Print Page     Close Window     

SEC Filings

10-K
AGNC INVESTMENT CORP. filed this Form 10-K on 02/25/2015
Entire Document
 


AMERICAN CAPITAL AGENCY CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions) 
 
For the year ended December 31,
 
2014
 
2013
 
2012
Operating activities:
 
 
 
 
 
Net income
$
(233
)
 
$
1,259

 
$
1,277

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
Amortization of agency securities premiums and discounts, net
472

 
517

 
667

Amortization of accumulated other comprehensive loss on interest rate swaps de-designated as qualifying hedges
156

 
189

 
205

(Gain) loss on sale of agency securities, net
(51
)
 
1,408

 
(1,196
)
Loss (gain) on derivative instruments and other securities, net
1,243

 
(1,191
)
 
1,353

Decrease (increase) in other assets
55

 
(24
)
 
(76
)
Increase (decrease) in accounts payable and other accrued liabilities
(18
)
 
325

 
86

Accretion of discounts on debt of consolidated variable interest entities
(2
)
 
18

 
5

Net cash provided by operating activities
1,622

 
2,501

 
2,321

Investing activities:
 
 
 
 
 
Purchases of agency securities
(26,349
)
 
(76,892
)
 
(104,703
)
Proceeds from sale of agency securities
30,587

 
79,456

 
65,249

Principal collections on agency securities
7,358

 
10,589

 
9,576

Purchases of U.S. Treasury securities
(51,511
)
 
(68,261
)
 
(28,196
)
Proceeds from sale of U.S. Treasury securities
56,068

 
54,952

 
39,012

Net (payments on) proceeds from reverse repurchase agreements
(3,337
)
 
9,937

 
(11,055
)
Net proceeds from (payments on) other derivative instruments
313

 
(1,007
)
 
(1,001
)
Purchases of REIT equity securities
(234
)
 
(197
)
 

Proceeds from sale of REIT equity securities
416

 

 

(Increase) decrease in restricted cash
(612
)
 
298

 
(63
)
Other investing cash flows, net
(350
)
 

 

Net cash provided by (used in) investing activities
12,349

 
8,875

 
(31,181
)
Financing activities:
 
 
 
 
 
Proceeds from repurchase arrangements
291,736

 
564,971

 
404,853

Repayments on repurchase agreements
(304,973
)
 
(575,916
)
 
(378,056
)
Proceeds from debt of consolidated variable interest entities

 
203

 
1,000

Repayments on debt of consolidated variable interest entities
(158
)
 
(209
)
 
(150
)
Net proceeds from preferred stock issuance
169

 

 
167

Net proceeds from common stock issuance

 
1,803

 
3,601

Payments for common stock repurchases
(74
)
 
(856
)
 
(77
)
Cash dividends paid
(1,094
)
 
(1,659
)
 
(1,415
)
Net cash (used in) provided by financing activities
(14,394
)
 
(11,663
)
 
29,923

Net change in cash and cash equivalents
(423
)
 
(287
)
 
1,063

Cash and cash equivalents at beginning of period
2,143

 
2,430

 
1,367

Cash and cash equivalents at end of period
$
1,720

 
$
2,143

 
$
2,430

 
 
 
 
 
 
Supplemental disclosure to cash flow information:
 
 
 
 
 
Interest paid
$
217

 
$
347

 
$
256

Taxes paid
$
3

 
$
25

 
$
10

See accompanying notes to consolidated financial statements.

80


© AGNC Investment Corp All Rights Reserved