$EFC
Ellington Financial Inc. Stock $efc

$efc Overview Financials Valuation SEC Filings Company Website

2013 Q2 Form 10-Q Financial Statement

#000141134213000040 Filed on May 08, 2013

Income Statement

Concept	2013 Q2	2013 Q1	2012 Q1
Revenue	$20.34M	$18.38M	$36.83M
YoY Change	13.06%	-50.1%	125.12%
Cost Of Revenue	$281.0K	$264.0K	$213.0K
YoY Change	29.49%	23.94%	-94.15%
Gross Profit	$14.17M	$12.22M	$33.50M
YoY Change	16.24%	-63.52%	163.36%
Gross Profit Margin	69.67%	66.49%	90.96%
Selling, General & Admin	$2.000M	$1.650M	$1.450M
YoY Change	40.85%	13.79%	-9.94%
% of Gross Profit	14.11%	13.5%	4.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$8.167M	$7.813M	$4.773M
YoY Change	13.07%	63.69%	-9.1%
Operating Profit	$12.17M	$10.57M	$10.96M
YoY Change	37.93%	-3.57%	3.42%
Interest Expense	$2.582M	$2.142M	$1.832M
YoY Change	29.62%	16.92%	18.73%
% of Operating Profit	21.22%	20.27%	16.72%
Other Income/Expense, Net
YoY Change
Pretax Income	$11.71M	$40.75M	$32.06M
YoY Change	8.73%	27.11%	188.57%
Income Tax	$0.00	$0.00	$0.00
% Of Pretax Income	0.0%	0.0%	0.0%
Net Earnings	$11.60M	$40.34M	$32.06M
YoY Change	7.73%	25.83%	188.6%
Net Earnings / Revenue	57.03%	219.45%	87.04%
Basic Earnings Per Share	$0.49	$1.94	$1.90
Diluted Earnings Per Share	$0.49	$1.94	$1.90
COMMON SHARES
Basic Shares Outstanding	20.41M shares	20.40M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2013 Q2	2013 Q1	2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$201.8M	$64.80M	$51.50M
YoY Change	319.54%	25.83%	24.4%
Cash & Equivalents	$201.8M	$64.75M	$51.55M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$672.0M	$609.2M	$642.2M
Other Receivables	$6.600M	$5.500M	$6.200M
Total Short-Term Assets	$880.4M	$679.5M	$699.9M
YoY Change	31.97%	-2.91%	-30.37%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$1.752B	$1.579B	$1.239B
YoY Change	49.97%	27.38%	-8.32%
Other Assets
YoY Change
Total Long-Term Assets	$1.848B	$1.637B	$1.367B
YoY Change	45.23%	19.79%	-10.92%
TOTAL ASSETS
Total Short-Term Assets	$880.4M	$679.5M	$699.9M
Total Long-Term Assets	$1.848B	$1.637B	$1.367B
Total Assets	$2.728B	$2.317B	$2.067B
YoY Change	40.67%	12.1%	-18.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$166.4M	$154.3M	$136.2M
YoY Change	28.3%	13.29%	-71.94%
Accrued Expenses	$1.700M	$1.000M	$1.100M
YoY Change	112.5%	-9.09%	0.0%
Deferred Revenue
YoY Change
Short-Term Debt	$1.289B	$966.5M	$921.4M
YoY Change	45.72%	4.89%	2.43%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$1.461B	$1.126B	$927.0M
YoY Change	63.92%	21.45%	-33.35%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$627.5M	$668.2M	$607.2M
YoY Change	19.94%	10.05%	-19.33%
Total Long-Term Liabilities	$627.5M	$668.2M	$607.2M
YoY Change	19.94%	10.05%	-19.33%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.461B	$1.126B	$927.0M
Total Long-Term Liabilities	$627.5M	$668.2M	$607.2M
Total Liabilities	$2.091B	$1.796B	$1.670B
YoY Change	35.37%	7.53%	-22.19%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock	$624.1M	$506.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$633.2M	$515.8M	$396.3M
YoY Change
Total Liabilities & Shareholders Equity	$2.728B	$2.317B	$2.067B
YoY Change	40.67%	12.1%	-18.62%

Cashflow Statement

Concept	2013 Q2	2013 Q1	2012 Q1
OPERATING ACTIVITIES
Net Income	$11.60M	$40.34M	$32.06M
YoY Change	7.73%	25.83%	188.6%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$290.9M	-$26.54M	-$31.13M
YoY Change	-725.59%	-14.77%	-66.81%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid	$20.00M	$31.94M	$6.735M
YoY Change		374.22%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	427.9M	$32.21M	$19.94M
YoY Change	-957.52%	61.49%	-79.96%
NET CHANGE
Cash From Operating Activities	-290.9M	-$26.54M	-$31.13M
Cash From Investing Activities
Cash From Financing Activities	427.9M	$32.21M	$19.94M
Net Change In Cash	137.0M	$5.669M	-$11.19M
YoY Change	-4129.41%	-150.66%	-296.33%
FREE CASH FLOW
Cash From Operating Activities	-$290.9M	-$26.54M	-$31.13M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2012Q4	us-gaap	Assets Assets	2152115000	USD
CY2012Q4	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	1995000	USD
CY2013Q1	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	1929000	USD
CY2012Q1	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	2346000	USD
CY2013Q1	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	4596000	USD
CY2012Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	28000	USD
CY2013Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	42000	USD
CY2012Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	28000	USD
CY2013Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	42000	USD
CY2013Q1	us-gaap	Assets Assets	2316674000	USD
CY2012Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	59084000	USD
CY2013Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	64753000	USD
CY2012Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	51546000	USD
CY2011Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	62737000	USD
CY2013Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	5669000	USD
CY2012Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-11191000	USD
CY2013Q1	us-gaap	Common Stock No Par Value CommonStockNoParValue
CY2012Q4	us-gaap	Common Stock No Par Value CommonStockNoParValue
CY2013Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	25.28
CY2012Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	24.86
CY2011Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	22.55
CY2012Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	24.09
CY2013Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2012Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2012Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	20370469	shares
CY2013Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	20403723	shares
CY2013Q1	us-gaap	Common Stock Value CommonStockValue	506825000	USD
CY2012Q4	us-gaap	Common Stock Value CommonStockValue	497373000	USD
CY2012Q1	us-gaap	Cost Of Services CostOfServices	213000	USD
CY2013Q1	us-gaap	Cost Of Services CostOfServices	264000	USD
CY2013Q1	us-gaap	Custody Fees CustodyFees	318000	USD
CY2012Q1	us-gaap	Custody Fees CustodyFees	304000	USD
CY2013Q1	us-gaap	Deposits Assets DepositsAssets	21977000	USD
CY2012Q4	us-gaap	Deposits Assets DepositsAssets	22744000	USD
CY2012Q4	us-gaap	Derivative Assets DerivativeAssets	48504000	USD
CY2013Q1	us-gaap	Derivative Assets DerivativeAssets	36250000	USD
CY2013Q1	us-gaap	Derivative Fair Value Of Derivative Net DerivativeFairValueOfDerivativeNet	17760000	USD
CY2012Q4	us-gaap	Derivative Fair Value Of Derivative Net DerivativeFairValueOfDerivativeNet	33292000	USD
CY2012Q4	us-gaap	Derivative Liabilities DerivativeLiabilities	15212000	USD
CY2013Q1	us-gaap	Derivative Liabilities DerivativeLiabilities	18490000	USD
CY2012Q1	us-gaap	Dividends Dividends	6735000	USD
CY2013Q1	us-gaap	Dividends Dividends	31939000	USD
CY2013Q1	us-gaap	Dividends Common Stock DividendsCommonStock	31013000	USD
CY2012Q1	us-gaap	Dividends Common Stock DividendsCommonStock	6579000	USD
CY2013Q1	us-gaap	Dividends Share Based Compensation DividendsShareBasedCompensation	604000	USD
CY2012Q1	us-gaap	Dividends Share Based Compensation DividendsShareBasedCompensation	156000	USD
CY2013Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.94
CY2012Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.90
CY2012Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	1.90
CY2013Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	1.94
CY2012Q1	us-gaap	Earnings Per Share Basic Distributed EarningsPerShareBasicDistributed	0.40
CY2013Q1	us-gaap	Earnings Per Share Basic Distributed EarningsPerShareBasicDistributed	1.52
CY2012Q1	us-gaap	Earnings Per Share Basic Undistributed EarningsPerShareBasicUndistributed	1.50
CY2013Q1	us-gaap	Earnings Per Share Basic Undistributed EarningsPerShareBasicUndistributed	0.42
CY2013Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.94
CY2012Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.90
CY2013Q1	us-gaap	Earnings Per Share Diluted Distributed EarningsPerShareDilutedDistributed	1.52
CY2012Q1	us-gaap	Earnings Per Share Diluted Distributed EarningsPerShareDilutedDistributed	0.40
CY2012Q1	us-gaap	Earnings Per Share Diluted Undistributed EarningsPerShareDilutedUndistributed	1.50
CY2013Q1	us-gaap	Earnings Per Share Diluted Undistributed EarningsPerShareDilutedUndistributed	0.42
CY2012Q4	us-gaap	Financial Instruments Sold Not Yet Purchased At Fair Value FinancialInstrumentsSoldNotYetPurchasedAtFairValue	622301000	USD
CY2013Q1	us-gaap	Financial Instruments Sold Not Yet Purchased At Fair Value FinancialInstrumentsSoldNotYetPurchasedAtFairValue	649756000	USD
CY2012Q1	us-gaap	General Insurance Expense GeneralInsuranceExpense	177000	USD
CY2013Q1	us-gaap	General Insurance Expense GeneralInsuranceExpense	180000	USD
CY2013Q1	us-gaap	Incentive Fee Description IncentiveFeeDescription	The Manager is entitled to receive a quarterly incentive fee equal to the positive excess, if any, of (i) the product of (A) 25% and (B) the excess of (1) Adjusted Net Income (described below) for the Incentive Calculation Period (which means such fiscal quarter and the immediately preceding three fiscal quarters) over (2) the sum of the Hurdle Amounts (described below) for the Incentive Calculation Period, over (ii) the sum of the incentive fees already paid or payable for each fiscal quarter in the Incentive Calculation Period preceding such fiscal quarter. For purposes of calculating the incentive fee, "Adjusted Net Income" for the Incentive Calculation Period means the net increase in equity from operations of the Operating Partnership, after all base management fees but before any incentive fees for such period, and excluding any non-cash equity compensation expenses for such period, as reduced by any Loss Carryforward (as described below) as of the end of the fiscal quarter preceding the Incentive Calculation Period. For purposes of calculating the incentive fee, the "Loss Carryforward" as of the end of any fiscal quarter is calculated by determining the excess, if any, of (1) the Loss Carryforward as of the end of the immediately preceding fiscal quarter over (2) our net increase in equity from operations (expressed as a positive number) or net decrease in equity from operations (expressed as a negative number) of the Operating Partnership for such fiscal quarter. As of March 31, 2013 there was no Loss Carryforward. For purposes of calculating the incentive fee, the "Hurdle Amount" means, with respect to any fiscal quarter, the product of (i) one-fourth of the greater of (A) 9% and (B) 3% plus the ten-year U.S. Treasury rate for such fiscal quarter, (ii) the sum of (A) the weighted average gross proceeds per share of all common share and OP unit issuances since inception of the Company and up to the end of such fiscal quarter, with each issuance weighted by both the number of shares and OP units issued in such issuance and the number of days that such issued shares and OP units were outstanding during such fiscal quarter, using a first-in first-out basis of accounting (i.e. attributing any share and OP unit repurchases to the earliest issuances first) and (B) the result obtained by dividing (I) retained earnings attributable to common shares and OP units at the beginning of such fiscal quarter by (II) the average number of common shares and OP units outstanding for each day during such fiscal quarter, (iii) the sum of the average number of common shares, LTIP Units, and OP units outstanding for each day during such fiscal quarter. For purposes of determining the Hurdle Amount, issuances of common shares and OP units (a) as equity incentive awards, (b) to the Manager as part of its base management fee or incentive fee and (c) to the Manager or any of its affiliates in privately negotiated transactions, are excluded from the calculation. The payment of the incentive fee will be in a combination of common shares and cash, provided that at least 10% of any quarterly payment will be made in common shares.
CY2012Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-323000	USD
CY2013Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-64000	USD
CY2012Q1	us-gaap	Increase Decrease In Accrued Interest Receivable Net IncreaseDecreaseInAccruedInterestReceivableNet	11000	USD
CY2013Q1	us-gaap	Increase Decrease In Accrued Interest Receivable Net IncreaseDecreaseInAccruedInterestReceivableNet	-212000	USD
CY2012Q1	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	-1801000	USD
CY2013Q1	us-gaap	Increase Decrease In Deposits Outstanding IncreaseDecreaseInDepositsOutstanding	-767000	USD
CY2012Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	828000	USD
CY2013Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	29000	USD
CY2013Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-903000	USD
CY2012Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	0	USD
CY2012Q4	us-gaap	Interest And Dividends Payable Current And Noncurrent InterestAndDividendsPayableCurrentAndNoncurrent	732000	USD
CY2013Q1	us-gaap	Interest And Dividends Payable Current And Noncurrent InterestAndDividendsPayableCurrentAndNoncurrent	1049000	USD
CY2013Q1	us-gaap	Interest Expense InterestExpense	2142000	USD
CY2012Q1	us-gaap	Interest Expense InterestExpense	1832000	USD
CY2012Q1	us-gaap	Interest Income Operating InterestIncomeOperating	15733000	USD
CY2013Q1	us-gaap	Interest Income Operating InterestIncomeOperating	18382000	USD
CY2012Q1	us-gaap	Interest Paid InterestPaid	1727000	USD
CY2013Q1	us-gaap	Interest Paid InterestPaid	1826000	USD
CY2013Q1	us-gaap	Interest Receivable InterestReceivable	5507000	USD
CY2012Q4	us-gaap	Interest Receivable InterestReceivable	5719000	USD
CY2012Q4	us-gaap	Investment Owned At Cost InvestmentOwnedAtCost	1328153000	USD
CY2013Q1	us-gaap	Investment Owned At Cost InvestmentOwnedAtCost	1465788000	USD
CY2013Q1	us-gaap	Investment Owned At Fair Value InvestmentOwnedAtFairValue	1535924000	USD
CY2012Q4	us-gaap	Investment Owned At Fair Value InvestmentOwnedAtFairValue	1375116000	USD
CY2012Q4	us-gaap	Investment Related Liabilities InvestmentRelatedLiabilities	637513000	USD
CY2013Q1	us-gaap	Investment Related Liabilities InvestmentRelatedLiabilities	668246000	USD
CY2013Q1	us-gaap	Investment Sold Not Yet Purchased Sale Proceeds InvestmentSoldNotYetPurchasedSaleProceeds	648101000	USD
CY2012	us-gaap	Investment Sold Not Yet Purchased Sale Proceeds InvestmentSoldNotYetPurchasedSaleProceeds	621048000	USD
CY2012Q1	us-gaap	Labor And Related Expense LaborAndRelatedExpense	375000	USD
CY2013Q1	us-gaap	Labor And Related Expense LaborAndRelatedExpense	328000	USD
CY2012Q4	us-gaap	Liabilities Liabilities	1645760000	USD
CY2013Q1	us-gaap	Liabilities Liabilities	1796072000	USD
CY2012Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2152115000	USD
CY2013Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2316674000	USD
CY2013Q1	us-gaap	Management Fee Description ManagementFeeDescription	The Operating Partnership pays the Manager 1.50% per annum of total equity of the Operating Partnership calculated in accordance with U.S. GAAP as of the end of each fiscal quarter (before deductions for base management fees and incentive fees payable with respect to such fiscal quarter), provided that total equity is adjusted to exclude one-time events pursuant to changes in U.S. GAAP, as well as non-cash charges after discussion between the Manager and the Company's independent directors, and approval by a majority of the Company's independent directors in the case of non-cash charges.
CY2013Q1	us-gaap	Minority Interest MinorityInterest	4754000	USD
CY2012Q4	us-gaap	Minority Interest MinorityInterest	0	USD
CY2012Q1	us-gaap	Minority Interest Increase From Stock Issuance MinorityInterestIncreaseFromStockIssuance	0	USD
CY2013Q1	us-gaap	Minority Interest Increase From Stock Issuance MinorityInterestIncreaseFromStockIssuance	4664000	USD
CY2013Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	32206000	USD
CY2012Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	19943000	USD
CY2013Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-26537000	USD
CY2012Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-31134000	USD
CY2012Q1	us-gaap	Net Income Loss NetIncomeLoss	32055000	USD
CY2013Q1	us-gaap	Net Income Loss NetIncomeLoss	40335000	USD
CY2013Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-411000	USD
CY2012Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	0	USD
CY2013Q1	us-gaap	Noninterest Expense Directors Fees NoninterestExpenseDirectorsFees	77000	USD
CY2012Q1	us-gaap	Noninterest Expense Directors Fees NoninterestExpenseDirectorsFees	74000	USD
CY2012Q1	us-gaap	Operating Expenses OperatingExpenses	4773000	USD
CY2013Q1	us-gaap	Operating Expenses OperatingExpenses	7813000	USD
CY2012Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	10960000	USD
CY2013Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	10569000	USD
CY2013Q1	us-gaap	Securities For Reverse Repurchase Agreements SecuritiesForReverseRepurchaseAgreements	42614000	USD
CY2012Q1	us-gaap	Payments For Proceeds From Investments PaymentsForProceedsFromInvestments	-814756000	USD
CY2013Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	3000	USD
CY2013Q1	us-gaap	Payments For Proceeds From Investments PaymentsForProceedsFromInvestments	-280923000	USD
CY2013Q1	us-gaap	Other Assets OtherAssets	410000	USD
CY2012Q4	us-gaap	Other Assets OtherAssets	379000	USD
CY2012Q4	us-gaap	Other Liabilities OtherLiabilities	903000	USD
CY2013Q1	us-gaap	Other Liabilities OtherLiabilities	0	USD
CY2013Q1	us-gaap	Payables To Broker Dealers And Clearing Organizations PayablesToBrokerDealersAndClearingOrganizations	132750000	USD
CY2012Q4	us-gaap	Payables To Broker Dealers And Clearing Organizations PayablesToBrokerDealersAndClearingOrganizations	57333000	USD
CY2013Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	31939000	USD
CY2012Q1	us-gaap	Payments Of Dividends PaymentsOfDividends	6735000	USD
CY2012Q1	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	0	USD
CY2013Q1	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	-322000	USD
CY2012Q1	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	0	USD
CY2013Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	448079000	USD
CY2012Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	827052000	USD
CY2013Q1	us-gaap	Pledged Financial Instruments Not Separately Reported Securities For Repurchase Agreements PledgedFinancialInstrumentsNotSeparatelyReportedSecuritiesForRepurchaseAgreements	1100000000	USD
CY2013Q1	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	4664000	USD
CY2012Q1	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	0	USD
CY2012Q1	us-gaap	Professional Fees ProfessionalFees	278000	USD
CY2013Q1	us-gaap	Professional Fees ProfessionalFees	440000	USD
CY2012Q1	us-gaap	Profit Loss ProfitLoss	32055000	USD
CY2013Q1	us-gaap	Profit Loss ProfitLoss	40746000	USD
CY2012Q1	us-gaap	Realized Investment Gains Losses RealizedInvestmentGainsLosses	-11789000	USD
CY2013Q1	us-gaap	Realized Investment Gains Losses RealizedInvestmentGainsLosses	12592000	USD
CY2012Q4	us-gaap	Securities For Reverse Repurchase Agreements SecuritiesForReverseRepurchaseAgreements	13650000	USD
CY2013Q1	us-gaap	Security Owned And Pledged As Collateral Fair Value SecurityOwnedAndPledgedAsCollateralFairValue	2500000	USD
CY2011Q3	us-gaap	Stock Repurchase Program Authorized Amount StockRepurchaseProgramAuthorizedAmount	10000000	USD
	us-gaap	Stock Repurchased And Retired During Period Shares StockRepurchasedAndRetiredDuringPeriodShares	217619	shares
	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	4500000	USD
CY2012Q4	us-gaap	Stockholders Equity StockholdersEquity	506355000	USD
CY2013Q1	us-gaap	Stockholders Equity StockholdersEquity	515848000	USD
CY2013Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	520602000	USD
CY2012Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	506355000	USD
CY2012Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	396264000	USD
CY2011Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	370916000	USD
CY2013Q1	us-gaap	Stockholders Equity Period Increase Decrease StockholdersEquityPeriodIncreaseDecrease	14247000	USD
CY2012Q1	us-gaap	Stockholders Equity Period Increase Decrease StockholdersEquityPeriodIncreaseDecrease	25348000	USD
CY2013Q1	us-gaap	Undistributed Earnings UndistributedEarnings	8807000	USD
CY2012Q1	us-gaap	Undistributed Earnings UndistributedEarnings	25320000	USD
CY2013Q1	us-gaap	Undistributed Earnings Allocated To Participating Securities UndistributedEarningsAllocatedToParticipatingSecurities	167000	USD
CY2012Q1	us-gaap	Undistributed Earnings Allocated To Participating Securities UndistributedEarningsAllocatedToParticipatingSecurities	587000	USD
CY2013Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-5254000	USD
CY2012Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	14754000	USD
CY2013Q1	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	22839000	USD
CY2012Q1	us-gaap	Unrealized Gain Loss On Investments UnrealizedGainLossOnInvestments	18130000	USD
CY2013Q1	efc	Accretive Dilutive Effect Of Share Issuances Net Of Offering Costs And Share Repurchases AccretiveDilutiveEffectOfShareIssuancesNetOfOfferingCostsAndShareRepurchases	0.01
CY2012Q1	efc	Accretive Dilutive Effect Of Share Issuances Net Of Offering Costs And Share Repurchases AccretiveDilutiveEffectOfShareIssuancesNetOfOfferingCostsAndShareRepurchases	0.00
CY2013Q1	efc	Accrued Base Management Fee AccruedBaseManagementFee	1967000	USD
CY2012Q4	efc	Accrued Base Management Fee AccruedBaseManagementFee	1934000	USD
CY2013Q1	efc	Accrued Incentive Fee AccruedIncentiveFee	2055000	USD
CY2012Q4	efc	Accrued Incentive Fee AccruedIncentiveFee	7343000	USD
CY2013Q1	efc	Net Income Loss Per Share NetIncomeLossPerShare	2.00
CY2012Q4	efc	Additional Paid In Capital Ltip Units AdditionalPaidInCapitalLTIPUnits	8982000	USD
CY2013Q1	efc	Additional Paid In Capital Ltip Units AdditionalPaidInCapitalLTIPUnits	9023000	USD
CY2013Q1	efc	Aggregate To Be Announced Trade Activity Buys Sells Non Cash AggregateToBeAnnouncedTradeActivityBuysSellsNonCash	4092595000	USD
CY2012Q1	efc	Aggregate To Be Announced Trade Activity Buys Sells Non Cash AggregateToBeAnnouncedTradeActivityBuysSellsNonCash	4179427000	USD
	efc	Amount Transferred From Share Based Compensation Awards To Shareholders Equity AmountTransferredFromShareBasedCompensationAwardsToShareholdersEquity	200000	USD
CY2013Q1	efc	Annual Base Management Fee Percentage AnnualBaseManagementFeePercentage	0.015
CY2012Q4	efc	Cash Collateral Received Pledged For Derivatives CashCollateralReceivedPledgedForDerivatives	-13188000	USD
CY2013Q1	efc	Cash Collateral Received Pledged For Derivatives CashCollateralReceivedPledgedForDerivatives	-2620000	USD
CY2012Q4	efc	Cash Collateral Received Pledged Reverse And Reverse Repurchase Agreements CashCollateralReceivedPledgedReverseAndReverseRepurchaseAgreements	4128000	USD
CY2013Q1	efc	Cash Collateral Received Pledged Reverse And Reverse Repurchase Agreements CashCollateralReceivedPledgedReverseAndReverseRepurchaseAgreements	1730000	USD
CY2013Q1	efc	Common Shares Issued And Outstanding Upon Conversion Of All Convertible Securities CommonSharesIssuedAndOutstandingUponConversionOfAllConvertibleSecurities	21012819	shares
CY2012Q4	efc	Common Shares Issued And Outstanding Upon Conversion Of All Ltip Units CommonSharesIssuedAndOutstandingUponConversionOfAllLtipUnits	20767565	shares
CY2012Q4	efc	Common Shares Outstanding CommonSharesOutstanding	20370469	shares
CY2013Q1	efc	Common Shares Outstanding CommonSharesOutstanding	20403723	shares
CY2012Q1	efc	Common Shares Outstanding CommonSharesOutstanding	16447651	shares
CY2011Q4	efc	Common Shares Outstanding CommonSharesOutstanding	16447651	shares
CY2013Q1	efc	Concentration Risk Reverse Repurchase Agreements ConcentrationRiskReverseRepurchaseAgreements	0.56
CY2012Q4	efc	Concentration Risk Reverse Repurchase Agreements ConcentrationRiskReverseRepurchaseAgreements	0.67
CY2013Q1	efc	Concentration Risk Treshold ConcentrationRiskTreshold	0.15
CY2013Q1	efc	Derivatives Cost DerivativesCost	56769000	USD
CY2012Q4	efc	Derivatives Cost DerivativesCost	65860000	USD
CY2013Q1	efc	Derivatives Proceeds DerivativesProceeds	14358000	USD
CY2012Q4	efc	Derivatives Proceeds DerivativesProceeds	13171000	USD
CY2013Q1	efc	Divideds Paid Per Common Share DividedsPaidPerCommonShare	-1.52
CY2012Q1	efc	Divideds Paid Per Common Share DividedsPaidPerCommonShare	-0.40
CY2013Q1	efc	Dividend Amount DividendAmount	31900000	USD
CY2012Q1	efc	Dividend Amount DividendAmount	6700000	USD
CY2012Q1	efc	Dividend Per Share DividendPerShare	0.4
CY2013Q1	efc	Dividend Per Share DividendPerShare	1.52
CY2012Q4	efc	Due To Brokers Margin Accounts DueToBrokersMarginAccounts	30954000	USD
CY2013Q1	efc	Due To Brokers Margin Accounts DueToBrokersMarginAccounts	21599000	USD
CY2012Q1	efc	Efc Weightedaverageparticipatingnoncontrollinginterestunits EfcWeightedaverageparticipatingnoncontrollinginterestunits	0	shares
CY2013Q1	efc	Efc Weightedaverageparticipatingnoncontrollinginterestunits EfcWeightedaverageparticipatingnoncontrollinginterestunits	212000	shares
CY2013Q1	efc	Financial Derivatives Textblock FinancialDerivativesTextblock	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial Derivatives</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gains and losses on the Company's derivative contracts for the three month periods ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March 31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and 2012 are summarized in the tables below:</font></div><div style="line-height:120%;padding-top:18px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;text-decoration:none;">March 31, 2013</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">:</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="10" rowspan="1"></td></tr><tr><td width="50%" rowspan="1" colspan="1"></td><td width="16%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="14%" 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="14%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-decoration:underline;">Derivative Type</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Primary Risk</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Exposure</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net Realized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gain/(Loss) for</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">the Three Month Period Ended</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 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;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change in Net</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gain/(Loss) for</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">the Three Month Period Ended<br clear="none"/>March 31, 2013</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:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">(In thousands)</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="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial derivatives - assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;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;">Credit default swaps on asset-backed securities</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,251</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,599</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;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;">Credit default swaps on asset-backed indices</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,487</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25</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:28px;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;">Total return swaps</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity Market</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(38</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">61</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:28px;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;">Interest rate swaps</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest Rates</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(217</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">380</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="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,509</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #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;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,133</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right: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></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial derivatives - liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit default swaps on asset-backed securities</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(28</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;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;">Credit default swaps on asset-backed indices</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">178</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td 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;">359</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:28px;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;">Credit default swaps on corporate bond indices</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,627</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(178</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;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;">Total return swaps</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity Market</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;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;">Interest rate swaps</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest Rates</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">617</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td 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;">(360</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;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;">Eurodollar futures</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest Rates</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;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;">(22</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;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;">22</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,914</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(121</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,405</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,254</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:18px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;text-decoration:none;">March 31, 2012</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">:</font></div><div style="line-height:120%;padding-top:4px;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="10" rowspan="1"></td></tr><tr><td width="50%" rowspan="1" colspan="1"></td><td width="16%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="14%" 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="14%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-decoration:underline;">Derivative Type</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Primary Risk</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Exposure</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net Realized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gain/(Loss) for</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">the Three Month Period Ended</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2012</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Change in Net</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gain/(Loss) for</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">the Three Month Period Ended<br clear="none"/>March 31, 2012</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:8pt;"><font style="font-family:inherit;font-size:8pt;font-style:italic;">(In thousands)</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="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial derivatives - assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;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;">Credit default swaps on asset-backed securities</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,744</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,799</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:28px;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;">Credit default swaps on asset-backed indices</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,493</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,790</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;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;">Credit default swaps on corporate bond indices</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,548</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">570</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:28px;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;">Interest rate swaps</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest Rates</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td 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;">(8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Eurodollar futures</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest Rates</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(11</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;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;">(11,793</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;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;">3,560</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></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;font-weight:bold;">Financial derivatives - liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;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;">Credit default swaps on asset-backed indices</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,309</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td 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;">34</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:28px;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;">Credit default swaps on corporate bond indices</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td 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;">66</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:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total return swaps</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity Market</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,056</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25</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:28px;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;">Interest rate swaps</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest Rates</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(10,399</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,121</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:28px;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;">Eurodollar futures</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="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest Rates</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;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;">—</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;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;">(52</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,143</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,194</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(19,936</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,754</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March 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 31, 2012</font><font style="font-family:inherit;font-size:10pt;">, the Company was a party to credit derivatives contracts in the form of credit default swaps on mortgage/asset-backed indices (ABX and CMBX indices or "ABS indices"). As a seller of credit protection via ABS indices, the Company receives periodic payments at fixed rates from protection buyers, and is obligated to make payments to the protection buyer upon the occurrence of a "credit event" with respect to underlying reference assets. Written credit derivatives held by the Company at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March 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 31, 2012</font><font style="font-family:inherit;font-size:10pt;">, respectively, are summarized below:</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="63%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="15%" 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="16%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Credit Default Swaps on Asset-Backed Indices</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Amount at</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">March 31, 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;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Amount at</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">December 31, 2012</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;font-style:italic;">(In thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair Value of Written Credit Derivatives, Net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,092</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(11,986</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair Value of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(717</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notional Amount of Written Credit Derivatives </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(39,935</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(40,216</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-left:12px;text-indent:-6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notional Amount of Purchased Credit Derivatives Offsetting Written Credit Derivatives with Third Parties </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,792</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></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Offsetting transactions with third parties include purchased credit derivatives which have the same reference obligation.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The notional value is the maximum amount that a seller of ABS indices would be obligated to pay, and a buyer of credit protection would receive upon occurrence of a "credit event." Movements in the value of credit default swap transactions may require the Company or the counterparty to post or receive collateral. Amounts due or owed under an ABS index contract may be offset against amounts due or owed on another ABS index contract with the same ISDA counterparty.</font></div></td></tr></table><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unless terminated by mutual agreement by both the buyer and seller, ABS index contracts typically terminate at the date that all of the underlying reference assets are paid off in full, retired, or otherwise cease to exist. Implied credit spreads may be used to determine the market value of swap contracts and are reflective of the cost of buying/selling protection. Higher spreads would indicate a greater likelihood that a seller will be obligated to perform (</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">i.e.</font><font style="font-family:inherit;font-size:10pt;">, make payment) under the swap contract. In situations where the credit quality of the underlying reference assets have deteriorated, the percentage of notional values paid up front ("points up front") is frequently used as an indication of ABS index risk. ABS index credit protection sellers entering the market would expect to be paid points up front corresponding to the approximate fair value of the contract in order to write protection on the reference assets underlying the Company's ABS index contracts. Periodic payment rates at March 31, 2013 on ABS index contracts where the Company wrote protection range between 147 and 458 basis points on contracts that were outstanding at this date. Periodic payment rates at December 31, 2012 on ABS index contracts where the Company wrote protection range between 35 and 458 basis points on contracts that were outstanding at this date. Total net up-front payments received relating to ABS index contracts outstanding at March 31, 2013 and December 31, 2012 were </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$14.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$12.6 million</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2013Q1	efc	Gain Loss Realized On Sale Of Investments GainLossRealizedOnSaleOfInvestments	13997000	USD
CY2012Q1	efc	Gain Loss Realized On Sale Of Investments GainLossRealizedOnSaleOfInvestments	8147000	USD
CY2012Q4	efc	High Range Of Spread On Written Credit Derivatives HighRangeOfSpreadOnWrittenCreditDerivatives	0.0458
CY2013Q1	efc	High Range Of Spread On Written Credit Derivatives HighRangeOfSpreadOnWrittenCreditDerivatives	0.0458
CY2012Q1	efc	Incentive Fee IncentiveFee	0	USD
CY2013Q1	efc	Incentive Fee IncentiveFee	2055000	USD
CY2013Q1	efc	Incentive Fee Hurdle Rate Fixed IncentiveFeeHurdleRateFixed	0.09
CY2013Q1	efc	Incentive Fee Hurdle Rate Floating IncentiveFeeHurdleRateFloating	0.03
CY2013Q1	efc	Incentive Fee Rate IncentiveFeeRate	0.25
CY2012Q1	efc	Increase Decrease Accrued Incentive Fee IncreaseDecreaseAccruedIncentiveFee	0	USD
CY2013Q1	efc	Increase Decrease Accrued Incentive Fee IncreaseDecreaseAccruedIncentiveFee	-5288000	USD
CY2012Q1	efc	Increase Decrease In Due To Brokers Margin Accounts IncreaseDecreaseInDueToBrokersMarginAccounts	-14238000	USD
CY2013Q1	efc	Increase Decrease In Due To Brokers Margin Accounts IncreaseDecreaseInDueToBrokersMarginAccounts	-9355000	USD
CY2012Q1	efc	Increase Decrease In Payable For Securities Purchased IncreaseDecreaseInPayableForSecuritiesPurchased	-56829000	USD
CY2013Q1	efc	Increase Decrease In Payable For Securities Purchased IncreaseDecreaseInPayableForSecuritiesPurchased	75417000	USD
CY2012Q1	efc	Increase Decrease In Receivable For Securities Sold IncreaseDecreaseInReceivableForSecuritiesSold	108510000	USD
CY2013Q1	efc	Increase Decrease In Receivable For Securities Sold IncreaseDecreaseInReceivableForSecuritiesSold	-17680000	USD
CY2012Q1	efc	Increase Decrease In Repurchase Agreements IncreaseDecreaseInRepurchaseAgreements	-2100000	USD
CY2013Q1	efc	Increase Decrease In Repurchase Agreements IncreaseDecreaseInRepurchaseAgreements	28964000	USD
CY2012Q1	efc	Increase Decrease Interest Accrued Management Fee IncreaseDecreaseInterestAccruedManagementFee	96000	USD
CY2013Q1	efc	Increase Decrease Interest Accrued Management Fee IncreaseDecreaseInterestAccruedManagementFee	33000	USD
CY2012Q1	efc	Increase Decrease Interest And Dividends Payable IncreaseDecreaseInterestAndDividendsPayable	94000	USD
CY2013Q1	efc	Increase Decrease Interest And Dividends Payable IncreaseDecreaseInterestAndDividendsPayable	317000	USD
CY2013Q1	efc	Low Range Of Spread On Written Credit Derivatives LowRangeOfSpreadOnWrittenCreditDerivatives	0.0147
CY2012Q4	efc	Low Range Of Spread On Written Credit Derivatives LowRangeOfSpreadOnWrittenCreditDerivatives	0.0035
	efc	Ltip Units Converted Since Inception LtipUnitsConvertedSinceInception	10000	shares
CY2013Q1	efc	Management Fees ManagementFees	1967000	USD
CY2012Q1	efc	Management Fees ManagementFees	1492000	USD
CY2013Q1	efc	Market Based Total Return MarketBasedTotalReturn	0.1690
CY2012Q1	efc	Market Based Total Return MarketBasedTotalReturn	0.1621
CY2013Q1	efc	Minimum Percentage Of Incentive Fee To Be Paid In Share MinimumPercentageOfIncentiveFeeToBePaidInShare	0.10
CY2012Q4	efc	Net Amount NetAmount	20104000	USD
CY2013Q1	efc	Net Amount NetAmount	15140000	USD
CY2012Q4	efc	Net Amount Repurchase And Reverse Repurchase Agreements NetAmountRepurchaseAndReverseRepurchaseAgreements	160004000	USD
CY2013Q1	efc	Net Amount Repurchase And Reverse Repurchase Agreements NetAmountRepurchaseAndReverseRepurchaseAgreements	190151000	USD
CY2013Q1	efc	Net Asset Based Total Return After Incentive Fee NetAssetBasedTotalReturnAfterIncentiveFee	0.0787
CY2012Q1	efc	Net Asset Based Total Return After Incentive Fee NetAssetBasedTotalReturnAfterIncentiveFee	0.0866
CY2013Q1	efc	Net Income Loss Common Shares NetIncomeLossCommonShares	39564000	USD
CY2012Q1	efc	Net Income Loss Common Shares NetIncomeLossCommonShares	31312000	USD
CY2012Q1	efc	Net Income Loss Ltips NetIncomeLossLtips	743000	USD
CY2013Q1	efc	Net Income Loss Ltips NetIncomeLossLtips	771000	USD
CY2012Q1	efc	Net Income Loss Per Share NetIncomeLossPerShare	1.95
CY2013Q1	efc	Net Value Repurchase And Reverse Repurchase Agreements NetValueRepurchaseAndReverseRepurchaseAgreements	-922658000	USD
CY2013Q1	efc	Net Increase Decrease In Equity From Transactions NetIncreaseDecreaseInEquityFromTransactions	-26499000	USD
CY2012Q1	efc	Net Increase Decrease In Equity From Transactions NetIncreaseDecreaseInEquityFromTransactions	-6707000	USD
CY2012Q1	efc	Net Investment Income Per Share NetInvestmentIncomePerShare	0.67
CY2013Q1	efc	Net Investment Income Per Share NetInvestmentIncomePerShare	0.52
CY2013Q1	efc	Net Investment Income Ratio To Average Equity NetInvestmentIncomeRatioToAverageEquity	0.0941
CY2012Q1	efc	Net Investment Income Ratio To Average Equity NetInvestmentIncomeRatioToAverageEquity	0.1151
CY2012Q1	efc	Net Realized And Unrealized Gain Loss On Investments And Financial Derivatives NetRealizedAndUnrealizedGainLossOnInvestmentsAndFinancialDerivatives	21095000	USD
CY2013Q1	efc	Net Realized And Unrealized Gain Loss On Investments And Financial Derivatives NetRealizedAndUnrealizedGainLossOnInvestmentsAndFinancialDerivatives	30177000	USD
CY2013Q1	efc	Net Realized Gain Loss On Derivatives NetRealizedGainLossOnDerivatives	-1405000	USD
CY2012Q1	efc	Net Realized Gain Loss On Derivatives NetRealizedGainLossOnDerivatives	-19936000	USD
CY2012Q1	efc	Net Realized Unrealized Gains Losses Per Share NetRealizedUnrealizedGainsLossesPerShare	1.28
CY2013Q1	efc	Net Realized Unrealized Gains Losses Per Share NetRealizedUnrealizedGainsLossesPerShare	1.48
CY2012Q4	efc	Net Value Repurchase And Reverse Repurchase Agreements NetValueRepurchaseAndReverseRepurchaseAgreements	-892068000	USD
CY2012Q1	efc	Netincomelossattributabletononcontrollinginterestpershare Netincomelossattributabletononcontrollinginterestpershare	0.00
CY2013Q1	efc	Netincomelossattributabletononcontrollinginterestpershare Netincomelossattributabletononcontrollinginterestpershare	-0.02
CY2012Q1	efc	Netincomelossattributabletoparentpershare Netincomelossattributabletoparentpershare	1.95
CY2013Q1	efc	Netincomelossattributabletoparentpershare Netincomelossattributabletoparentpershare	1.98
CY2012Q1	efc	Non Controlling Interest NonControllingInterest	0	USD
CY2013Q1	efc	Non Controlling Interest NonControllingInterest	89000	USD
CY2013Q1	efc	Number Counterparties With Concentration Risk Reverse Repurchase Agreements NumberCounterpartiesWithConcentrationRiskReverseRepurchaseAgreements	2	counterparties
CY2012Q4	efc	Number Counterparties With Concentration Risk Reverse Repurchase Agreements NumberCounterpartiesWithConcentrationRiskReverseRepurchaseAgreements	2	counterparties
CY2013Q1	efc	Payments Made To Close Financial Derivatives PaymentsMadeToCloseFinancialDerivatives	6327000	USD
CY2012Q1	efc	Payments Made To Close Financial Derivatives PaymentsMadeToCloseFinancialDerivatives	18952000	USD
CY2012Q1	efc	Payments Made To Open Financial Derivatives PaymentsMadeToOpenFinancialDerivatives	40628000	USD
CY2013Q1	efc	Payments Made To Open Financial Derivatives PaymentsMadeToOpenFinancialDerivatives	732000	USD
CY2013Q1	efc	Percentage Of Long Term Incentive Plan Units And Operating Partnership Units On Total Shares And Units PercentageOfLongTermIncentivePlanUnitsAndOperatingPartnershipUnitsOnTotalSharesAndUnits	0.0290
CY2013Q1	efc	Percentage Of Total Return After Incentive Fees Assuming Conversion Of All Ltip Units PercentageOfTotalReturnAfterIncentiveFeesAssumingConversionOfAllLtipUnits	0.0571
CY2013Q1	efc	Percentagecollaterallizedbygnrcmocertificates Percentagecollaterallizedbygnrcmocertificates	1
CY2012Q4	efc	Percentagecollaterallizedbygnrcmocertificates Percentagecollaterallizedbygnrcmocertificates	1
CY2012Q1	efc	Principal Payment On Securitized Debt PrincipalPaymentOnSecuritizedDebt	40000	USD
CY2013Q1	efc	Principal Payment On Securitized Debt PrincipalPaymentOnSecuritizedDebt	70000	USD
CY2012Q1	efc	Proceeds From Investments Sold Short ProceedsFromInvestmentsSoldShort	566348000	USD
CY2013Q1	efc	Proceeds From Investments Sold Short ProceedsFromInvestmentsSoldShort	662132000	USD
CY2013Q1	efc	Proceeds From Issuance Of Securitized Debt ProceedsFromIssuanceOfSecuritizedDebt	0	USD
CY2012Q1	efc	Proceeds From Issuance Of Securitized Debt ProceedsFromIssuanceOfSecuritizedDebt	1522000	USD
CY2013Q1	efc	Proceeds From Principal Payments Of Investments ProceedsFromPrincipalPaymentsOfInvestments	46326000	USD
CY2012Q1	efc	Proceeds From Principal Payments Of Investments ProceedsFromPrincipalPaymentsOfInvestments	29722000	USD
CY2012Q1	efc	Proceeds Received To Close Financial Derivatives ProceedsReceivedToCloseFinancialDerivatives	41907000	USD
CY2013Q1	efc	Realized Gain Loss On Futures Net RealizedGainLossOnFuturesNet	-22000	USD
CY2013Q1	efc	Realized Gain Loss On Swaps Net RealizedGainLossOnSwapsNet	-1383000	USD
CY2012Q1	efc	Realized Gain Loss On Swaps Net RealizedGainLossOnSwapsNet	-19928000	USD
CY2013Q1	efc	Receivable For Securities Sold And Failing Trades ReceivableForSecuritiesSoldAndFailingTrades	609239000	USD
CY2012Q4	efc	Receivable For Securities Sold And Failing Trades ReceivableForSecuritiesSoldAndFailingTrades	626919000	USD
CY2012Q4	efc	Repurchase Agreements Cost RepurchaseAgreementsCost	13650000	USD
CY2013Q1	efc	Repurchase Agreements Cost RepurchaseAgreementsCost	42614000	USD
CY2012Q1	efc	Repurchase Of Investments Sold Short RepurchaseOfInvestmentsSoldShort	450793000	USD
CY2013Q1	efc	Proceeds Received To Close Financial Derivatives ProceedsReceivedToCloseFinancialDerivatives	10766000	USD
CY2013Q1	efc	Proceeds Received To Open Financial Derivatives ProceedsReceivedToOpenFinancialDerivatives	5165000	USD
CY2012Q1	efc	Proceeds Received To Open Financial Derivatives ProceedsReceivedToOpenFinancialDerivatives	21564000	USD
CY2013Q1	efc	Ratio Of Incentive Fee To Average Equity RatioOfIncentiveFeeToAverageEquity	0.0039
CY2012Q1	efc	Ratio Of Incentive Fee To Average Equity RatioOfIncentiveFeeToAverageEquity	0.0000
CY2012Q1	efc	Ratio Of Interest Expense To Average Equity RatioOfInterestExpenseToAverageEquity	0.0192
CY2013Q1	efc	Ratio Of Interest Expense To Average Equity RatioOfInterestExpenseToAverageEquity	0.0166
CY2013Q1	efc	Ratio Of Operating Expenses Before Incentive Fee And Interest Expense To Average Equity RatioOfOperatingExpensesBeforeIncentiveFeeAndInterestExpenseToAverageEquity	0.0281
CY2012Q1	efc	Ratio Of Operating Expenses Before Incentive Fee And Interest Expense To Average Equity RatioOfOperatingExpensesBeforeIncentiveFeeAndInterestExpenseToAverageEquity	0.0309
CY2012Q1	efc	Ratio Of Total Expense To Average Equity RatioOfTotalExpenseToAverageEquity	0.0501
CY2013Q1	efc	Ratio Of Total Expense To Average Equity RatioOfTotalExpenseToAverageEquity	0.0486
CY2012Q1	efc	Realized Gain Loss On Futures Net RealizedGainLossOnFuturesNet	-8000	USD
CY2013Q1	efc	Repurchase Of Investments Sold Short RepurchaseOfInvestmentsSoldShort	633283000	USD
CY2012Q4	efc	Reverse Repurchase Agreements ReverseRepurchaseAgreements	905718000	USD
CY2013Q1	efc	Reverse Repurchase Agreements ReverseRepurchaseAgreements	965272000	USD
CY2012Q1	efc	Reverse Repurchase Agreements Net Of Repayments ReverseRepurchaseAgreementsNetOfRepayments	-25196000	USD
CY2013Q1	efc	Reverse Repurchase Agreements Net Of Repayments ReverseRepurchaseAgreementsNetOfRepayments	-59554000	USD
CY2013Q1	efc	Securitized Debt SecuritizedDebt	1205000	USD
CY2012Q4	efc	Securitized Debt SecuritizedDebt	1335000	USD
CY2012Q4	efc	Securities Collateral On Derivatives SecuritiesCollateralOnDerivatives	0	USD
CY2013Q1	efc	Securities Collateral On Derivatives SecuritiesCollateralOnDerivatives	0	USD
CY2012Q4	efc	Securities Collateral Realting To Repurchase And Reverse Repurchase Agreements SecuritiesCollateralRealtingToRepurchaseAndReverseRepurchaseAgreements	1047944000	USD
CY2013Q1	efc	Securities Collateral Realting To Repurchase And Reverse Repurchase Agreements SecuritiesCollateralRealtingToRepurchaseAndReverseRepurchaseAgreements	1111079000	USD
CY2012Q1	efc	Shares Issued As Payment Of Incentive Fee SharesIssuedAsPaymentOfIncentiveFee	0	USD
CY2013Q1	efc	Shares Issued In Connection With Incentive Fee Payment SharesIssuedInConnectionWithIncentiveFeePayment	33254	shares
CY2013Q1	efc	Securitized Debt Proceeds SecuritizedDebtProceeds	1250000	USD
CY2012Q4	efc	Securitized Debt Proceeds SecuritizedDebtProceeds	1311000	USD
CY2013Q1	efc	Shareholders Equity Per Share Upon Conversion Of All Convertible Units ShareholdersEquityPerShareUponConversionOfAllConvertibleUnits	24.78
CY2012Q4	efc	Shareholders Equity Per Share Upon Conversion Of All Ltip Units ShareholdersEquityPerShareUponConversionOfAllLtipUnits	24.38
CY2012Q1	efc	Shareholders Equity Per Share Upon Conversion Of All Ltip Units ShareholdersEquityPerShareUponConversionOfAllLtipUnits	23.53
CY2013Q1	efc	Shares Issued As Payment Of Incentive Fee SharesIssuedAsPaymentOfIncentiveFee	734000	USD
CY2012Q1	efc	Shares Issued In Connection With Incentive Fee Payment SharesIssuedInConnectionWithIncentiveFeePayment	0	shares
CY2013Q1	efc	Shares Issued In Connection With Incentive Fee Payment Non Cash SharesIssuedInConnectionWithIncentiveFeePaymentNonCash	734000	USD
CY2012Q1	efc	Shares Issued In Connection With Incentive Fee Payment Non Cash SharesIssuedInConnectionWithIncentiveFeePaymentNonCash	0	USD
	efc	Stock Repurchases Average Price Per Share StockRepurchasesAveragePricePerShare	20.59
CY2012Q4	efc	Total Investments And Financial Derivatives TotalInvestmentsAndFinancialDerivatives	1437270000	USD
CY2013Q1	efc	Total Investments And Financial Derivatives TotalInvestmentsAndFinancialDerivatives	1614788000	USD
CY2013Q1	efc	Total Net Unrealized Gain Loss On Investments And Financial Derivatives TotalNetUnrealizedGainLossOnInvestmentsAndFinancialDerivatives	17585000	USD
CY2012Q1	efc	Total Net Unrealized Gain Loss On Investments And Financial Derivatives TotalNetUnrealizedGainLossOnInvestmentsAndFinancialDerivatives	32884000	USD
CY2013Q1	efc	Totalltipandopunitsoutstanding Totalltipandopunitsoutstanding	609096	shares
CY2013Q1	efc	Undistributed Earnings Allocated To Common Shares UndistributedEarningsAllocatedToCommonShares	8551000	USD
CY2012Q1	efc	Undistributed Earnings Allocated To Common Shares UndistributedEarningsAllocatedToCommonShares	24733000	USD
CY2013Q1	efc	Unencumbered Investments Held In Custody UnencumberedInvestmentsHeldInCustody	248300000	USD
CY2013Q1	efc	Unrealized Gain Loss On Futures UnrealizedGainLossOnFutures	22000	USD
CY2012Q1	efc	Unrealized Gain Loss On Futures UnrealizedGainLossOnFutures	-63000	USD
CY2012Q1	efc	Unrealized Gain Loss On Swaps UnrealizedGainLossOnSwaps	14817000	USD
CY2013Q1	efc	Weighted Average Number Of Common Share Outstanding Basic And Diluted WeightedAverageNumberOfCommonShareOutstandingBasicAndDiluted	20388204	shares
CY2013Q1	efc	Weighted Average Participating Long Term Incentive Plan Units WeightedAverageParticipatingLongTermIncentivePlanUnits	397096	shares
CY2013Q1	efc	Unrealized Gain Loss On Swaps UnrealizedGainLossOnSwaps	-5276000	USD
CY2012Q1	efc	Weighted Average Number Of Common Share Outstanding Basic And Diluted WeightedAverageNumberOfCommonShareOutstandingBasicAndDiluted	16447651	shares
CY2013Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	20412011	shares
CY2013Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2013Q1	dei	Document Type DocumentType	10-Q
CY2013Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001411342
CY2013Q1	dei	Entity Registrant Name EntityRegistrantName	Ellington Financial LLC
CY2012Q1	efc	Weighted Average Participating Long Term Incentive Plan Units WeightedAverageParticipatingLongTermIncentivePlanUnits	390500	shares
CY2013Q1	efc	Weighted Average Share Impact On Dividends Paid WeightedAverageShareImpactOnDividendsPaid	0.05
CY2012Q1	efc	Weighted Average Share Impact On Dividends Paid WeightedAverageShareImpactOnDividendsPaid	0.01
CY2013Q1	dei	Amendment Flag AmendmentFlag	false
CY2013Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2013Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2013Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2013
CY2013Q1	dei	Document Period End Date DocumentPeriodEndDate	2013-03-31

Files In Submission

Name	View Source	Status
0001411342-13-000040-index-headers.html	Edgar Link	pending
0001411342-13-000040-index.html	Edgar Link	pending
0001411342-13-000040.txt	Edgar Link	pending
0001411342-13-000040-xbrl.zip	Edgar Link	pending
efc-20130331.xml	Edgar Link	completed
efc-20130331.xsd	Edgar Link	pending
efc-20130331_cal.xml	Edgar Link	unprocessable
efc-20130331_def.xml	Edgar Link	unprocessable
efc-20130331_lab.xml	Edgar Link	unprocessable
efc-20130331_pre.xml	Edgar Link	unprocessable
efc-2013x3x31x10kxex3121.htm	Edgar Link	pending
efc-2013x3x31x10kxex3211.htm	Edgar Link	pending
efc-2013x3x31x10kxex3221.htm	Edgar Link	pending
efc-2013x3x31x10qxex3111.htm	Edgar Link	pending
ellingtonfinancial-2013033.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
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R61.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$EFC
Ellington Financial Inc. Stock $efc

2013 Q2 Form 10-Q Financial Statement

#000141134213000040 Filed on May 08, 2013

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EFC Ellington Financial Inc. Stock $efc

2013 Q2 Form 10-Q Financial Statement

#000141134213000040 Filed on May 08, 2013

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EFC
Ellington Financial Inc. Stock $efc