$DX
DYNEX CAPITAL INC

2013 Q4 Form 10-K Financial Statement

#000082667514000014 Filed on March 04, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $28.60M $31.67M $33.89M
YoY Change -9.49% 10.82% 24.94%
Cost Of Revenue $8.400M $8.700M $11.40M
YoY Change -19.23% -8.42%
Gross Profit $20.20M $22.90M $22.40M
YoY Change -4.27% 19.9%
Gross Profit Margin 70.63% 72.32% 66.1%
Selling, General & Admin $1.800M $3.600M $3.800M
YoY Change -48.57% 16.13% 26.67%
% of Gross Profit 8.91% 15.72% 16.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.900M $2.900M $3.800M
YoY Change -47.22% -12.12% -65.45%
Operating Profit $18.30M $20.00M $18.60M
YoY Change 4.57% 26.58%
Interest Expense $3.300M $8.718M $11.45M
YoY Change 65.0% -7.98% 41.01%
% of Operating Profit 18.03% 43.59% 61.54%
Other Income/Expense, Net
YoY Change
Pretax Income $21.60M -$4.600M $31.50M
YoY Change 10.2% -123.96% 67.55%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $21.60M -$4.627M $31.53M
YoY Change 10.2% -124.14% 67.32%
Net Earnings / Revenue 75.52% -14.61% 93.05%
Basic Earnings Per Share $0.35 -$0.13 $0.54
Diluted Earnings Per Share $0.35 -$0.13 $0.54
COMMON SHARES
Basic Shares Outstanding 54.43M shares 54.90M shares 54.97M shares
Diluted Shares Outstanding 54.90M shares 54.97M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.30M $39.60M $29.30M
YoY Change 24.19% 14.12% -45.54%
Cash & Equivalents $69.33M $39.61M $29.34M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $34.70M $40.40M $47.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $104.0M $80.00M $76.50M
YoY Change 8.45% 40.85% 7.14%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $4.203B $4.627B
YoY Change -100.0% -2.63% 27.53%
Other Assets $13.40M $15.80M
YoY Change
Total Long-Term Assets $4.113B $4.240B $4.673B
YoY Change -1.7% -2.5% 27.75%
TOTAL ASSETS
Total Short-Term Assets $104.0M $80.00M $76.50M
Total Long-Term Assets $4.113B $4.240B $4.673B
Total Assets $4.217B $4.320B $4.749B
YoY Change -1.47% -1.94% 27.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $2.500M $2.400M $1.700M
YoY Change -13.79% 0.0% -15.0%
Deferred Revenue
YoY Change
Short-Term Debt $3.581B $3.675B $4.071B
YoY Change 0.47% 0.11% 30.83%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.610B $3.694B $4.091B
YoY Change 0.74% 0.11% 30.72%
LONG-TERM LIABILITIES
Long-Term Debt $12.90M $21.10M $24.60M
YoY Change -57.7% -32.59% -22.15%
Other Long-Term Liabilities $8.100M $23.50M $26.40M
YoY Change -83.54% -64.34% -38.46%
Total Long-Term Liabilities $21.00M $44.60M $51.00M
YoY Change -73.65% -54.12% -31.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.610B $3.694B $4.091B
Total Long-Term Liabilities $21.00M $44.60M $51.00M
Total Liabilities $3.631B $3.739B $4.142B
YoY Change -0.88% -1.28% 29.27%
SHAREHOLDERS EQUITY
Retained Earnings -$252.1M -$256.7M -$235.0M
YoY Change 0.44% 1.22% -8.24%
Common Stock $762.1M $762.4M $767.7M
YoY Change 0.31% 0.29% 1.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $585.9M $581.0M $607.2M
YoY Change
Total Liabilities & Shareholders Equity $4.217B $4.320B $4.749B
YoY Change -1.47% -1.94% 27.35%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $21.60M -$4.627M $31.53M
YoY Change 10.2% -124.14% 67.32%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $50.80M $56.00M $56.60M
YoY Change -2.87% 46.21% 64.06%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $96.90M $394.6M -$469.9M
YoY Change 2.76% -160.18% 8.67%
Cash From Investing Activities $96.90M $394.6M -$469.9M
YoY Change 2.76% -160.18% 8.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -117.9M -440.4M 398.6M
YoY Change -6.06% -173.61% -2.76%
NET CHANGE
Cash From Operating Activities 50.80M 56.00M 56.60M
Cash From Investing Activities 96.90M 394.6M -469.9M
Cash From Financing Activities -117.9M -440.4M 398.6M
Net Change In Cash 29.80M 10.20M -14.70M
YoY Change 41.23% -153.4% -222.5%
FREE CASH FLOW
Cash From Operating Activities $50.80M $56.00M $56.60M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2013 us-gaap Description Of Derivative Activity Volume
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The following table summarizes activity related to derivative instruments for the periods indicated:(amounts in thousands)Interest Rate Swaps Eurodollar FuturesNotional amount as of December 31, 2012:$1,462,000 $—Additions:380,000 20,250,000Settlements, terminations, or expirations:(1,052,000) (11,250,000)Notional amount as of December 31, 2013:(1)$790,000 $9,000,000(1)The Eurodollar futures notional amount as of December 31, 2013 represents the total notional of the 3-month contracts with expiration dates from 2016 to 2020. The maximum notional outstanding for any future 3-month period does not exceed $1,175,000.
CY2013 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2013, the FASB issued ASU 2013-10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivatives and Hedging (Topic 815), Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes(a consensus of the FASB Emerging Issues Task Force) </font><font style="font-family:inherit;font-size:10pt;">("ASU 2013-10")</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">. </font><font style="font-family:inherit;font-size:10pt;">The new guidance permits the use of the Federal Funds Effective Swap Rate as a benchmark interest rate for hedge accounting purposes and removes certain restrictions on being able to apply hedge accounting for similar hedges using different benchmark interest rates. ASU 2013-10 is effective prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013. The adoption of this ASU does not have an impact on our derivatives and will not have a material impact on the Company's consolidated financial statements.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2013, the FASB issued ASU 2013-08,&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Services - Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements</font><font style="font-family:inherit;font-size:10pt;">&#160;("ASU 2013-08"). In general, the amendments of this ASU: (i) revise the definition of an investment company; (ii) require an investment company to measure non-controlling ownership interests in other investment companies at fair value rather than using the equity method of accounting; and (iii) require information to be disclosed concerning the status of the entity and any financial support provided, or contractually required to be provided, by the investment company to its investees. ASU 2013-08 is effective for interim and annual periods that begin after December 15, 2013 and early application is prohibited. As the FASB has decided to retain the current U.S. GAAP scope exception from investment company accounting and financial reporting for real estate investment trusts, the adoption of this ASU will not have a material impact on the Company's consolidated financial statements</font></div></div>
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CY2013 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dynex Capital, Inc., ("Company&#8221;) was incorporated in the Commonwealth of Virginia on December 18, 1987 and commenced operations in February 1988. The Company primarily earns income from investing on a leveraged basis in mortgage-backed securities ("MBS") that are issued or guaranteed by the U.S. Government or U.S. Government sponsored agencies ("Agency MBS") and MBS issued by others ("non-Agency MBS"). </font></div></div>
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60167000 USD
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29442000 USD
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CY2011 us-gaap Net Income Loss Available To Common Stockholders Basic
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As a result of its common stock offering in February 2012, the Company incurred an "ownership change" under Section 382 of the Internal Revenue Code ("Section 382"). In general, if a company incurs an ownership change under Section 382, the company's ability to utilize an NOL carryforward to offset its taxable income after any required dividend distributions becomes limited to a certain amount per year. Due to the ownership change, the Company's ability to use its NOL is limited to an estimated $13,451 per year
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75377000 USD
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11408000 USD
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858000 USD
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675000 USD
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6685000 USD
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6054000 USD
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5101000 USD
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4635000 USD
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CY2011 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
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921000 USD
CY2011 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2012 us-gaap Payments Of Dividends
PaymentsOfDividends
59061000 USD
CY2013 us-gaap Payments Of Dividends
PaymentsOfDividends
69332000 USD
CY2011 us-gaap Payments Of Dividends
PaymentsOfDividends
40873000 USD
CY2011 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2012 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
825000 USD
CY2013 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2013 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
545000 USD
CY2012 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2011 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2012 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
2639909000 USD
CY2013 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1419060000 USD
CY2011 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1606819000 USD
CY2012Q4 us-gaap Pledged Financial Instruments Not Separately Reported Mortgage Related Securities Available For Sale Or Held For Investment
PledgedFinancialInstrumentsNotSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
3935504000 USD
CY2013Q4 us-gaap Pledged Financial Instruments Not Separately Reported Mortgage Related Securities Available For Sale Or Held For Investment
PledgedFinancialInstrumentsNotSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
3890066000 USD
CY2011 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2012 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2036000 USD
CY2013 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7902000 USD
CY2013Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2012Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
8677000 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
7648000 USD
CY2011 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
37556000 USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
123868000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7436000 USD
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
95282000 USD
CY2011 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
0 USD
CY2012 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
55407000 USD
CY2013 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
54251000 USD
CY2012 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
679635000 USD
CY2012Q4 us-gaap Principal Amount Outstanding On Loans Securitized
PrincipalAmountOutstandingOnLoansSecuritized
71913000 USD
CY2013 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain items in the prior years' consolidated financial statements have been reclassified to conform to the current year&#8217;s presentation.&#160;The Company&#8217;s consolidated balance sheet as of December 31, 2012 now presents its Agency and non-Agency mortgage-backed securities as "mortgage-backed securities, at fair value". The Company's consolidated statements of net income for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">year</font><font style="font-family:inherit;font-size:10pt;">s ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;"> and December 31, 2011 now present interest income from Agency and non-Agency mortgage-backed securities together as "interest income: mortgage-backed securities". In addition, changes in fair value and other activity related to the Company's derivative instruments have been reclassified from "fair value adjustments, net" to "loss on derivative instruments, net". As a result, the respective amounts on the Company's consolidated statements of cash flow for the </font><font style="font-family:inherit;font-size:10pt;">year</font><font style="font-family:inherit;font-size:10pt;">s ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;"> and December 31, 2011 have been changed to reflect this reclassification. These presentation changes have no effect on reported total assets, total liabilities, results of operations, or cash flow activities.</font></div></div>
CY2012 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
40830000 USD
CY2013 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
15828000 USD
CY2013 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
913210000 USD
CY2011 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
468401000 USD
CY2011 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-15296000 USD
CY2013 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-17840000 USD
CY2012 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-40626000 USD
CY2013 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
16209000 USD
CY2012 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
1470995000 USD
CY2011 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
859610000 USD
CY2012 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
231145000 USD
CY2013 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
358090000 USD
CY2011 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
184688000 USD
CY2012 us-gaap Profit Loss
ProfitLoss
74042000 USD
CY2013 us-gaap Profit Loss
ProfitLoss
68069000 USD
CY2011 us-gaap Profit Loss
ProfitLoss
39812000 USD
CY2013 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
261000 USD
CY2011 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
871000 USD
CY2012 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
192000 USD
CY2013 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
261000 USD
CY2011 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
871000 USD
CY2012 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
192000 USD
CY2013 us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.080
CY2013 us-gaap Repayments Of Debt
RepaymentsOfDebt
17839000 USD
CY2011 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
23669000 USD
CY2013 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2012 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2013Q4 us-gaap Repurchase Agreement Counterparty Amount At Risk
RepurchaseAgreementCounterpartyAmountAtRisk
91769000 USD
CY2012 us-gaap Repurchase Agreements Maturities
RepurchaseAgreementsMaturities
P67D
CY2013 us-gaap Repurchase Agreements Maturities
RepurchaseAgreementsMaturities
P114D
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13385000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-252059000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-250965000 USD
CY2013 us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Interest Income, Premium Amortization, and Discount Accretion.</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">Interest income on MBS is accrued based on the outstanding principal balance (or notional balance in the case of interest-only, or "IO", securities) and their contractual terms.&#160; Premiums and discounts on Agency MBS as well as any non-Agency MBS rated AA and higher at the time of purchase are amortized into interest income over the expected life of such securities using the effective yield method and adjustments to premium amortization are made for actual prepayment activity as well as changes in projected future cash flows in accordance with ASC Topic 310-20. The Company's projections of future cash flows are based on input and analysis received from external sources and internal models, and includes assumptions about the amount and timing of credit losses, loan prepayment rates, fluctuations in interest rates, and other factors. On at least a quarterly basis, the Company reviews and makes any necessary adjustments to its cash flow projections and updates the yield recognized on these assets.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has purchased non-Agency MBS rated less than 'AA' by at least one national rating agency at discounts to their par value, and management does not believe these discounts to be substantial. The Company records the discount accretion into income over the security's expected life, which reflects management's estimate of the security's projected cash flows in accordance with ASC Topic 325-40. Future changes in projected cash flows or differences arising between projected cash flows and actual cash flows received may result in a prospective change in the effective yield on those securities. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accrual of interest on MBS is discontinued when, in the opinion of management, it is probable that all amounts contractually due will not be collected, and in certain instances, as a result of an other-than-temporary impairment analysis ("OTTI", see discussion below). All interest accrued but not collected for investments that are placed on a non-accrual status or are charged-off is reversed against interest income.&#160;Interest on these investments is accounted for on the cash-basis or cost-recovery method until the affected investment or investments qualify for return to accrual status.&#160;Investments are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2013 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company has been able to extend the average term to maturity of its repurchase agreements due to discontinuing cash flow hedge accounting effective June 30, 2013. The following table provides a summary of the original maturities as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td width="72%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="11%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="11%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Original Maturity</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">December&#160;31, <br clear="none"/>2013</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">December&#160;31, <br clear="none"/>2012</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30 days or less</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:2px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">206,112</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:2px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:2px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">622,957</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:2px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31 to 60 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">492,145</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,263,105</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">61 to 90 days</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">665,020</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">298,660</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91 to 120 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">783,371</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,092,681</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">121 to 190 days</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,434,349</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">287,384</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,580,997</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,564,787</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>
CY2013Q4 us-gaap Secured Debt
SecuredDebt
12914000 USD
CY2012Q4 us-gaap Secured Debt
SecuredDebt
30504000 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
3564128000 USD
CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
3580754000 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral
0 USD
CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase Amount Offset Against Collateral
SecuritiesSoldUnderAgreementsToRepurchaseAmountOffsetAgainstCollateral
0 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 USD
CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 USD
CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
0 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
0 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
3564128000 USD
CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
3580754000 USD
CY2012Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
3564128000 USD
CY2013Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
3580754000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
1712000 USD
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
783000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
2314000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2500000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1550118 shares
CY2013 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
52385 shares
CY2013 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
515257 shares
CY2012 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
13480 shares
CY2014Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
428363000 shares
CY2012 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
241663 shares
CY2013 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
270158 shares
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
62014000 USD
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
179686000 USD
CY2011 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
95424000 USD
CY2011 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1198000 USD
CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
2379000 USD
CY2012 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1723000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
3453000 USD
CY2013 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
50000000 USD
CY2013 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
42145000 USD
CY2012 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
104000 shares
CY2013 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
872447 shares
CY2013 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
6933000 USD
CY2012 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
921000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
585876000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
616710000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
292357000 USD
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
371349000 USD
CY2012 us-gaap Trading Gains Losses
TradingGainsLosses
735000 USD
CY2011 us-gaap Trading Gains Losses
TradingGainsLosses
2149000 USD
CY2013 us-gaap Trading Gains Losses
TradingGainsLosses
-652000 USD
CY2012Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
27535000 USD
CY2013Q4 us-gaap Trading Securities Cost
TradingSecuritiesCost
26920000 USD
CY2012Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
30069000 USD
CY2013Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
28717000 USD
CY2013 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
-652000 USD
CY2012 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
735000 USD
CY2011 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
2149000 USD
CY2012Q4 us-gaap Transfers Accounted For As Secured Borrowings Associated Liabilities Carrying Amount
TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
3564128000 USD
CY2013Q4 us-gaap Transfers Accounted For As Secured Borrowings Associated Liabilities Carrying Amount
TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
3580754000 USD
CY2013Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-628000 USD
CY2012Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-651000 USD
CY2012 us-gaap Unrealized Gain On Securities
UnrealizedGainOnSecurities
735000 USD
CY2013 us-gaap Unrealized Loss On Securities
UnrealizedLossOnSecurities
652000 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The 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 the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenue and expenses during the reported period.&#160;&#160;Actual results could differ from those estimates.&#160;&#160;The most significant estimates used by management include but are not limited to fair value measurements of its investments, allowance for loan losses, other-than-temporary impairments, contingencies, and amortization of premiums and discounts. These items are discussed further below within this note to the consolidated financial statements.</font></div><div style="line-height:120%;text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div></div>
CY2011 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
799 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38580579 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54647643 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53146416 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54647643 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53146416 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38579780 shares
CY2013Q4 dx Amount Outstanding With Counterparty
AmountOutstandingWithCounterparty
371753000 USD
CY2012 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
127772000 USD
CY2011 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
26500000 USD
CY2013 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
-26160000 USD
CY2012Q4 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
14951000 USD
CY2012Q1 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
42655000 USD
CY2013Q4 dx Principal Payments Receivable
PrincipalPaymentsReceivable
12999000 USD
CY2013Q4 dx Stock Issued During Period Remaining Shares Available Dividend Reinvestment Plan
StockIssuedDuringPeriodRemainingSharesAvailableDividendReinvestmentPlan
2466898 shares
CY2013Q4 dx Weighted Average Interest Rate Amount Outstanding With Counterparty
WeightedAverageInterestRateAmountOutstandingWithCounterparty
0.0121
CY2012Q3 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
52737000 USD
CY2012Q2 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
17429000 USD
CY2011Q3 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
-6772000 USD
CY2011Q2 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
13910000 USD
CY2011Q1 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
6606000 USD
CY2011Q4 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
12756000 USD
CY2013Q2 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
-67215000 USD
CY2013Q1 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
27427000 USD
CY2013Q4 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
19813000 USD
CY2013Q3 dx Comprehensive Income To Common Shareholders
ComprehensiveIncomeToCommonShareholders
-6184000 USD
CY2013 dx Dedesignatedcashflowhedgeamortization
Dedesignatedcashflowhedgeamortization
0 USD
CY2013Q4 dx Dividend Reinvestment Plan Shares Authorized
DividendReinvestmentPlanSharesAuthorized
3000000 shares
CY2011 dx Estimated Rei Ttaxableincome
EstimatedREITtaxableincome
43988 USD
CY2013 dx Estimated Rei Ttaxableincome
EstimatedREITtaxableincome
71765 USD
CY2012 dx Estimated Rei Ttaxableincome
EstimatedREITtaxableincome
73962 USD
CY2012Q4 dx Investments Unamortized Premium Discount
InvestmentsUnamortizedPremiumDiscount
800080000 USD
CY2013Q4 dx Investments Unamortized Premium Discount
InvestmentsUnamortizedPremiumDiscount
758950000 USD
CY2013Q4 dx Number Of Counterparties Borrowing Availability
NumberOfCounterpartiesBorrowingAvailability
31 Agreements
CY2013Q4 dx Number Of Counterparties Borrowings Outstanding
NumberOfCounterpartiesBorrowingsOutstanding
22 Agreements
CY2012Q4 dx Principal Payments Receivable
PrincipalPaymentsReceivable
17008000 USD
CY2013Q4 dx Weightedaverageliferemainingnonrecoursedebt
Weightedaverageliferemainingnonrecoursedebt
3.1
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0000826675
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
54731135 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
518414092 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
DYNEX CAPITAL INC
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

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dx-20131231.xml Edgar Link completed
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