2013 Q4 Form 10-K Financial Statement

#000115752313005918 Filed on December 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2011 Q4 2010
Revenue $36.80M $220.1M $593.4M
YoY Change -72.46% 1034.54% 106.26%
Cost Of Revenue $27.90M $43.50M $187.4M
YoY Change -37.3% -72.59% 208.22%
Gross Profit $8.900M $176.6M $406.1M
YoY Change -90.0% -226.78% 78.98%
Gross Profit Margin 24.18% 80.24% 68.44%
Selling, General & Admin $3.100M $2.100M $6.000M
YoY Change -35.42% 31.25% 46.34%
% of Gross Profit 34.83% 1.19% 1.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.200M $6.000M $13.20M
YoY Change -21.43% -130.61% 85.92%
Operating Profit $6.700M $170.6M $392.9M
YoY Change -92.23% -242.52% 78.75%
Interest Expense $21.49M $30.70M $7.749M
YoY Change -36.57% -17.16% -21.5%
% of Operating Profit 320.67% 17.99% 1.97%
Other Income/Expense, Net
YoY Change
Pretax Income $72.30M $42.70M $249.2M
YoY Change -8.13% -120.28% 8.0%
Income Tax $0.00 $0.00 $756.0K
% Of Pretax Income 0.0% 0.0% 0.3%
Net Earnings $72.31M $42.75M $248.4M
YoY Change -8.1% -65.01% 7.68%
Net Earnings / Revenue 196.5% 19.42% 41.86%
Basic Earnings Per Share $0.30
Diluted Earnings Per Share $351.8K $207.8K $0.30
COMMON SHARES
Basic Shares Outstanding 1.028B shares 821.7M shares
Diluted Shares Outstanding 822.6M shares

Balance Sheet

Concept 2013 Q4 2011 Q4 2010
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.00M $206.0M $7.000M
YoY Change -87.44% 2842.86% -70.83%
Cash & Equivalents $77.63M $206.3M $7.000M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $254.0M
Other Receivables $33.00M
Total Short-Term Assets $365.0M $255.0M $56.00M
YoY Change -44.7% 355.36% -1.75%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.772B $7.233B $7.663B
YoY Change 0.07% -5.61% 87.41%
Other Assets
YoY Change
Total Long-Term Assets $6.571B $7.492B $8.013B
YoY Change -7.22% -6.5% 75.69%
TOTAL ASSETS
Total Short-Term Assets $365.0M $255.0M $56.00M
Total Long-Term Assets $6.571B $7.492B $8.013B
Total Assets $6.936B $7.747B $8.069B
YoY Change -10.42% -3.99% 74.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.000M $2.000M $128.0M
YoY Change 100.0% -98.44%
Accrued Expenses $7.000M $11.00M $12.00M
YoY Change -36.36% -8.33% 300.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.659B $2.673B $1.809B
YoY Change 8.57% 47.76% -8.41%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.972B $2.812B $2.136B
YoY Change 20.24% 31.65% 1.71%
LONG-TERM LIABILITIES
Long-Term Debt $1.604B $1.843B $2.245B
YoY Change -35.99% -17.91% 475.64%
Other Long-Term Liabilities $30.00M $44.00M $10.00M
YoY Change -44.44% 340.0%
Total Long-Term Liabilities $1.634B $1.887B $2.255B
YoY Change -36.17% -16.32% 478.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.972B $2.812B $2.136B
Total Long-Term Liabilities $1.634B $1.887B $2.255B
Total Liabilities $3.605B $4.700B $4.391B
YoY Change -14.18% 7.03% 76.2%
SHAREHOLDERS EQUITY
Retained Earnings -$1.275B -$999.8M
YoY Change 20.01% 62.92%
Common Stock $3.616B $3.614B
YoY Change 0.02% 0.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.332B $3.048B $3.679B
YoY Change
Total Liabilities & Shareholders Equity $6.936B $7.747B $8.069B
YoY Change -10.42% -3.99% 74.73%

Cashflow Statement

Concept 2013 Q4 2011 Q4 2010
OPERATING ACTIVITIES
Net Income $72.31M $42.75M $248.4M
YoY Change -8.1% -65.01% 7.68%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $85.50M $107.0M $322.0M
YoY Change 35.28% 22.01% 90.87%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $8.700M $1.865B -$1.585B
YoY Change -91.98% -373.47% -43.6%
Cash From Investing Activities $8.700M $1.865B -$1.585B
YoY Change -91.98% -373.47% -43.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.314B
YoY Change -4.32%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -142.0M -1.775B 1.246B
YoY Change 1532.18% -401.22% -52.78%
NET CHANGE
Cash From Operating Activities 85.50M 107.0M 322.0M
Cash From Investing Activities 8.700M 1.865B -1.585B
Cash From Financing Activities -142.0M -1.775B 1.246B
Net Change In Cash -47.80M 196.4M -17.10M
YoY Change -129.33% -4191.67% 434.38%
FREE CASH FLOW
Cash From Operating Activities $85.50M $107.0M $322.0M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
-54353000
CY2011 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-217000
CY2011 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
570166000
CY2011 us-gaap Dilutive Securities
DilutiveSecurities
CY2011 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
672000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1026365197 shares
CY2011 us-gaap Share Based Goods And Nonemployee Services Transaction Expense
ShareBasedGoodsAndNonemployeeServicesTransactionExpense
713000
CY2011 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
357105000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
137935000
CY2011 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-134467000
CY2011 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
60705000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-114112000
CY2011 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
137329000
CY2011 us-gaap Net Income Loss
NetIncomeLoss
137329000
CY2011 us-gaap Interest Paid Net
InterestPaidNet
120688000
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
606000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-549422000
CY2011 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
80181000
CY2011 us-gaap Interest Expense
InterestExpense
11941000
CY2011 cim Dividends Declared And Not Paid
DividendsDeclaredAndNotPaid
112937000
CY2011 cim Interest Income And Other Net Investment Gains Losses
InterestIncomeAndOtherNetInvestmentGainsLosses
202462000
CY2011 cim Proceeds From Securities Sold Under Agreements To Repurchase Financing Activities
ProceedsFromSecuritiesSoldUnderAgreementsToRepurchaseFinancingActivities
15247543000
CY2011 cim Principal Payments On Securities Sold Under Agreements To Repurchase Financing Activities
PrincipalPaymentsOnSecuritiesSoldUnderAgreementsToRepurchaseFinancingActivities
14383351000
CY2011 cim Proceeds From Direct Purchase And Dividend Reinvestment Net
ProceedsFromDirectPurchaseAndDividendReinvestmentNet
1120000
CY2011 cim Other Gains Losses
OtherGainsLosses
-10599000
CY2011 cim Investment Management Fees Affiliate
InvestmentManagementFeesAffiliate
51969000
CY2011 cim Net Proceeds From Direct Purchase And Dividend Reinvestment
NetProceedsFromDirectPurchaseAndDividendReinvestment
1120000
CY2011 cim Increase Decrease In Investment Management Fees Payable To Affiliate
IncreaseDecreaseInInvestmentManagementFeesPayableToAffiliate
536000
CY2011 cim Other Expenses Not Reflected In Net Investment Income Loss
OtherExpensesNotReflectedInNetInvestmentIncomeLoss
64527000
CY2011 cim Repayments Of Non Retained Secured Debt
RepaymentsOfNonRetainedSecuredDebt
645603000
CY2011 cim Common Shares Issued Under Direct Purchase And Dividend Reinvestment Plan
CommonSharesIssuedUnderDirectPurchaseAndDividendReinvestmentPlan
278000 shares
CY2011 cim Common Stock Equity Distribution Agreement Shares Sold In Period
CommonStockEquityDistributionAgreementSharesSoldInPeriod
0 shares
CY2011 cim Gains Losses On Derivative Instruments Not Designated As Hedging Instruments
GainsLossesOnDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-50407000
CY2011 cim Interest Received During Period
InterestReceivedDuringPeriod
640199000
CY2011 cim Management Fees Paid To Related Party
ManagementFeesPaidToRelatedParty
51383000
CY2011 cim Realized Gains Losses On Derivative Instruments Not Designated As Hedging Instruments
RealizedGainsLossesOnDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-15929000
CY2011 cim Proceeds From Issuance Of Non Retained Secured Debt In Resecuritizations
ProceedsFromIssuanceOfNonRetainedSecuredDebtInResecuritizations
310972000
CY2011 cim Investment Management Fees Affiliate Net
InvestmentManagementFeesAffiliateNet
51969000
CY2012 dei Trading Symbol
TradingSymbol
CIM
CY2012 dei Entity Registrant Name
EntityRegistrantName
CHIMERA INVESTMENT CORP
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001409493
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-517000
CY2012 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
9488000
CY2012 us-gaap Impairment Of Investments
ImpairmentOfInvestments
47632000
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
884250000
CY2012 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Before Tax Including Portion Attributable To Noncontrolling Interest
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossBeforeTaxIncludingPortionAttributableToNoncontrollingInterest
84618000
CY2012 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
699000
CY2012 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
85166000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
334915000
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2012 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"> At December 31, 2012 and 2011, the repurchase agreements collateralized by Agency RMBS had the following remaining maturities.</font></font></div> </div> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#xA0;</div> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <div align="center"> <table style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0" width="65%"> <tr> <td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" width="16%" colspan="2"> <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31, 2012</font></div> </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center" valign="bottom" width="16%" colspan="2"> <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31, 2011</font></div> </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr> <td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: center" valign="bottom" width="16%" colspan="6"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(dollars in thousands)&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="bottom" width="64%" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Overnight</font></div> </td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> $</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> $</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="64%" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-29 days</font></div> </td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">732,809</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,368,945</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="bottom" width="64%" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">30 to 59 days</font></div> </td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">325,915</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">836,007</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="64%" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">60 to 89 days</font></div> </td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="bottom" width="64%" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">90 to 119 days</font></div> </td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">211,137</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"> &#xA0;</font></td> <td style="TEXT-ALIGN: right" valign="bottom" width="15%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">171,836</font></td> <td style="TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr bgcolor="white"> <td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="64%" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Greater than or equal to 120 days</font></div> </td> <td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">258,164</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid" valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right" valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">296,201</font></td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td style="BORDER-BOTTOM: black 4px double" valign="bottom" width="64%" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total</font></div> </td> <td style="BORDER-BOTTOM: black 4px double" valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td> <td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,528,025</font></td> <td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 4px double" valign="bottom" width="1%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> <td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td> <td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right" valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,672,989</font></td> <td style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left" valign="bottom" width="1%" nowrap="nowrap"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#xA0;</font></td> </tr> </table> </div> </div> </div>
CY2012 us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
The interest rates of these repurchase agreements are generally indexed to the one-month or the three-month LIBOR rate and re-price accordingly.
CY2012 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.38
CY2012 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
668222 shares
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
172089000
CY2012 us-gaap Nature Of Common Ownership Or Management Control Relationships
NatureOfCommonOwnershipOrManagementControlRelationships
FIDAC is a wholly-owned subsidiary of Annaly
CY2012 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
833000
CY2012 us-gaap Accretion Expense
AccretionExpense
6985000
CY2012 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
8546000
CY2012 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-9473000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
414854000
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Writedown Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForWritedownOfSecuritiesIncludedInNetIncomeNetOfTax
132250000
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13986000
CY2012 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
348000
CY2012 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
410712000
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1027499255 shares
CY2012 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
390206000
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
556483000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2012 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
368000
CY2012 us-gaap Shortterm Debt Average Outstanding Amount
ShorttermDebtAverageOutstandingAmount
2100000000
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
-85166000
CY2012 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-625000
CY2012 us-gaap Interest Income Expense Net
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462882000
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"> (p) Use of Estimates</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">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. Although the Company&#x2019;s estimates contemplate current conditions and how it expects them to change in the future, it is reasonably possible that actual conditions could be materially different than anticipated in those estimates, which could have a material adverse impact on the Company&#x2019;s results of operations and its financial condition. Management has made significant estimates in accounting for income recognition and OTTI on Agency and Non-Agency RMBS and IO RMBS (Note 3), valuation of Agency and Non-Agency RMBS (Notes 3 and 5), and interest rate swaps (Notes 5 and 9).&#xA0;&#xA0;Actual results could differ materially from those estimates.</font></div> </div>
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