2021 Q2 Form 10-Q Financial Statement

#000146574021000093 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q4 2020 Q2
Revenue $43.44M $72.50M $107.3M
YoY Change -59.52% -69.59% -58.88%
Cost Of Revenue $90.76M $46.90M $97.50M
YoY Change -6.91% -77.13% -56.24%
Gross Profit $158.1M $233.2M -$32.80M
YoY Change -582.05% 55.67% -52.67%
Gross Profit Margin 363.95% 321.66% -30.56%
Selling, General & Admin $19.45M $11.20M
YoY Change
% of Gross Profit 12.3% 4.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $34.15M $18.40M $13.80M
YoY Change 147.48% 30.5% -2.13%
Operating Profit $124.0M $214.8M -$46.60M
YoY Change -366.01% 58.29% -44.12%
Interest Expense $24.41M $22.64M $62.11M
YoY Change -60.71% -86.47% -67.72%
% of Operating Profit 19.69% 10.54%
Other Income/Expense, Net -$120.8M $207.5M -$42.66M
YoY Change 183.07% 78.15% -60.32%
Pretax Income -$138.9M $215.0M -$191.7M
YoY Change -27.57% 62.39% 117.5%
Income Tax -$20.90M $3.816M -$18.20M
% Of Pretax Income 1.77%
Net Earnings -$118.0M $211.2M -$173.6M
YoY Change -32.04% 56.68% 91.66%
Net Earnings / Revenue -271.53% 291.31% -161.72%
Basic Earnings Per Share -$0.48 $0.70 -$0.70
Diluted Earnings Per Share -$0.48 $0.68 -$0.70
COMMON SHARES
Basic Shares Outstanding 273.7M shares 273.7M shares 273.6M shares
Diluted Shares Outstanding 273.7M shares 273.6M shares

Balance Sheet

Concept 2021 Q2 2020 Q4 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.281B $1.385B $1.616B
YoY Change -20.72% 148.21% 272.35%
Cash & Equivalents $1.281B $1.385B $1.616B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $31.57M $47.00M $53.00M
Other Receivables $85.18M $147.0M $72.00M
Total Short-Term Assets $1.398B $1.579B $1.741B
YoY Change -19.7% 62.78% 14.92%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.930B $16.34B $19.03B
YoY Change -47.82% -51.28% -40.71%
Other Assets $866.5M $1.262B $435.0M
YoY Change 99.21% 19.17% 21.51%
Total Long-Term Assets $11.10B $17.94B $19.74B
YoY Change -43.75% -48.68% -39.86%
TOTAL ASSETS
Total Short-Term Assets $1.398B $1.579B $1.741B
Total Long-Term Assets $11.10B $17.94B $19.74B
Total Assets $12.50B $19.52B $21.48B
YoY Change -41.8% -45.67% -37.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $17.96M $22.00M $37.00M
YoY Change -51.47% -85.33% -74.66%
Deferred Revenue
YoY Change
Short-Term Debt $8.351B $15.14B $16.99B
YoY Change -50.85% -48.04% -39.03%
Long-Term Debt Due $267.0M
YoY Change
Total Short-Term Liabilities $8.549B $15.37B $17.77B
YoY Change -51.9% -48.23% -37.42%
LONG-TERM LIABILITIES
Long-Term Debt $1.353B $966.0M $681.0M
YoY Change 98.74% -18.76% -33.75%
Other Long-Term Liabilities $116.1M $94.00M $194.0M
YoY Change -40.18% 22.08% 321.74%
Total Long-Term Liabilities $1.470B $1.060B $875.0M
YoY Change 67.94% -16.27% -18.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.549B $15.37B $17.77B
Total Long-Term Liabilities $1.470B $1.060B $875.0M
Total Liabilities $10.02B $16.43B $18.65B
YoY Change -46.27% -46.93% -36.73%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $2.737M $2.737M $2.737M
YoY Change 0.0% 0.29% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.484B $3.089B $2.836B
YoY Change
Total Liabilities & Shareholders Equity $12.50B $19.52B $21.48B
YoY Change -41.8% -45.67% -37.44%

Cashflow Statement

Concept 2021 Q2 2020 Q4 2020 Q2
OPERATING ACTIVITIES
Net Income -$118.0M $211.2M -$173.6M
YoY Change -32.04% 56.68% 91.66%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $213.8M $253.2M $52.20M
YoY Change 309.62% 23.21% -85.57%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $3.258B $1.462B $2.032B
YoY Change 60.34% -142.36% -125.9%
Cash From Investing Activities $3.258B $1.462B $2.032B
YoY Change 60.34% -142.36% -125.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.296B -1.281B -1.921B
YoY Change 71.56% -135.46% -125.63%
NET CHANGE
Cash From Operating Activities 213.8M 253.2M 52.20M
Cash From Investing Activities 3.258B 1.462B 2.032B
Cash From Financing Activities -3.296B -1.281B -1.921B
Net Change In Cash 175.8M 434.4M 162.9M
YoY Change 7.95% 18.56% 1172.66%
FREE CASH FLOW
Cash From Operating Activities $213.8M $253.2M $52.20M
Capital Expenditures
Free Cash Flow
YoY Change

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two Comprehensive Income Loss Attributableto Common Stockholders
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Organization and Operations<div style="margin-top:3pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Two Harbors Investment Corp. is a Maryland corporation that, through its wholly owned subsidiaries (collectively, the Company), invests in and manages Agency residential mortgage-backed securities, or Agency RMBS, mortgage servicing rights, or MSR, and other financial assets. The investment portfolio is managed as a whole and resources are allocated and financial performance is assessed on a consolidated basis. The Company’s common stock is listed on the NYSE under the symbol “TWO”.</span></div><div style="margin-top:3pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has elected to be treated as a real estate investment trust, or REIT, as defined under the Internal Revenue Code of 1986, as amended, or the Code, for U.S. federal income tax purposes. As long as the Company continues to comply with a number of requirements under federal tax law and maintains its qualification as a REIT, the Company generally will not be subject to U.S. federal income taxes to the extent that the Company distributes its taxable income to its stockholders on an annual basis and does not engage in prohibited transactions. However, certain activities that the Company may perform may cause it to earn income which will not be qualifying income for REIT purposes. The Company has designated certain of its subsidiaries as taxable REIT subsidiaries, or TRSs, as defined in the Code, to engage in such activities.</span></div><div style="margin-top:3pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the first quarter of 2020, the Company experienced unprecedented market conditions as a result of the global COVID-19 pandemic, including unusually significant spread widening in both Agency RMBS and non-Agency securities. In response, the Company focused its efforts on raising excess liquidity and de-risking its portfolio. On March 25, 2020, the Company sold substantially all of its non-Agency securities in order to eliminate the risks posed by continued margin calls and ongoing funding concerns associated with the significant spread widening on these assets. The Company also sold approximately one-third of its Agency RMBS in order to reduce risk and raise cash to establish a strong defensive liquidity position to weather potential ongoing economic and market instability. Since then, the Company has focused on the composition of its Agency RMBS and MSR portfolio, deploying risk as the market entered a period of stabilization and asset price recovery. Going forward, management expects the Company’s capital to be fully allocated to its strategy of pairing Agency RMBS and MSR.</span></div><div style="margin-top:3pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Through August 14, 2020, the Company was externally managed and advised by PRCM Advisers LLC, a subsidiary of Pine River Capital Management L.P., under the terms of a Management Agreement between the Company and PRCM Advisers. The Company terminated the Management Agreement effective August 14, 2020 for “cause” in accordance with Section 15(a) thereof. On August 15, 2020, the Company completed its transition to self-management and directly hired the senior management team and other personnel who had historically provided services to the Company.</span></div>
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<div style="margin-top:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:3pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make a number of significant estimates. These include estimates of fair value of certain assets and liabilities, amount and timing of credit losses, prepayment rates, and other estimates that affect the reported amounts of certain assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of certain revenues and expenses during the reported period. It is likely that changes in these estimates (</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">e.g.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, valuation changes due to supply and demand in the market, credit performance, prepayments, interest rates, or other reasons) will occur in the near term. The Company’s estimates are inherently subjective in nature and actual results could differ from its estimates and the differences may be material.</span></div>
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CY2021Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of10 Percent Adverse Change In Other Assumption
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInOtherAssumption
24652000 USD
CY2020Q4 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of10 Percent Adverse Change In Other Assumption
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInOtherAssumption
21708000 USD
CY2021Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Other Assumption
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInOtherAssumption
50105000 USD
CY2020Q4 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Other Assumption
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInOtherAssumption
43527000 USD
CY2021Q2 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
111083000 USD
CY2020Q2 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
104463000 USD
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
216248000 USD
us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
222354000 USD
CY2021Q2 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
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622000 USD
CY2020Q2 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
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476000 USD
us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
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1238000 USD
us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
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997000 USD
CY2021Q2 two Float Income Generatedby Servicing Financial Assets Amount
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1111000 USD
CY2020Q2 two Float Income Generatedby Servicing Financial Assets Amount
FloatIncomeGeneratedbyServicingFinancialAssetsAmount
7952000 USD
two Float Income Generatedby Servicing Financial Assets Amount
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2449000 USD
two Float Income Generatedby Servicing Financial Assets Amount
FloatIncomeGeneratedbyServicingFinancialAssetsAmount
20337000 USD
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112816000 USD
CY2020Q2 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
112891000 USD
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
219935000 USD
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
243688000 USD
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99500000 USD
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80900000 USD
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0.022
CY2020Q4 two Mortgage Servicing Rights Delinquency Rate
MortgageServicingRightsDelinquencyRate
0.032
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PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
29100000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
28500000 USD
CY2021Q2 two Continuing Involvementwith Continuedtobe Recognized Transferred Financial Assets Numberof Loans
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785442 loan
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185891583000 USD
CY2020Q4 two Continuing Involvementwith Continuedtobe Recognized Transferred Financial Assets Numberof Loans
ContinuingInvolvementwithContinuedtobeRecognizedTransferredFinancialAssetsNumberofLoans
783579 loan
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178928983000 USD
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1261667000 USD
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CashAndCashEquivalentsAtCarryingValue
1281230000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1384764000 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
866547000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1261667000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2147777000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2646431000 USD
CY2021Q2 us-gaap Trading Gains Losses
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75960000 USD
CY2020Q2 us-gaap Trading Gains Losses
TradingGainsLosses
29684000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
-215650000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
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19137094000 USD
CY2021Q2 two Derivative Notional Amount Additions
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28743856000 USD
CY2021Q2 two Derivative Notional Amount Settlement Termination Expiration Exercise
DerivativeNotionalAmountSettlementTerminationExpirationExercise
24786024000 USD
CY2021Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
23094926000 USD
CY2021Q2 two Derivative Average Notional Amount
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21581299000 USD
CY2021Q2 us-gaap Gain Loss On Sale Of Derivatives
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42218000 USD
CY2020Q1 us-gaap Derivative Notional Amount
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60549307000 USD
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DerivativeNotionalAmountAdditions
32273324000 USD
CY2020Q2 two Derivative Notional Amount Settlement Termination Expiration Exercise
DerivativeNotionalAmountSettlementTerminationExpirationExercise
84745698000 USD
CY2020Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
8076933000 USD
CY2020Q2 two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
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two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
53628663000 USD
two Derivative Notional Amount Settlement Termination Expiration Exercise
DerivativeNotionalAmountSettlementTerminationExpirationExercise
54466340000 USD
CY2021Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
23094926000 USD
two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
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us-gaap Gain Loss On Sale Of Derivatives
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DerivativeNotionalAmount
48445497000 USD
two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
77807435000 USD
two Derivative Notional Amount Settlement Termination Expiration Exercise
DerivativeNotionalAmountSettlementTerminationExpirationExercise
118175999000 USD
CY2020Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
8076933000 USD
two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
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us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
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2000000000.0 USD
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ServicingAssetAtFairValueAmount
1600000000 USD
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DerivativeAssets
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14200000 USD
CY2021Q2 us-gaap Securities Purchased Under Agreements To Resell Fair Value Of Collateral
SecuritiesPurchasedUnderAgreementsToResellFairValueOfCollateral
66900000 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell Fair Value Of Collateral
SecuritiesPurchasedUnderAgreementsToResellFairValueOfCollateral
89500000 USD
CY2021Q2 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
70000000.0 USD
CY2020Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
91500000 USD
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DerivativeFairValueOfDerivativeAsset
150891000 USD
CY2021Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
90515000 USD
CY2021Q2 us-gaap Derivative Assets
DerivativeAssets
60376000 USD
CY2021Q2 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
14208000 USD
CY2021Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 USD
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DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
46168000 USD
CY2021Q2 us-gaap Securities Purchased Under Agreements To Resell Gross
SecuritiesPurchasedUnderAgreementsToResellGross
70000000 USD
CY2021Q2 us-gaap Securities Purchased Under Agreements To Resell Liability
SecuritiesPurchasedUnderAgreementsToResellLiability
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CY2021Q2 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
70000000 USD
CY2021Q2 us-gaap Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction
0 USD
CY2021Q2 us-gaap Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash
SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash
66893000 USD
CY2021Q2 us-gaap Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
3107000 USD
CY2021Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedGross
220891000 USD
CY2021Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
90515000 USD
CY2021Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowed
130376000 USD
CY2021Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Not Offset Policy Election Deduction
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedNotOffsetPolicyElectionDeduction
14208000 USD
CY2021Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Cash
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedCollateralObligationToReturnCash
66893000 USD
CY2021Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
49275000 USD
CY2021Q2 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
8350622000 USD
CY2021Q2 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 USD
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
8350622000 USD
CY2021Q2 us-gaap Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction
8350622000 USD
CY2021Q2 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
0 USD
CY2021Q2 us-gaap Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
104723000 USD
CY2021Q2 two Overthe Counter Derivatives Categorizedas Level2 Assets Liabilities
OvertheCounterDerivativesCategorizedasLevel2AssetsLiabilities
1
CY2021Q2 two Other Rmbs Classifiedas Derivatives Categorizedas Level2 Assets
OtherRMBSClassifiedasDerivativesCategorizedasLevel2Assets
1
CY2021Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
90515000 USD
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
14208000 USD
CY2020Q4 us-gaap Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction
15143898000 USD
CY2021Q2 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
14208000 USD
CY2021Q2 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
0 USD
CY2021Q2 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2021Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
8455345000 USD
CY2021Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
90515000 USD
CY2021Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
8364830000 USD
CY2021Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Not Offset Policy Election Deduction
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedNotOffsetPolicyElectionDeduction
8364830000 USD
CY2021Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
0 USD
CY2021Q2 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
124023000 USD
CY2020Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
28086000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
95937000 USD
CY2020Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
11058000 USD
CY2020Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 USD
CY2020Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
84879000 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell Gross
SecuritiesPurchasedUnderAgreementsToResellGross
91525000 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell Liability
SecuritiesPurchasedUnderAgreementsToResellLiability
0 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
91525000 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction
0 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash
SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash
89469000 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
2056000 USD
CY2020Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedGross
215548000 USD
CY2020Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
28086000 USD
CY2020Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowed
187462000 USD
CY2020Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Not Offset Policy Election Deduction
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedNotOffsetPolicyElectionDeduction
11058000 USD
CY2020Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Cash
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedCollateralObligationToReturnCash
89469000 USD
CY2020Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
86935000 USD
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
15143898000 USD
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
15143898000 USD
CY2021Q2 two Other Derivatives Categorizedas Level1 Assets Liabilities
OtherDerivativesCategorizedasLevel1AssetsLiabilities
1
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
0 USD
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
39144000 USD
CY2020Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
28086000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
11058000 USD
CY2020Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
11058000 USD
CY2020Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
0 USD
CY2020Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2020Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
15183042000 USD
CY2020Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
28086000 USD
CY2020Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
15154956000 USD
CY2020Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Not Offset Policy Election Deduction
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedNotOffsetPolicyElectionDeduction
15154956000 USD
CY2020Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
0 USD
CY2020Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2021Q2 two Debt Securities Availableforsale Categorizedas Level2 Assets
DebtSecuritiesAvailableforsaleCategorizedasLevel2Assets
0.999
CY2021Q2 two Debt Securities Available For Sale Categorized As Level3 Assets
DebtSecuritiesAvailableForSaleCategorizedAsLevel3Assets
0.001
CY2021Q2 two Assets Reportedat Fair Value Debt Securities Availableforsale
AssetsReportedatFairValueDebtSecuritiesAvailableforsale
0.790
CY2021Q2 two Mortgage Servicing Rights Categorized As Level3 Assets
MortgageServicingRightsCategorizedAsLevel3Assets
1
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
7840046000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
7840046000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
14650922000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
14650922000 USD
CY2021Q2 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2020106000 USD
CY2021Q2 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2020106000 USD
CY2020Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1596153000 USD
CY2020Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1596153000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1281230000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1281230000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1384764000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1384764000 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
866547000 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
866547000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1261667000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1261667000 USD
CY2021Q2 us-gaap Derivative Assets
DerivativeAssets
60376000 USD
CY2021Q2 us-gaap Derivative Assets
DerivativeAssets
60376000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
95937000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
95937000 USD
CY2021Q2 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
70000000 USD
CY2021Q2 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
70000000 USD
CY2020Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
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CY2020Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
91525000 USD
CY2021Q2 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
3338000 USD
CY2021Q2 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
3338000 USD
CY2020Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
13292000 USD
CY2020Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
13292000 USD
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
8350622000 USD
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
8350622000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
15143898000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
15143898000 USD
CY2021Q2 two Revolving Credit Facilities
RevolvingCreditFacilities
533519000 USD
CY2021Q2 two Revolving Credit Facilities
RevolvingCreditFacilities
533519000 USD
CY2020Q4 two Revolving Credit Facilities
RevolvingCreditFacilities
283830000 USD
CY2020Q4 two Revolving Credit Facilities
RevolvingCreditFacilities
283830000 USD
CY2021Q2 us-gaap Medium Term Notes
MediumTermNotes
396183000 USD
CY2021Q2 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
394211000 USD
CY2020Q4 us-gaap Medium Term Notes
MediumTermNotes
395609000 USD
CY2020Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
380000000 USD
CY2021Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
423742000 USD
CY2021Q2 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
457549000 USD
CY2020Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
286183000 USD
CY2020Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
291376000 USD
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
14208000 USD
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
14208000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
11058000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
11058000 USD
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
8400000000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
15100000000 USD
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0028
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0028
us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P78D
CY2020 us-gaap Repurchase Agreement Counterparty Weighted Average Maturity Of Agreements1
RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
P58D
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
8350622000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
15143898000 USD
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
8350622000 USD
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0028
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
15143898000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Interest Rate
AssetsSoldUnderAgreementsToRepurchaseInterestRate
0.0028
CY2021Q2 us-gaap Assets Sold Under Agreements To Repurchase Market Value
AssetsSoldUnderAgreementsToRepurchaseMarketValue
8861492000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Market Value
AssetsSoldUnderAgreementsToRepurchaseMarketValue
15787325000 USD
CY2021Q2 two Repurchase Agreement Counterparty Percent Of Equity At Risk
RepurchaseAgreementCounterpartyPercentOfEquityAtRisk
0.10
CY2021Q2 two Revolving Credit Facilities
RevolvingCreditFacilities
533500000 USD
CY2020Q4 two Revolving Credit Facilities
RevolvingCreditFacilities
283800000 USD
CY2021Q2 us-gaap Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
0.0368
CY2020Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
0.0295
us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P1Y2M12D
CY2020 us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P1Y1M6D
CY2021Q2 two Revolving Credit Facilities
RevolvingCreditFacilities
533519000 USD
CY2020Q4 two Revolving Credit Facilities
RevolvingCreditFacilities
283830000 USD
CY2021Q2 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
29100000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
28500000 USD
CY2021Q2 us-gaap Medium Term Notes
MediumTermNotes
396200000 USD
CY2020Q4 us-gaap Medium Term Notes
MediumTermNotes
395600000 USD
CY2021Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0289
CY2020Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0295
us-gaap Debt Instrument Term
DebtInstrumentTerm
P3Y
CY2020 us-gaap Debt Instrument Term
DebtInstrumentTerm
P3Y6M
CY2021Q2 two Pledged Assets Not Separately Reported Nonsecuritized Investments Underlying Loan Coupon
PledgedAssetsNotSeparatelyReportedNonsecuritizedInvestmentsUnderlyingLoanCoupon
0.0353
CY2021Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2020Q4 two Pledged Assets Not Separately Reported Nonsecuritized Investments Underlying Loan Coupon
PledgedAssetsNotSeparatelyReportedNonsecuritizedInvestmentsUnderlyingLoanCoupon
0.0403
CY2021Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
423700000 USD
CY2020Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
286200000 USD
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
29050000 shares
CY2021Q2 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
702550000 USD
CY2021Q2 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2021Q2 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2021Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
273718311 shares
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11300000 USD
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3750000 shares
CY2021Q2 two Stock Issued And Outstanding Shares Dividend Reinvestment Plan
StockIssuedAndOutstandingSharesDividendReinvestmentPlan
358231 shares
CY2021Q2 two Stock Issued And Outstanding Value Dividend Reinvestment Plan
StockIssuedAndOutstandingValueDividendReinvestmentPlan
5500000 USD
CY2021Q2 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
12363 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
27018 shares
CY2021Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
100000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
200000 USD
CY2020Q2 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
20263 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
36761 shares
CY2020Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
100000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
200000 USD
CY2021Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
37500000 shares
CY2021Q2 two Stock Repurchase Program Numberof Shares Repurchasedand Retiredto Date
StockRepurchaseProgramNumberofSharesRepurchasedandRetiredtoDate
12174300 shares
CY2021Q2 two Stock Repurchase Program Valueof Shares Repurchasedand Retiredto Date
StockRepurchaseProgramValueofSharesRepurchasedandRetiredtoDate
201500000 USD
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
105300 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1100000 USD
CY2021Q2 two At Market Offering Number Of Shares Authorized To Be Sold
AtMarketOfferingNumberOfSharesAuthorizedToBeSold
35000000 shares
CY2021Q2 two Stock Issued And Outstanding Shares At Market Offering
StockIssuedAndOutstandingSharesAtMarketOffering
7490235 shares
CY2021Q2 two Stock Issued And Outstanding Value At Market Offering
StockIssuedAndOutstandingValueAtMarketOffering
128600000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
326237000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
661734000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
18988000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
20133000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
307249000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
641601000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y2M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.098
two Share Based Compensation Arrangement By Share Based Payment Award Der Payment Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardDERPaymentPeriod
P60D
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4600000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6400000 USD
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2300000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4600000 USD
CY2020Q3 two Management Agreement Termination Fee Factor
ManagementAgreementTerminationFeeFactor
3 numberOfPositions
two Management Agreement Termination Fee Period
ManagementAgreementTerminationFeePeriod
P24M
CY2020Q3 us-gaap Restructuring Charges
RestructuringCharges
-139800000 USD
CY2020 us-gaap Restructuring Charges
RestructuringCharges
5700000 USD
CY2020Q2 us-gaap Restructuring Charges
RestructuringCharges
145100000 USD
us-gaap Restructuring Charges
RestructuringCharges
145800000 USD
CY2021Q2 two Percentof Reit Taxable Incometo Distribute
PercentofREITTaxableIncometoDistribute
1
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-20900000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1800000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-18200000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-31300000 USD
CY2021Q2 us-gaap Profit Loss
ProfitLoss
-117960000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-173564000 USD
us-gaap Profit Loss
ProfitLoss
122197000 USD
us-gaap Profit Loss
ProfitLoss
-2043220000 USD
CY2021Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
13747000 USD
CY2020Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
18951000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
30963000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
37901000 USD
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
227000 USD
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
484000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-131934000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-192515000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
90750000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2081121000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273718561 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273604079 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273714684 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273498347 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.61
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-131934000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-192515000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
90750000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2081121000 USD
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
-11000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2021Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2020Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
7908000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-131934000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-192515000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
98647000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2081121000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273718561 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273604079 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273714684 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273498347 shares
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
32284519 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
273718561 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
273604079 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
305999203 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
273498347 shares
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.48
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.61

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