000 shares
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
108103000 USD
CY2020 us-gaap Payments Of Dividends
PaymentsOfDividends
86648000 USD
CY2019 us-gaap Payments Of Dividends
PaymentsOfDividends
140486000 USD
CY2021 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
-148471000 USD
CY2020 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
-92142000 USD
CY2019 arr Estimated Reit Taxable Income
EstimatedREITTaxableIncome
69441000 USD
CY2021 arr Dividends Percentof Dividendsthat Represent Nontaxable Returnof Capital
DividendsPercentofDividendsthatRepresentNontaxableReturnofCapital
1.000
CY2020 arr Dividends Percentof Dividendsthat Represent Nontaxable Returnof Capital
DividendsPercentofDividendsthatRepresentNontaxableReturnofCapital
1.000
CY2019 arr Dividends Percentof Dividendsthat Represent Nontaxable Returnof Capital
DividendsPercentofDividendsthatRepresentNontaxableReturnofCapital
0.568
CY2021Q1 arr Fee Waiver Adjustment First Quarter
FeeWaiverAdjustmentFirstQuarter
2400000 USD
CY2021Q2 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
800000 USD
CY2021Q2 arr Fee Waiver Adjustment First Quarter
FeeWaiverAdjustmentFirstQuarter
2100000 USD
CY2021Q3 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
700000 USD
CY2021Q3 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
700000 USD
CY2021Q4 arr Fee Waiver Adjustment Every Month Thereafter
FeeWaiverAdjustmentEveryMonthThereafter
650000 USD
CY2019Q1 arr Numberof Loan Agreementswith Related Party
NumberofLoanAgreementswithRelatedParty
1 loan

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