2021 Q4 Form 10-K Financial Statement

#000146574022000018 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $55.59M $168.6M $72.50M
YoY Change -23.32% -67.89% -69.59%
Cost Of Revenue $41.74M $175.4M $46.90M
YoY Change -11.0% -56.93% -77.13%
Gross Profit $13.85M $255.2M $233.2M
YoY Change -94.06% -116.01% 55.67%
Gross Profit Margin 24.92% 151.38% 321.66%
Selling, General & Admin $6.396M $35.04M $11.20M
YoY Change -42.89% -7.05%
% of Gross Profit 46.17% 13.73% 4.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $13.04M $63.80M $18.40M
YoY Change -29.11% -3.77% 30.5%
Operating Profit $810.0K $191.4M $214.8M
YoY Change -99.62% -111.53% 58.29%
Interest Expense $89.17M $22.64M
YoY Change -68.29% -86.47%
% of Operating Profit 46.59% 10.54%
Other Income/Expense, Net $262.0M $207.5M
YoY Change -115.31% 78.15%
Pretax Income $810.0K $191.4M $215.0M
YoY Change -99.62% -111.49% 62.39%
Income Tax $2.104M $4.192M $3.816M
% Of Pretax Income 259.75% 2.19% 1.77%
Net Earnings -$1.294M $187.2M $211.2M
YoY Change -100.61% -111.49% 56.68%
Net Earnings / Revenue -2.33% 111.05% 291.31%
Basic Earnings Per Share $0.43 $0.70
Diluted Earnings Per Share -$3.857K $0.43 $0.68
COMMON SHARES
Basic Shares Outstanding 343.9M shares 297.8M shares 273.7M shares
Diluted Shares Outstanding 298.0M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.154B $1.154B $1.385B
YoY Change -16.69% -16.69% 148.21%
Cash & Equivalents $1.154B $1.154B $1.385B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $26.27M $26.27M $47.00M
Other Receivables $168.4M $168.4M $147.0M
Total Short-Term Assets $1.349B $1.349B $1.579B
YoY Change -14.59% -14.59% 62.78%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.488B $9.488B $16.34B
YoY Change -41.93% -41.93% -51.28%
Other Assets $934.8M $934.8M $1.262B
YoY Change -25.93% -25.93% 19.17%
Total Long-Term Assets $10.77B $10.77B $17.94B
YoY Change -39.98% -39.98% -48.68%
TOTAL ASSETS
Total Short-Term Assets $1.349B $1.349B $1.579B
Total Long-Term Assets $10.77B $10.77B $17.94B
Total Assets $12.11B $12.11B $19.52B
YoY Change -37.93% -37.93% -45.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $18.38M $18.38M $22.00M
YoY Change -16.45% -16.45% -85.33%
Deferred Revenue
YoY Change
Short-Term Debt $7.656B $7.656B $15.14B
YoY Change -49.44% -49.44% -48.04%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.944B $7.944B $15.37B
YoY Change -48.31% -48.31% -48.23%
LONG-TERM LIABILITIES
Long-Term Debt $1.242B $1.242B $966.0M
YoY Change 28.61% 28.61% -18.76%
Other Long-Term Liabilities $184.1M $184.1M $94.00M
YoY Change 95.87% 95.87% 22.08%
Total Long-Term Liabilities $1.426B $1.426B $1.060B
YoY Change 34.57% 34.57% -16.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.944B $7.944B $15.37B
Total Long-Term Liabilities $1.426B $1.426B $1.060B
Total Liabilities $9.370B $9.370B $16.43B
YoY Change -42.96% -42.96% -46.93%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.439M $2.737M
YoY Change 25.65% 0.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.744B $2.744B $3.089B
YoY Change
Total Liabilities & Shareholders Equity $12.11B $12.11B $19.52B
YoY Change -37.93% -37.93% -45.67%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.294M $187.2M $211.2M
YoY Change -100.61% -111.49% 56.68%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $43.46M $423.5M $253.2M
YoY Change -82.83% -32.95% 23.21%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$474.2M -$10.00M $1.462B
YoY Change -132.43% 298.72% -142.36%
Cash From Investing Activities -$474.2M $6.314B $1.462B
YoY Change -132.43% -57.64% -142.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$450.6M
YoY Change -65215.9%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 659.2M -$7.295B -1.281B
YoY Change -151.46% -49.71% -135.46%
NET CHANGE
Cash From Operating Activities 43.46M $423.5M 253.2M
Cash From Investing Activities -474.2M $6.314B 1.462B
Cash From Financing Activities 659.2M -$7.295B -1.281B
Net Change In Cash 228.5M -$557.8M 434.4M
YoY Change -47.4% -154.17% 18.56%
FREE CASH FLOW
Cash From Operating Activities $43.46M $423.5M $253.2M
Capital Expenditures
Free Cash Flow
YoY Change

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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. Late in the first quarter of 2020, the U.S. Federal Reserve, or the Fed, committed to unlimited purchases of Agency RMBS. The Fed’s actions were successful in helping to stabilize that market; however, the resulting historic spread tightening in the first half of 2021 made investments in Agency RMBS less attractive. As a result, and in anticipation of an accelerated tapering of Fed purchases, the Company reduced its aggregate Agency RMBS/TBA position during the year ended December 31, 2021. In the ordinary course of business, management makes investment decisions and allocates capital in accordance with its views on the changing risk/reward dynamics in the market and in the Company’s portfolio. 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, the period of time during which the Company anticipates an increase in the fair values of real estate securities sufficient to recover unrealized losses in those securities, and other estimates that affect the reported amounts of certain assets and liabilities as of the date of the 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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1909444000 USD
CY2021Q4 us-gaap Pledged Assets Not Separately Reported Nonsecuritized Investments
PledgedAssetsNotSeparatelyReportedNonsecuritizedInvestments
2100000000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Nonsecuritized Investments
PledgedAssetsNotSeparatelyReportedNonsecuritizedInvestments
1100000000 USD
CY2021Q4 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 Prepayment Speed
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed
110222000 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 Prepayment Speed
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed
121973000 USD
CY2021Q4 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 Prepayment Speed
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed
210406000 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 Prepayment Speed
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed
229676000 USD
CY2021Q4 two Sensitivity Analysisof Fair Value Transferors Interestsin Transferred Financial Assets Impactof10 Percent Adverse Changein Delinquency
SensitivityAnalysisofFairValueTransferorsInterestsinTransferredFinancialAssetsImpactof10PercentAdverseChangeinDelinquency
3470000 USD
CY2020Q4 two Sensitivity Analysisof Fair Value Transferors Interestsin Transferred Financial Assets Impactof10 Percent Adverse Changein Delinquency
SensitivityAnalysisofFairValueTransferorsInterestsinTransferredFinancialAssetsImpactof10PercentAdverseChangeinDelinquency
2038000 USD
CY2021Q4 two Sensitivity Analysisof Fair Value Transferors Interestsin Transferred Financial Assets Impactof20 Percent Adverse Changein Delinquency
SensitivityAnalysisofFairValueTransferorsInterestsinTransferredFinancialAssetsImpactof20PercentAdverseChangeinDelinquency
6947000 USD
CY2020Q4 two Sensitivity Analysisof Fair Value Transferors Interestsin Transferred Financial Assets Impactof20 Percent Adverse Changein Delinquency
SensitivityAnalysisofFairValueTransferorsInterestsinTransferredFinancialAssetsImpactof20PercentAdverseChangeinDelinquency
4161000 USD
CY2021Q4 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 Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate
42188000 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 Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate
28678000 USD
CY2021Q4 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 Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate
82126000 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 Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate
56211000 USD
CY2021Q4 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
25919000 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
CY2021Q4 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
51911000 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
CY2021 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
461381000 USD
CY2020 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
416936000 USD
CY2019 us-gaap Contractually Specified Servicing Fees Amount
ContractuallySpecifiedServicingFeesAmount
436587000 USD
CY2021 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
2436000 USD
CY2020 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
1945000 USD
CY2019 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
1801000 USD
CY2021 two Float Income Generatedby Servicing Financial Assets Amount
FloatIncomeGeneratedbyServicingFinancialAssetsAmount
4589000 USD
CY2020 two Float Income Generatedby Servicing Financial Assets Amount
FloatIncomeGeneratedbyServicingFinancialAssetsAmount
24470000 USD
CY2019 two Float Income Generatedby Servicing Financial Assets Amount
FloatIncomeGeneratedbyServicingFinancialAssetsAmount
63224000 USD
CY2021 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
468406000 USD
CY2020 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
443351000 USD
CY2019 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
501612000 USD
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
130600000 USD
CY2020Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
80900000 USD
CY2021Q4 two Mortgage Servicing Rights Delinquency Rate
MortgageServicingRightsDelinquencyRate
0.013
CY2020Q4 two Mortgage Servicing Rights Delinquency Rate
MortgageServicingRightsDelinquencyRate
0.032
CY2021Q4 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
33800000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments
28500000 USD
CY2021Q4 two Continuing Involvementwith Continuedtobe Recognized Transferred Financial Assets Numberof Loans
ContinuingInvolvementwithContinuedtobeRecognizedTransferredFinancialAssetsNumberofLoans
797075 loan
CY2021Q4 us-gaap Securitized Assets And Any Other Financial Assets Managed Together Principal Amount Outstanding
SecuritizedAssetsAndAnyOtherFinancialAssetsManagedTogetherPrincipalAmountOutstanding
194289876000 USD
CY2020Q4 two Continuing Involvementwith Continuedtobe Recognized Transferred Financial Assets Numberof Loans
ContinuingInvolvementwithContinuedtobeRecognizedTransferredFinancialAssetsNumberofLoans
783579 loan
CY2020Q4 us-gaap Securitized Assets And Any Other Financial Assets Managed Together Principal Amount Outstanding
SecuritizedAssetsAndAnyOtherFinancialAssetsManagedTogetherPrincipalAmountOutstanding
178928983000 USD
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2200000000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
934814000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1261667000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1153856000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1384764000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
934814000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1261667000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2088670000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2646431000 USD
CY2021 us-gaap Trading Gains Losses
TradingGainsLosses
-209192000 USD
CY2020 us-gaap Trading Gains Losses
TradingGainsLosses
-220783000 USD
CY2019 us-gaap Trading Gains Losses
TradingGainsLosses
151709000 USD
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
23932603000 USD
CY2021 two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
107111076000 USD
CY2021 two Derivative Notional Amount Settlement Termination Expiration Exercise
DerivativeNotionalAmountSettlementTerminationExpirationExercise
113883878000 USD
CY2021Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
17159801000 USD
CY2021 two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
20332439000 USD
CY2021 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-259947000 USD
CY2019Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
48445497000 USD
CY2020 two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
137123540000 USD
CY2020 two Derivative Notional Amount Settlement Termination Expiration Exercise
DerivativeNotionalAmountSettlementTerminationExpirationExercise
161636434000 USD
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
23932603000 USD
CY2021Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
134700000 USD
CY2020 two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
35028650000 USD
CY2020 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-332446000 USD
CY2020Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
1600000000 USD
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
80100000 USD
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
53700000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Fair Value Of Collateral
SecuritiesPurchasedUnderAgreementsToResellFairValueOfCollateral
129200000 USD
CY2020Q4 us-gaap Securities Purchased Under Agreements To Resell Fair Value Of Collateral
SecuritiesPurchasedUnderAgreementsToResellFairValueOfCollateral
89500000 USD
CY2020Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
91500000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
215084000 USD
CY2021Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
134950000 USD
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
80134000 USD
CY2021Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
53658000 USD
CY2021Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 USD
CY2021Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
26476000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Gross
SecuritiesPurchasedUnderAgreementsToResellGross
134682000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Liability
SecuritiesPurchasedUnderAgreementsToResellLiability
0 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
134682000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesPurchasedUnderAgreementsToResellNotOffsetPolicyElectionDeduction
0 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Collateral Obligation To Return Cash
SecuritiesPurchasedUnderAgreementsToResellCollateralObligationToReturnCash
129227000 USD
CY2021Q4 us-gaap Securities Purchased Under Agreements To Resell Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesPurchasedUnderAgreementsToResellOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
5455000 USD
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedGross
349766000 USD
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
134950000 USD
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowed
214816000 USD
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Not Offset Policy Election Deduction
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedNotOffsetPolicyElectionDeduction
53658000 USD
CY2021Q4 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Collateral Obligation To Return Cash
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedCollateralObligationToReturnCash
129227000 USD
CY2021Q4 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
31931000 USD
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Gross
SecuritiesSoldUnderAgreementsToRepurchaseGross
7656445000 USD
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Asset
SecuritiesSoldUnderAgreementsToRepurchaseAsset
0 USD
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
7656445000 USD
CY2021Q4 us-gaap Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction
7656445000 USD
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Cash
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimCash
0 USD
CY2021Q4 us-gaap Securities Sold Under Agreements To Repurchase Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesSoldUnderAgreementsToRepurchaseOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
188608000 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
134950000 USD
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
53658000 USD
CY2021Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
53658000 USD
CY2021Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
0 USD
CY2021Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
0 USD
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Gross
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedGross
7845053000 USD
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Asset
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedAsset
134950000 USD
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoaned
7710103000 USD
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Not Offset Policy Election Deduction
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedNotOffsetPolicyElectionDeduction
7710103000 USD
CY2021Q4 us-gaap Derivative Liability Securities Sold Under Agreements To Resell Securities Loaned Collateral Right To Reclaim Cash
DerivativeLiabilitySecuritiesSoldUnderAgreementsToResellSecuritiesLoanedCollateralRightToReclaimCash
0 USD
CY2021Q4 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
CY2020Q4 us-gaap Securities Sold Under Agreements To Resell Not Offset Policy Election Deduction
SecuritiesSoldUnderAgreementsToResellNotOffsetPolicyElectionDeduction
15143898000 USD
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
CY2021Q4 two Other Rmbs Classifiedas Derivatives Categorizedas Level2 Assets
OtherRMBSClassifiedasDerivativesCategorizedasLevel2Assets
1
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
CY2021Q4 two Debt Securities Availableforsale Categorizedas Level2 Assets
DebtSecuritiesAvailableforsaleCategorizedasLevel2Assets
0.998
CY2021Q4 two Debt Securities Available For Sale Categorized As Level3 Assets
DebtSecuritiesAvailableForSaleCategorizedAsLevel3Assets
0.002
CY2021Q4 two Assets Reportedat Fair Value Debt Securities Availableforsale
AssetsReportedatFairValueDebtSecuritiesAvailableforsale
0.759
CY2021Q4 two Mortgage Servicing Rights Categorized As Level3 Assets
MortgageServicingRightsCategorizedAsLevel3Assets
1
CY2021Q4 two Overthe Counter Derivatives Categorizedas Level2 Assets Liabilities
OvertheCounterDerivativesCategorizedasLevel2AssetsLiabilities
1
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
7656445000 USD
CY2021Q4 two Other Derivatives Categorizedas Level1 Assets Liabilities
OtherDerivativesCategorizedasLevel1AssetsLiabilities
1
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
7161703000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
7161703000 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
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2191578000 USD
CY2021Q4 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
2191578000 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
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1153856000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1153856000 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
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
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934814000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
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934814000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
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1261667000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
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1261667000 USD
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CY2021Q4 us-gaap Derivative Assets
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80134000 USD
CY2020Q4 us-gaap Derivative Assets
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CY2020Q4 us-gaap Derivative Assets
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95937000 USD
CY2021Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
134682000 USD
CY2021Q4 us-gaap Securities For Reverse Repurchase Agreements
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134682000 USD
CY2020Q4 us-gaap Securities For Reverse Repurchase Agreements
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3332000 USD
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3332000 USD
CY2020Q4 us-gaap Other Assets Fair Value Disclosure
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13292000 USD
CY2020Q4 us-gaap Other Assets Fair Value Disclosure
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13292000 USD
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7656445000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
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15143898000 USD
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15143898000 USD
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CY2021Q4 two Revolving Credit Facilities
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420761000 USD
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CY2020Q4 two Revolving Credit Facilities
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CY2021Q4 us-gaap Derivative Liabilities
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53658000 USD
CY2020Q4 us-gaap Derivative Liabilities
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11058000 USD
CY2020Q4 us-gaap Derivative Liabilities
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11058000 USD
CY2021Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
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7700000000 USD
CY2020Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
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15100000000 USD
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P67D
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P58D
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7656445000 USD
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15143898000 USD
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7656445000 USD
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15143898000 USD
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7656445000 USD
CY2021Q4 us-gaap Repurchase Agreement Counterparty Amount At Risk
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15143898000 USD
CY2020Q4 us-gaap Repurchase Agreement Counterparty Amount At Risk
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19 numberOfPositions
CY2020Q4 two Number Of Repurchase Agreement Counterparties With Amount At Risk Less Than10 Percent Of Stockholders Equity
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CY2020Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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P1Y2M12D
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P1Y1M6D
CY2021Q4 two Pledged Assets Not Separately Reported Nonsecuritized Investments Underlying Loan Coupon
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33800000 USD
CY2020Q4 us-gaap Pledged Assets Not Separately Reported Other Financial Instruments
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CY2021Q4 us-gaap Medium Term Notes
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CY2020Q4 us-gaap Medium Term Notes
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CY2020Q4 us-gaap Debt Weighted Average Interest Rate
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P2Y6M
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CY2021Q1 us-gaap Preferred Stock Liquidation Preference
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CY2021Q4 us-gaap Preferred Stock Liquidation Preference
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CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
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40000000 shares
CY2021Q3 us-gaap Shares Issued Price Per Share
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CY2021Q3 us-gaap Stock Issued During Period Value New Issues
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CY2021Q3 two Over Allotment Option Period In Force
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P30D
CY2021Q4 us-gaap Stock Issued During Period Shares New Issues
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CY2021Q4 two Over Allotment Option Period In Force
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P30D
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CY2021Q1 us-gaap Preferred Stock Liquidation Preference
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CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2021Q4 two Stock Issued And Outstanding Shares Dividend Reinvestment Plan
StockIssuedAndOutstandingSharesDividendReinvestmentPlan
384032 shares
CY2021Q4 two Stock Issued And Outstanding Value Dividend Reinvestment Plan
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CY2021 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
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CY2020 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
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CY2019 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
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CY2021 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
400000 USD
CY2020 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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400000 USD
CY2019 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2021Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
37500000 shares
CY2021Q4 two Stock Repurchase Program Numberof Shares Repurchasedand Retiredto Date
StockRepurchaseProgramNumberofSharesRepurchasedandRetiredtoDate
12174300 shares
CY2021Q4 two Stock Repurchase Program Valueof Shares Repurchasedand Retiredto Date
StockRepurchaseProgramValueofSharesRepurchasedandRetiredtoDate
201500000 USD
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105300 shares
CY2019 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1500 shares
CY2020 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1100000 USD
CY2019 us-gaap Stock Repurchased And Retired During Period Value
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19000 USD
CY2021Q4 two At Market Offering Number Of Shares Authorized To Be Sold
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35000000 shares
CY2021Q4 two Stock Issued And Outstanding Shares At Market Offering
StockIssuedAndOutstandingSharesAtMarketOffering
7502435 shares
CY2021Q4 two Stock Issued And Outstanding Value At Market Offering
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128700000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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208619000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
661734000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
22273000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
20133000 USD
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9700000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
6500000 USD
CY2021 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y1M6D
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IncomeTaxExpenseBenefit
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CY2020Q3 two Management Agreement Termination Fee Factor
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1
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
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CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
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CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
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CY2021 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2020 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
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CY2019 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5960000 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021Q4 us-gaap Operating Loss Carryforwards
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CY2021Q4 us-gaap Tax Credit Carryforward Amount
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0
CY2021 us-gaap Income Tax Reconciliation Tax Exempt Income
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021Q4 two Federal Income Taxes Receivable Payable
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CY2020Q4 two Federal Income Taxes Receivable Payable
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CY2020Q4 two State And Local Income Taxes Receivable Payable
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CY2021Q4 us-gaap Income Taxes Receivable
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951000 USD
CY2020Q4 us-gaap Income Taxes Receivable
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22504000 USD
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64024000 USD
CY2021Q4 us-gaap Deferred Income Tax Liabilities Net
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200000 USD
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58064000 USD
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64024000 USD
CY2021Q4 two Total Current And Deferred Tax Assets Liabilities
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26382000 USD
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64024000 USD
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58064000 USD
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64024000 USD
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75802000 USD
CY2019 us-gaap Preferred Stock Dividends Income Statement Impact
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75801000 USD
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731000 USD
CY2020 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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0 USD
CY2019 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
0 USD
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
128038000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1705937000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
248161000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
297772001 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273600947 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
267826739 shares
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.24
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
128038000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1705937000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
248161000 USD
CY2021 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2020 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2019 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
0 USD
CY2021 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 USD
CY2020 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 USD
CY2019 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 USD
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
128038000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1705937000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
248161000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
297772001 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
273600947 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
267826739 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
271537 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2020 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2019 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
298043538 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
273600947 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
267826739 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.24
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.93
CY2019 two Antidilutive Securities Excludedfrom Computationof Earnings Per Share Interest Expense
AntidilutiveSecuritiesExcludedfromComputationofEarningsPerShareInterestExpense
19000000 USD

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