Print Page     Close Window     

SEC Filings

10-K
AGNC INVESTMENT CORP. filed this Form 10-K on 02/27/2017
Entire Document
 


($ in millions, except per share amounts)
 
 
 
 
 
 
 
 
 
 
 
 
December 31,
Balance Sheet Data
 
2016
 
2015
 
2014
 
2013
 
2012
Investment securities, at fair value
 
$
46,499

 
$
52,473

 
$
56,748

 
$
65,941

 
$
85,245

Total assets
 
$
56,880

 
$
57,021

 
$
67,766

 
$
76,255

 
$
100,453

Repurchase agreements, Federal Home Loan Bank advances and other debt
 
$
41,355

 
$
46,102

 
$
51,057

 
$
64,443

 
$
75,415

Total liabilities
 
$
49,524

 
$
49,050

 
$
58,338

 
$
67,558

 
$
89,557

Total stockholders' equity
 
$
7,356

 
$
7,971

 
$
9,428

 
$
8,697

 
$
10,896

Net asset value per common share as of period end 1
 
$
21.17

 
$
22.59

 
$
25.74

 
$
23.93

 
$
31.64

Tangible net asset value per common share as of period end 2
 
$
19.50

 
N/A

 
N/A

 
N/A

 
N/A

 
 
Fiscal Year
Statement of Comprehensive Income Data
 
2016
 
2015
 
2014
 
2013
 
2012
Interest income
 
$
1,321

 
$
1,466

 
$
1,472

 
$
2,193

 
$
2,109

Interest expense 3
 
394

 
330

 
372

 
536

 
512

Net interest income
 
927

 
1,136

 
1,100

 
1,657

 
1,597

Other gain (loss), net 3
 
(199
)
 
(782
)
 
(1,192
)
 
(217
)
 
(157
)
Operating Expenses
 
105

 
139

 
141

 
168

 
144

Income (loss) before income tax
 
623

 
215

 
(233
)
 
1,272

 
1,296

Provision for income tax, net
 

 

 

 
13

 
19

Net income (loss)
 
623

 
215

 
(233
)
 
1,259

 
1,277

Dividend on preferred stock
 
28

 
28

 
23

 
14

 
10

Net income (loss) available (attributable) to common stockholders
 
$
595

 
$
187

 
$
(256
)
 
$
1,245

 
$
1,267

 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
623

 
$
215

 
$
(233
)
 
$
1,259

 
$
1,277

Other comprehensive income (loss) 3
 
(331
)
 
(496
)
 
1,813

 
(2,938
)
 
1,244

Comprehensive income (loss) available (attributable) to common stockholders
 
292

 
(281
)
 
1,580

 
(1,679
)
 
2,521

Dividend on preferred stock
 
28

 
28

 
23

 
14

 
10

Comprehensive income (loss) available (attributable) to common stockholders
 
$
264

 
$
(309
)
 
$
1,557

 
$
(1,693
)
 
$
2,511

 
 
 
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - basic and diluted
 
331.9

 
348.6

 
353.3

 
379.1

 
303.9

Net income (loss) per common share - basic and diluted
 
$
1.79

 
$
0.54

 
$
(0.72
)
 
$
3.28

 
$
4.17

Comprehensive income (loss) per common share - basic and diluted
 
$
0.80

 
$
(0.89
)
 
$
4.41

 
$
(4.47
)
 
$
8.26

Dividends declared per common share
 
$
2.30

 
$
2.48

 
$
2.61

 
$
3.75

 
$
5.00

 
 
Fiscal Year
Other Data (unaudited)
 
2016
 
2015
 
2014
 
2013
 
2012
Average investment securities - at par
 
$47,101
 
$51,759
 
$53,578
 
$75,263
 
$71,002
Average investment securities - at cost
 
$49,268
 
$54,019
 
$56,051
 
$79,056
 
$74,588
Average total assets - at fair value
 
$56,931
 
$63,674
 
$67,007
 
$96,956
 
$86,172
Net TBA dollar roll position - at par (as of period end)
 
$10,916
 
$7,295
 
$14,412
 
$2,119
 
$12,477
Net TBA dollar roll position - at cost (as of period end)
 
$11,312
 
$7,430
 
$14,576
 
$2,276
 
$12,775
Net TBA dollar roll position - at market value (as of period end)
 
$11,165
 
$7,444
 
$14,768
 
$2,271
 
$12,870
Net TBA dollar roll position - at carrying value (as of period end) 4
 
$(147)
 
$14
 
$192
 
$(5)
 
$95
Average net TBA portfolio - at cost
 
$10,329
 
$7,547
 
$13,212
 
$11,383
 
$3,294
Average mortgage borrowings outstanding 5
 
$44,566
 
$48,641
 
$50,015
 
$71,753
 
$68,810
Average stockholders' equity 6
 
$7,718
 
$8,817
 
$9,295
 
$10,394
 
$9,473
Average coupon 7
 
3.64
 %
 
3.62
 %
 
3.63
 %
 
3.59
 %
 
3.90
 %
Average asset yield 8
 
2.68
 %
 
2.71
 %
 
2.63
 %
 
2.77
 %
 
2.82
 %
Average cost of funds 9
 
(1.45
)%
 
(1.49
)%
 
(1.40
)%
 
(1.34
)%
 
(1.11
)%
Average net interest rate spread
 
1.23
 %
 
1.22
 %
 
1.23
 %
 
1.43
 %
 
1.71
 %

27


© AGNC Investment Corp All Rights Reserved