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SEC Filings

10-Q
AGNC INVESTMENT CORP. filed this Form 10-Q on 05/06/2015
Entire Document
 


 
 
Three Months Ended March 31,
Statement of Comprehensive Income Data (unaudited)
 
2015
 
2014
Interest income
 
$
383

 
$
399

Interest expense 2
 
86

 
108

Net interest income
 
297

 
291

Other loss, net 2
 
(513
)
 
(397
)
Expenses
 
36

 
35

Net loss
 
(252
)
 
(141
)
Dividend on preferred stock
 
7

 
3

Net loss attributable to common stockholders
 
$
(259
)
 
$
(144
)
 
 
 
 
 
Net loss
 
$
(252
)
 
$
(141
)
Other comprehensive income 2
 
420

 
564

Comprehensive income
 
168

 
423

Dividend on preferred stock
 
7

 
3

Comprehensive income available to common stockholders
 
$
161

 
$
420

 
 
 
 
 
Weighted average number of common shares outstanding - basic and diluted
 
352.8

 
354.8

Net loss per common share - basic and diluted
 
$
(0.73
)
 
$
(0.41
)
Comprehensive income per common share - basic and diluted
 
$
0.46

 
$
1.18

Dividends declared per common share
 
$
0.66

 
$
0.65

 
 
 
 
 
 
 
Three Months Ended March 31,
Other Data (unaudited)
 
2015
 
2014
Average agency securities - at par
 
$56,874
 
$60,103
Average agency securities - at cost
 
$59,479
 
$62,920
Average net TBA portfolio - at cost
 
$6,957
 
$4,534
Average total assets - at fair value
 
$72,688
 
$73,422
Average repurchase agreements and other debt 3
 
$53,963
 
$57,544
Average stockholders' equity 4
 
$9,401
 
$8,975
Average coupon - agency securities 5
 
3.63
 %
 
3.60
 %
Average asset yield - agency securities 6
 
2.57
 %
 
2.54
 %
Average cost of funds 7
 
(1.28
)%
 
(1.35
)%
Average net interest rate spread
 
1.29
 %
 
1.19
 %
Average net interest rate spread, including estimated TBA dollar roll income 8
 
1.53
 %
 
1.43
 %
Average coupon - agency securities (as of period end)
 
3.58
 %
 
3.65
 %
Average asset yield - agency securities (as of period end)
 
2.64
 %
 
2.72
 %
Average cost of funds (as of period end) 9
 
(1.34
)%
 
(1.45
)%
Average net interest rate spread (as of period end)
 
1.30
 %
 
1.27
 %
Net comprehensive income return on average common equity - annualized 10
 
7.2
 %
 
19.4
 %
Economic return on common equity - annualized 11
 
7.1
 %
 
20.5
 %
Average leverage 12
 
5.8:1

 
6.7:1

Average "at risk" leverage, inclusive of the net TBA position 13
 
6.5:1

 
7.2:1

Leverage (as of period end) 14
 
5.8:1

 
5.9:1

"At risk" leverage, inclusive of net TBA position (as of period end) 15
 
6.4:1

 
7.6:1

Expenses % of average total assets - annualized
 
0.20
 %
 
0.19
 %
Expenses % of average assets, including average net TBA portfolio - annualized
 
0.18
 %
 
0.18
 %
Expenses % of average stockholders' equity - annualized
 
1.55
 %
 
1.58
 %

33


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