2023 Q2 Form 10-Q Financial Statement

#000162828023015764 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $1.172B $11.10M
YoY Change 7.48% -99.49%
Cost Of Revenue $953.5M $798.8M
YoY Change 459.29% 966.16%
Gross Profit $218.4M -$787.7M
YoY Change -76.26% -137.56%
Gross Profit Margin 18.64% -7095.63%
Selling, General & Admin $42.92M $40.83M
YoY Change 19.08% -10.79%
% of Gross Profit 19.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.982M $5.050M
YoY Change 9.11% 6.41%
% of Gross Profit 3.2%
Operating Expenses $42.91M $40.61M
YoY Change 370.3% -12.43%
Operating Profit $175.5M -$828.3M
YoY Change -80.73% -140.39%
Interest Expense $953.5M $798.8M
YoY Change 459.29% 966.16%
% of Operating Profit 543.39%
Other Income/Expense, Net $175.5M -$883.3M
YoY Change -55.9% -159.51%
Pretax Income $175.5M -$828.3M
YoY Change -80.21% -140.4%
Income Tax $14.28M $11.03M
% Of Pretax Income 8.14%
Net Earnings $131.3M -$876.1M
YoY Change -84.85% -143.32%
Net Earnings / Revenue 11.2% -7892.36%
Basic Earnings Per Share $0.27 -$1.79
Diluted Earnings Per Share $0.27 -$1.79
COMMON SHARES
Basic Shares Outstanding 493.9M shares 493.6M shares
Diluted Shares Outstanding 494.4M shares 489.7M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.237B $1.794B
YoY Change 44.84% 87.71%
Cash & Equivalents $1.237B $1.794B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $787.4M $679.1M
Other Receivables $944.5M $773.7M
Total Short-Term Assets $2.969B $3.247B
YoY Change 86.93% 101.7%
LONG-TERM ASSETS
Property, Plant & Equipment $7.432M $8.165M
YoY Change -19.4% -17.4%
Goodwill
YoY Change
Intangibles $15.16M $15.92M
YoY Change -16.66% -31.11%
Long-Term Investments $84.54B $81.31B
YoY Change 19.22% 10.85%
Other Assets $0.00 $0.00
YoY Change -100.0%
Total Long-Term Assets $86.36B $83.59B
YoY Change 19.87% 12.08%
TOTAL ASSETS
Total Short-Term Assets $2.969B $3.247B
Total Long-Term Assets $86.36B $83.59B
Total Assets $89.33B $86.83B
YoY Change 21.31% 13.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $140.6M $118.4M
YoY Change 35.3% 26.34%
Deferred Revenue
YoY Change
Short-Term Debt $61.64B $60.99B
YoY Change 20.0% 15.9%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.43B $64.69B
YoY Change 23.44% 17.55%
LONG-TERM LIABILITIES
Long-Term Debt $10.78B $9.729B
YoY Change 31.49% 15.8%
Other Long-Term Liabilities $231.0M $502.2M
YoY Change -56.41% -60.47%
Total Long-Term Liabilities $11.01B $10.23B
YoY Change 26.16% 5.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.43B $64.69B
Total Long-Term Liabilities $11.01B $10.23B
Total Liabilities $77.55B $75.04B
YoY Change 23.99% 15.97%
SHAREHOLDERS EQUITY
Retained Earnings -$10.93B -$10.74B
YoY Change 45.85% 34.6%
Common Stock $4.939M $4.939M
YoY Change -69.31% -66.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.78B $11.79B
YoY Change
Total Liabilities & Shareholders Equity $89.33B $86.83B
YoY Change 21.31% 13.98%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $131.3M -$876.1M
YoY Change -84.85% -143.32%
Depreciation, Depletion And Amortization $6.982M $5.050M
YoY Change 9.11% 6.41%
Cash From Operating Activities $1.137B -$1.019B
YoY Change 65.28% -150.22%
INVESTING ACTIVITIES
Capital Expenditures $177.5M $35.83M
YoY Change -167.51% -108.51%
Acquisitions
YoY Change
Other Investing Activities -$2.989B -$1.045B
YoY Change 1827.18% -13.64%
Cash From Investing Activities -$3.166B -$1.081B
YoY Change 657.37% -33.74%
FINANCING ACTIVITIES
Cash Dividend Paid $444.1M
YoY Change 27.58%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.472B $2.317B
YoY Change -496.17% -395.48%
NET CHANGE
Cash From Operating Activities 1.137B -$1.019B
Cash From Investing Activities -3.166B -$1.081B
Cash From Financing Activities 1.472B $2.317B
Net Change In Cash -557.3M $217.5M
YoY Change 446.87% -156.3%
FREE CASH FLOW
Cash From Operating Activities $1.137B -$1.019B
Capital Expenditures $177.5M $35.83M
Free Cash Flow $959.1M -$1.055B
YoY Change 0.89% -143.05%

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314026000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1401637000 usd
CY2023Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
31875000 usd
CY2022Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
26883000 usd
CY2023Q1 nly Comprehensive Income Loss Attributable To Common Stock Holders
ComprehensiveIncomeLossAttributableToCommonStockHolders
282151000 usd
CY2022Q1 nly Comprehensive Income Loss Attributable To Common Stock Holders
ComprehensiveIncomeLossAttributableToCommonStockHolders
-1428520000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11909033000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11478770000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-839328000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
2023894000 usd
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-66570000 usd
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
11770000 usd
CY2023Q1 nly Amortization Of Securitized Debt Premiums And Discounts Net
AmortizationOfSecuritizedDebtPremiumsAndDiscountsNet
-2806000 usd
CY2022Q1 nly Amortization Of Securitized Debt Premiums And Discounts Net
AmortizationOfSecuritizedDebtPremiumsAndDiscountsNet
3074000 usd
CY2023Q1 nly Depreciation Depletion And Amortization Excluding Amortization Of Debt Premiums And Discounts Deferred Financing Costs And Discounts Of Investments
DepreciationDepletionAndAmortizationExcludingAmortizationOfDebtPremiumsAndDiscountsDeferredFinancingCostsAndDiscountsOfInvestments
5050000 usd
CY2022Q1 nly Depreciation Depletion And Amortization Excluding Amortization Of Debt Premiums And Discounts Deferred Financing Costs And Discounts Of Investments
DepreciationDepletionAndAmortizationExcludingAmortizationOfDebtPremiumsAndDiscountsDeferredFinancingCostsAndDiscountsOfInvestments
4746000 usd
CY2023Q1 nly Gain Loss On Investments Debt And Derivatives
GainLossOnInvestmentsDebtAndDerivatives
-1284746000 usd
CY2022Q1 nly Gain Loss On Investments Debt And Derivatives
GainLossOnInvestmentsDebtAndDerivatives
1544765000 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-354000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
676000 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8384000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-219000 usd
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
608000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
636000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
994000 usd
CY2023Q1 nly Payments For Proceeds From Derivative Instrument Operating Activities
PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
-1075189000 usd
CY2022Q1 nly Payments For Proceeds From Derivative Instrument Operating Activities
PaymentsForProceedsFromDerivativeInstrumentOperatingActivities
856299000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
36601000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5266000 usd
CY2023Q1 us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
136796000 usd
CY2022Q1 us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
8069000 usd
CY2023Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-206885000 usd
CY2022Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-10657000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-83086000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
734238000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1018972000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2029148000 usd
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
6332698000 usd
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
5061300000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
4685607000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2393169000 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1349348000 usd
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3047356000 usd
CY2023Q1 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
935360000 usd
CY2022Q1 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
2194285000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
0 usd
CY2022Q1 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
4215000 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
188082000 usd
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
605626000 usd
CY2023Q1 us-gaap Payments To Acquire Mortgage Servicing Rights Msr
PaymentsToAcquireMortgageServicingRightsMSR
35825000 usd
CY2022Q1 us-gaap Payments To Acquire Mortgage Servicing Rights Msr
PaymentsToAcquireMortgageServicingRightsMSR
421012000 usd
CY2023Q1 nly Payments To Acquire Interest In Mortgage Servicing Rights
PaymentsToAcquireInterestInMortgageServicingRights
0 usd
CY2022Q1 nly Payments To Acquire Interest In Mortgage Servicing Rights
PaymentsToAcquireInterestInMortgageServicingRights
4913000 usd
CY2023Q1 us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
18450000000 usd
CY2022Q1 us-gaap Proceeds From Securities Purchased Under Agreements To Resell
ProceedsFromSecuritiesPurchasedUnderAgreementsToResell
2100000000 usd
CY2023Q1 us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
18450000000 usd
CY2022Q1 us-gaap Payments For Securities Purchased Under Agreements To Resell
PaymentsForSecuritiesPurchasedUnderAgreementsToResell
2100000000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1080846000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1631144000 usd
CY2023Q1 nly Proceeds From Repurchase Agreements
ProceedsFromRepurchaseAgreements
1168976892000 usd
CY2022Q1 nly Proceeds From Repurchase Agreements
ProceedsFromRepurchaseAgreements
839715390000 usd
CY2023Q1 nly Principal Payments On Repurchase Agreements
PrincipalPaymentsOnRepurchaseAgreements
1167496471000 usd
CY2022Q1 nly Principal Payments On Repurchase Agreements
PrincipalPaymentsOnRepurchaseAgreements
841845524000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
1007971000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
2293500000 usd
CY2023Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
158983000 usd
CY2022Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
398843000 usd
CY2023Q1 nly Payments From Relief Of Securitized Debt
PaymentsFromReliefOfSecuritizedDebt
1974000 usd
CY2022Q1 nly Payments From Relief Of Securitized Debt
PaymentsFromReliefOfSecuritizedDebt
0 usd
CY2023Q1 nly Proceeds From Participating Mortgage Loans
ProceedsFromParticipatingMortgageLoans
236121000 usd
CY2022Q1 nly Proceeds From Participating Mortgage Loans
ProceedsFromParticipatingMortgageLoans
676499000 usd
CY2023Q1 nly Payments On Repurchase Of Participating Mortgage Loans
PaymentsOnRepurchaseOfParticipatingMortgageLoans
360943000 usd
CY2022Q1 nly Payments On Repurchase Of Participating Mortgage Loans
PaymentsOnRepurchaseOfParticipatingMortgageLoans
888343000 usd
CY2023Q1 us-gaap Other Secured Financings
OtherSecuredFinancings
250000000 usd
CY2023Q1 nly Principal Payments On Participation Mortgage Loans Issued
PrincipalPaymentsOnParticipationMortgageLoansIssued
11168000 usd
CY2022Q1 nly Principal Payments On Participation Mortgage Loans Issued
PrincipalPaymentsOnParticipationMortgageLoansIssued
17370000 usd
CY2023Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
13000000 usd
CY2022Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
24390000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
562709000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6104000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5810000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1977000 usd
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
444067000 usd
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
348080000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2317277000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-784254000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
217459000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-386250000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1576714000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1342090000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1794173000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
955840000 usd
CY2023Q1 us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
746161000 usd
CY2022Q1 us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
565361000 usd
CY2023Q1 nly Interest Paid Excluding Interest Paid On Interest Rate Swaps
InterestPaidExcludingInterestPaidOnInterestRateSwaps
928649000 usd
CY2022Q1 nly Interest Paid Excluding Interest Paid On Interest Rate Swaps
InterestPaidExcludingInterestPaidOnInterestRateSwaps
57138000 usd
CY2023Q1 nly Interest Paid Net Interest Rate Derivative
InterestPaidNetInterestRateDerivative
302041000 usd
CY2022Q1 nly Interest Paid Net Interest Rate Derivative
InterestPaidNetInterestRateDerivative
-66918000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-139000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-677000 usd
CY2023Q1 nly Receivable For Investment Securities Sold
ReceivableForInvestmentSecuritiesSold
679096000 usd
CY2022Q1 nly Receivable For Investment Securities Sold
ReceivableForInvestmentSecuritiesSold
407225000 usd
CY2023Q1 nly Payable For Investment Securities Purchased
PayableForInvestmentSecuritiesPurchased
3259034000 usd
CY2022Q1 nly Payable For Investment Securities Purchased
PayableForInvestmentSecuritiesPurchased
1992568000 usd
CY2023Q1 nly Net Change In Unrealized Gain Loss On Availableforsale Securities And Interest Rate Swaps Net Of Reclassification Adjustment
NetChangeInUnrealizedGainLossOnAvailableforsaleSecuritiesAndInterestRateSwapsNetOfReclassificationAdjustment
1158282000 usd
CY2022Q1 nly Net Change In Unrealized Gain Loss On Availableforsale Securities And Interest Rate Swaps Net Of Reclassification Adjustment
NetChangeInUnrealizedGainLossOnAvailableforsaleSecuritiesAndInterestRateSwapsNetOfReclassificationAdjustment
-3423892000 usd
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
321023000 usd
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
321423000 usd
CY2023Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><tr><td style="width:1.0%"/><td style="width:98.900%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><span style="color:#031f48;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2. BASIS OF PRESENTATION</span></div></td></tr><tr style="height:5pt"><td colspan="3" style="border-top:1pt solid #00316c;padding:0 1pt"/></tr></table></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements and related notes of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements and related notes are unaudited and should be read in conjunction with the audited consolidated financial statements included in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “2022 Form 10-K”). The consolidated financial information as of December 31, 2022 has been derived from audited consolidated financial statements included in the Company’s 2022 Form 10-K.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported balance sheet amounts and/or disclosures at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reverse Stock Split</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 8, 2022, the Company announced that its Board had unanimously approved a reverse stock split of the Company’s common stock at a ratio of 1-for-4 (the “Reverse Stock Split”). The Reverse Stock Split was effective following the close of business on September 23, 2022 (the “Effective Time”). Accordingly, at the Effective Time, every four issued and outstanding shares of the Company’s common stock were converted into one share of the Company’s common stock. No fractional shares were issued in connection with the Reverse Stock Split. Instead, each stockholder that would have held fractional shares as a result of the Reverse Stock Split received cash in lieu of such fractional shares. The par value per share of the Company’s common stock remained unchanged at $0.01 per share after the Reverse Stock Split. Accordingly, for all historical periods presented, an amount equal to the par value of the reduced number of shares resulting from the Reverse Stock Split was reclassified from Common stock to Additional paid in capital in the Company’s Consolidated Statements of Financial Condition. All references made to share or per share amounts in the accompanying consolidated financial statements and disclosures have been retroactively adjusted, where applicable, to reflect the effects of the Reverse Stock Split.</span></div>
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Interest Income - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes interest income primarily on Residential Securities (as defined in the “Securities” Note), residential mortgage loans, commercial investments and reverse repurchase agreements. Interest accrued but not received is recognized as Interest receivable on the Consolidated Statements of Financial Condition. Interest income is presented as a separate line item on the Consolidated Statements of Comprehensive Income (Loss).</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For its securities, the Company recognizes coupon income, which is a component of interest income, based upon the outstanding principal amounts of the financial instruments and their contractual terms. In addition, the Company amortizes or accretes premiums or discounts into interest income for its Agency mortgage-backed securities (other than interest-only securities, multifamily and reverse mortgages), taking into account estimates of future principal prepayments in the calculation of the effective yield.  The Company recalculates the effective yield as differences between anticipated and actual prepayments occur. Using third party model and market information to project future cash flows and expected remaining lives of securities, the effective interest rate determined for each security is applied as if it had been in place from the date of the security’s acquisition. The amortized cost of the security is then adjusted to the amount that would have existed had the new effective yield been applied since the acquisition date, which results in a cumulative premium amortization adjustment in each period. The adjustment to amortized cost is offset with a charge or credit to interest income. Changes in interest rates and other market factors will impact prepayment speed projections and the amount of premium amortization recognized in any given period.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Premiums or discounts associated with the purchase of Agency interest-only securities, reverse mortgages and residential credit securities are amortized or accreted into interest income based upon current expected future cash flows with any adjustment to yield made on a prospective basis.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Premiums or discounts associated with the purchase of multifamily securities are amortized or accreted into interest income based upon their contractual payment terms. If a prepayment occurs, an adjustment is made to the unpaid principal balance and unamortized premium or discount in the current period and the original effective yield continues to be applied.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Premiums and discounts associated with the purchase of residential mortgage loans and with those transferred or pledged to securitization trusts are primarily amortized or accreted into interest income over their estimated remaining lives using the effective interest rates inherent in the estimated cash flows from the mortgage loans. Amortization of premiums and accretion of discounts are presented in Interest income in the Consolidated Statements of Comprehensive Income (Loss). </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If collection of a loan’s principal or interest is in doubt or the loan is 90 days or more past due, interest income is not accrued. For nonaccrual status loans carried at fair value or held for sale, interest is not accrued but is recognized on a cash basis. For nonaccrual status loans carried at amortized cost, if collection of principal is not in doubt but collection of interest is in doubt, interest income is recognized on a cash basis. If collection of principal is in doubt, any interest received is applied against principal until collectability of the remaining balance is no longer in doubt; at that point, any interest income is recognized on a cash basis. Generally, a loan is returned to accrual status when the borrower has resumed paying the full amount of the scheduled contractual obligation, if all principal and interest amounts contractually due are reasonably assured of repayment within a reasonable period of time and there is a sustained period of repayment performance by the borrower.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has made an accounting policy election not to measure an allowance for loans losses for accrued interest receivable. If interest receivable is deemed to be uncollectible or not collected within 90 days of its contractual due date for commercial loans or 120 days for corporate debt carried at amortized cost, it is written off through a reversal of interest income. Any interest written off that is recovered is recognized as interest income.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Refer to the “Interest Income and Interest Expense” Note for further discussion of interest income.</span></div>
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
65789907000 usd
CY2023Q1 nly Paymentsto Acquire Debt Securities Availableforsale Excluding Variable Interest Entity
PaymentstoAcquireDebtSecuritiesAvailableforsaleExcludingVariableInterestEntity
8470557000 usd
CY2023Q1 nly Proceedsfrom Saleof Debt Securities Availableforsale Excluding Variable Interest Entity
ProceedsfromSaleofDebtSecuritiesAvailableforsaleExcludingVariableInterestEntity
5261535000 usd
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
1348975000 usd
CY2023Q1 nly Accretion Amortization Of Debt Securities Available For Sale
AccretionAmortizationOfDebtSecuritiesAvailableForSale
-56209000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1644440000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
69238185000 usd
CY2023Q1 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
90400391000 usd
CY2023Q1 nly Debt Securities Availableforsale Remaining Premium
DebtSecuritiesAvailableforsaleRemainingPremium
2937481000 usd
CY2023Q1 nly Debt Securities Availableforsale Remaining Discount
DebtSecuritiesAvailableforsaleRemainingDiscount
1243353000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
72473602000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
227203000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3462620000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
69238185000 usd
CY2022Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
86183782000 usd
CY2022Q4 nly Debt Securities Availableforsale Remaining Premium
DebtSecuritiesAvailableforsaleRemainingPremium
2943297000 usd
CY2022Q4 nly Debt Securities Availableforsale Remaining Discount
DebtSecuritiesAvailableforsaleRemainingDiscount
1110917000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
70669855000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
83143000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
4963091000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
65789907000 usd
CY2023Q1 nly Mortgage Backed Securities Sold Carrying Value
MortgageBackedSecuritiesSoldCarryingValue
5200000000 usd
CY2022Q1 nly Mortgage Backed Securities Sold Carrying Value
MortgageBackedSecuritiesSoldCarryingValue
2800000000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
4269000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
526117000 usd
CY2023Q1 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
-521848000 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
1565000 usd
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
146056000 usd
CY2022Q1 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
-144491000 usd
CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-200000 usd
CY2022Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
600000 usd
CY2023Q1 nly Noncash Or Part Noncash Financial Instruments Owned And Pledged As Collateral
NoncashOrPartNoncashFinancialInstrumentsOwnedAndPledgedAsCollateral
1100000000 usd
CY2022Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1748209000 usd
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
544562000 usd
CY2023Q1 us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
36630000 usd
CY2022Q1 us-gaap Servicing Asset At Fair Value Additions
ServicingAssetAtFairValueAdditions
421012000 usd
CY2023Q1 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
30207000 usd
CY2022Q1 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
158963000 usd
CY2023Q1 us-gaap Servicing Asset At Fair Value Other Changes That Affect Balance
ServicingAssetAtFairValueOtherChangesThatAffectBalance
-24066000 usd
CY2022Q1 us-gaap Servicing Asset At Fair Value Other Changes That Affect Balance
ServicingAssetAtFairValueOtherChangesThatAffectBalance
-15600000 usd
CY2023Q1 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1790980000 usd
CY2022Q1 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1108937000 usd
CY2023Q1 nly Securitized Debt Of Consolidated Vie Unrealized Gain Loss
SecuritizedDebtOfConsolidatedVIEUnrealizedGainLoss
-211900000 usd
CY2022Q1 nly Securitized Debt Of Consolidated Vie Unrealized Gain Loss
SecuritizedDebtOfConsolidatedVIEUnrealizedGainLoss
298100000 usd
CY2023Q1 us-gaap Derivative Assets
DerivativeAssets
400139000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
342064000 usd
CY2023Q1 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
155801000 usd
CY2022Q4 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
108724000 usd
CY2023Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
473515000 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
204172000 usd
CY2023Q1 nly Gain Loss On Realized Interest Rate Swaps
GainLossOnRealizedInterestRateSwaps
385706000 usd
CY2023Q1 nly Gain Loss On Termination Of Interest Rate Swaps
GainLossOnTerminationOfInterestRateSwaps
-145819000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-956272000 usd
CY2022Q1 nly Gain Loss On Realized Interest Rate Swaps
GainLossOnRealizedInterestRateSwaps
-62541000 usd
CY2022Q1 nly Gain Loss On Termination Of Interest Rate Swaps
GainLossOnTerminationOfInterestRateSwaps
0 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1323439000 usd
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-184367000 usd
CY2022Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
381130000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
16679000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
758000 usd
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
15921000 usd
CY2023Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
61000000000 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
59500000000 usd
CY2023Q1 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P59D
CY2022 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P27D
CY2023Q1 nly Securities Soldunder Agreementsto Repurchase Maximum Available Under Counterparty Arrangements
SecuritiesSoldunderAgreementstoRepurchaseMaximumAvailableUnderCounterpartyArrangements
2000000000 usd
CY2023Q1 nly Securities Soldunder Agreementsto Repurchase Commitments Available
SecuritiesSoldunderAgreementstoRepurchaseCommitmentsAvailable
1300000000 usd
CY2023Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
60993018000 usd
CY2023Q1 nly Repurchase Agreements Weighted Average Rates
RepurchaseAgreementsWeightedAverageRates
0.0503
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
59512597000 usd
CY2022Q4 nly Repurchase Agreements Weighted Average Rates
RepurchaseAgreementsWeightedAverageRates
0.0429
CY2023Q1 nly Repurchase Agreements Maturity Greater Than One Year Percentage
RepurchaseAgreementsMaturityGreaterThanOneYearPercentage
0
CY2022Q4 nly Repurchase Agreements Maturity Greater Than One Year Percentage
RepurchaseAgreementsMaturityGreaterThanOneYearPercentage
0
CY2023Q1 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the gross amounts of reverse repurchase agreements and repurchase agreements, amounts offset in accordance with netting arrangements and net amounts of repurchase agreements and reverse repurchase agreements as presented in the Consolidated Statements of Financial Condition at March 31, 2023 and December 31, 2022. Refer to the “Derivative Instruments” Note for information related to the effect of netting arrangements on the Company’s derivative instruments.</span></div><div style="margin-bottom:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.473%"><tr><td style="width:1.0%"/><td style="width:25.860%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.547%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.616%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.547%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.616%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.547%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.616%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:16.551%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#031f48;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"> </span></td><td colspan="9" style="background-color:#031f48;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31, 2023</span></td><td colspan="3" style="background-color:#031f48;border-top:0.5pt solid #000000;padding:0 1pt"/><td colspan="9" style="background-color:#031f48;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</span></td></tr><tr><td colspan="3" style="background-color:#031f48;border-left:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"> </span></td><td colspan="3" style="background-color:#031f48;border-top:0.5pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reverse Repurchase Agreements</span></td><td colspan="3" style="background-color:#031f48;border-top:0.5pt solid #ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#031f48;border-top:0.5pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repurchase Agreements</span></td><td colspan="3" style="background-color:#031f48;padding:0 1pt"/><td colspan="3" style="background-color:#031f48;border-top:0.5pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reverse Repurchase Agreements</span></td><td colspan="3" style="background-color:#031f48;border-top:0.5pt solid #ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#031f48;border-right:0.5pt solid #000000;border-top:0.5pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Repurchase Agreements</span></td></tr><tr><td colspan="3" style="background-color:#083b92;border-left:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%"> </span></td><td colspan="21" style="background-color:#083b92;border-right:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#ffffff;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(dollars in thousands)</span></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gross amounts</span></td><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,050,000</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">62,043,018</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="padding:0 1pt"/><td style="padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59,512,597 </span></td><td style="border-right:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:0.5pt solid #000000;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts offset</span></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,050,000)</span></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"/><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,050,000)</span></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"/><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"/><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#e5e5e5;border-right:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Netted amounts</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">60,993,018</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59,512,597 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:3pt"><td colspan="24" style="background-color:#ffffff;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0 1pt"/></tr></table></div>
CY2023Q1 nly Securities For Reverse Repurchase Agreements Gross Amounts
SecuritiesForReverseRepurchaseAgreementsGrossAmounts
1050000000 usd
CY2023Q1 nly Securities Sold Under Agreements To Repurchase Gross Amounts
SecuritiesSoldUnderAgreementsToRepurchaseGrossAmounts
62043018000 usd
CY2022Q4 nly Securities For Reverse Repurchase Agreements Gross Amounts
SecuritiesForReverseRepurchaseAgreementsGrossAmounts
0 usd
CY2022Q4 nly Securities Sold Under Agreements To Repurchase Gross Amounts
SecuritiesSoldUnderAgreementsToRepurchaseGrossAmounts
59512597000 usd
CY2023Q1 nly Securities For Reverse Repurchase Agreements Amounts Offset
SecuritiesForReverseRepurchaseAgreementsAmountsOffset
1050000000 usd
CY2023Q1 nly Securities Sold Under Agreements To Repurchase Amounts Offset
SecuritiesSoldUnderAgreementsToRepurchaseAmountsOffset
1050000000 usd
CY2022Q4 nly Securities For Reverse Repurchase Agreements Amounts Offset
SecuritiesForReverseRepurchaseAgreementsAmountsOffset
0 usd
CY2022Q4 nly Securities Sold Under Agreements To Repurchase Amounts Offset
SecuritiesSoldUnderAgreementsToRepurchaseAmountsOffset
0 usd
CY2023Q1 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
0 usd
CY2023Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
60993018000 usd
CY2022Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
0 usd
CY2022Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
59512597000 usd
CY2023Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0754
CY2023Q1 nly Collateral Held On Repurchase Agreements After Effect Of Interest Rate Swaps Fair Value
CollateralHeldOnRepurchaseAgreementsAfterEffectOfInterestRateSwapsFairValue
64000000000 usd
CY2023Q1 nly Repurchase Agreements Accrued Interest
RepurchaseAgreementsAccruedInterest
235800000 usd
CY2022Q4 nly Collateral Held On Repurchase Agreements After Effect Of Interest Rate Swaps Fair Value
CollateralHeldOnRepurchaseAgreementsAfterEffectOfInterestRateSwapsFairValue
62200000000 usd
CY2022Q4 nly Repurchase Agreements Accrued Interest
RepurchaseAgreementsAccruedInterest
226400000 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2936500000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2936500000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
493880938 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
493880938 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
468309810 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
468309810 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1500000000 usd
CY2023Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2022Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
63500000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
63500000 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
63500000 shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
63500000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
63500000 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
63500000 shares
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
1536569000 usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
1536569000 usd
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
25.00
CY2023Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
322499000 usd
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
322197000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.65
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.88
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
321023000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
321423000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.65
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.88
CY2023Q1 nly Interest Income Agency Security Loans
InterestIncomeAgencySecurityLoans
603102000 usd
CY2022Q1 nly Interest Income Agency Security Loans
InterestIncomeAgencySecurityLoans
522951000 usd
CY2023Q1 nly Interest Income Securities Mortgage Backed And Agency Debentures
InterestIncomeSecuritiesMortgageBackedAndAgencyDebentures
53745000 usd
CY2022Q1 nly Interest Income Securities Mortgage Backed And Agency Debentures
InterestIncomeSecuritiesMortgageBackedAndAgencyDebentures
22122000 usd
CY2023Q1 nly Interest Income Residential Mortgage Loans
InterestIncomeResidentialMortgageLoans
147231000 usd
CY2022Q1 nly Interest Income Residential Mortgage Loans
InterestIncomeResidentialMortgageLoans
73488000 usd
CY2023Q1 nly Interest Income Commercial Real Estate Debt And Preferred Equity
InterestIncomeCommercialRealEstateDebtAndPreferredEquity
9887000 usd
CY2022Q1 nly Interest Income Commercial Real Estate Debt And Preferred Equity
InterestIncomeCommercialRealEstateDebtAndPreferredEquity
37283000 usd
CY2023Q1 us-gaap Interest Income Securities Purchased Under Agreements To Resell
InterestIncomeSecuritiesPurchasedUnderAgreementsToResell
4285000 usd
CY2022Q1 us-gaap Interest Income Securities Purchased Under Agreements To Resell
InterestIncomeSecuritiesPurchasedUnderAgreementsToResell
6000 usd
CY2023Q1 us-gaap Interest Income Operating
InterestIncomeOperating
818250000 usd
CY2022Q1 us-gaap Interest Income Operating
InterestIncomeOperating
655850000 usd
CY2023Q1 nly Interest Paid On Repurchase Agreements
InterestPaidOnRepurchaseAgreements
698742000 usd
CY2022Q1 nly Interest Paid On Repurchase Agreements
InterestPaidOnRepurchaseAgreements
26879000 usd
CY2023Q1 nly Interest Expense Securitized Debt Of Consolidated Vie
InterestExpenseSecuritizedDebtOfConsolidatedVie
88934000 usd
CY2022Q1 nly Interest Expense Securitized Debt Of Consolidated Vie
InterestExpenseSecuritizedDebtOfConsolidatedVie
34625000 usd
CY2023Q1 nly Interest Expense Participation Sold
InterestExpenseParticipationSold
11111000 usd
CY2022Q1 nly Interest Expense Participation Sold
InterestExpenseParticipationSold
5852000 usd
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
0 usd
CY2022Q1 us-gaap Interest Expense Other
InterestExpenseOther
7566000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
798787000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
74922000 usd
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
19463000 usd
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
580928000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-839328000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
2023894000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4928000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1639000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-844256000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
2022255000 usd
CY2023Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
31875000 usd
CY2022Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
26883000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-876131000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1995372000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
489688364 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
365340909 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
272082 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
489688364 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
365612991 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.79
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.46
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.79
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.46
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000 shares
CY2023Q1 nly Percentage Of Taxable Income Required To Be Distributed While Operating As Reit
PercentageOfTaxableIncomeRequiredToBeDistributedWhileOperatingAsReit
1
CY2023Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
800000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
800000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
8165000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
10367000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.032
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1005000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3076000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4107000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3149000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
261000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
269000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
22000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10884000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
517000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
10367000 usd
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 usd
CY2023Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 usd

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