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SEC Filings

10-K
AGNC INVESTMENT CORP. filed this Form 10-K on 02/23/2016
Entire Document
 


Dividend Reinvestment and Direct Stock Purchase Plan
We sponsor a dividend reinvestment and direct stock purchase plan through which stockholders may purchase additional shares of our common stock by reinvesting some or all of the cash dividends received on shares of our common stock. Stockholders may also make optional cash purchases of shares of our common stock subject to certain limitations detailed in the plan prospectus. During fiscal years 2015, 2014 and 2013, there were no shares issued under the plan. As of December 31, 2015, 21.7 million shares remain available for issuance under the plan.
Accumulated Other Comprehensive Income (Loss)
The following table summarizes changes to accumulated OCI for fiscal years 2015, 2014 and 2013 (in millions):
Accumulated Other Comprehensive Income (Loss)
 
Net Unrealized Gain (Loss) on Available-for-Sale MBS
 
Net Unrealized Gain (Loss) on Swaps
 
Total Accumulated
OCI
Balance
Fiscal Year 2015
 
 
 
 
 
 
Balance as of December 31, 2014
 
$
570

 
$
(140
)
 
$
430

OCI before reclassifications
 
(620
)
 

 
(620
)
Amounts reclassified from accumulated OCI
 
23

 
101

 
124

Balance as of December 31, 2015
 
$
(27
)
 
$
(39
)
 
$
(66
)
 
 
 
 
 
 
 
Fiscal Year 2014
 
 
 
 
 
 
Balance as of December 31, 2013
 
$
(1,087
)
 
$
(296
)
 
$
(1,383
)
OCI before reclassifications
 
1,708

 

 
1,708

Amounts reclassified from accumulated OCI
 
(51
)
 
156

 
105

Balance as of December 31, 2014
 
$
570

 
$
(140
)
 
$
430

 
 
 
 
 
 
 
Fiscal Year 2013
 
 
 
 
 
 
Balance as of December 31, 2012
 
$
2,040

 
$
(485
)
 
$
1,555

OCI before reclassifications
 
(4,535
)
 

 
(4,535
)
Amounts reclassified from accumulated OCI
 
1,408

 
189

 
1,597

Balance as of December 31, 2013
 
$
(1,087
)
 
$
(296
)
 
$
(1,383
)
The following table summarizes reclassifications out of accumulated OCI for fiscal years 2015, 2014 and 2013 (in millions):
 
 
Fiscal Year
 
Line Item in the Consolidated
Statements of Comprehensive Income
Where Net Income is Presented
Amounts Reclassified from Accumulated OCI
 
2015
 
2014
 
2013
 
(Gain) loss amounts reclassified from accumulated OCI for available-for-sale MBS upon realization
 
$
23

 
$
(51
)
 
$
1,408

 
Gain (loss) on sale of agency securities, net
Periodic interest costs of interest rate swaps previously designated as hedges under GAAP, net
 
101

 
156

 
189

 
Interest expense
     Total reclassifications
 
$
124

 
$
105

 
$
1,597

 
 
Long-Term Incentive Plan  
We sponsor an equity incentive plan to provide for the issuance of equity-based awards, including stock options, restricted stock, restricted stock units and unrestricted stock awards to our independent directors. During fiscal years 2015 and 2014, we granted restricted stock unit ("RSU") awards under the plan totaling $625,000 and $375,000, respectively. The awards represent the right to receive an equivalent number of shares of common stock as measured by the closing price of our common stock on the grant date, plus any equivalent shares for dividends declared on our common stock, and vest over a 13 month period, subject to the terms and conditions of the plan. During fiscal year 2013, we granted restricted common stock awards under the plan totaling $468,000. The restricted stock awards had a grant date fair value equal to the closing price of our common stock on such date and vest annually over three years. The following table summarizes restricted stock and RSU transactions for fiscal years 2015, 2014 and 2013:

103


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