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SEC Filings

10-Q
AGNC INVESTMENT CORP. filed this Form 10-Q on 05/07/2018
Entire Document
 


AGNC INVESTMENT CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(in millions) 
 
Three Months Ended March 31,
 
2018
 
2017
Operating activities:
 
 
 
Net income
$
424

 
$
76

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Amortization of premiums and discounts on mortgage-backed securities, net
69

 
89

Amortization of intangible assets
1

 
1

Stock-based compensation
1

 

Loss on sale of investment securities, net
2

 
84

Unrealized (gain) loss on investment securities measured at fair value through net income, net
523

 
(16
)
(Gain) loss on derivative instruments and other securities, net
(738
)
 
40

Decrease in other assets
3

 
125

Increase (decrease) in accounts payable and other accrued liabilities
3

 
(9
)
Net cash provided by operating activities
288

 
390

Investing activities:
 
 
 
Purchases of Agency mortgage-backed securities
(2,287
)
 
(4,573
)
Purchases of credit risk transfer and non-Agency securities
(215
)
 
(317
)
Proceeds from sale of Agency mortgage-backed securities
1,181

 
4,424

Proceeds from sale of credit risk transfer and non-Agency securities
208

 
193

Principal collections on Agency mortgage-backed securities
1,661

 
1,636

Principal collections on credit risk transfer and non-Agency securities

 
4

Payments on U.S. Treasury securities
(1,345
)
 
(1,748
)
Proceeds from U.S. Treasury securities
1,403

 
2,999

Net proceeds from (payments on) reverse repurchase agreements
231

 
(1,192
)
Net proceeds from (payments on) derivative instruments
466

 
(72
)
Purchases of REIT equity securities
(16
)
 

Net cash provided by (used in) investing activities
1,287

 
1,354

Financing activities:
 
 
 
Proceeds from repurchase arrangements
243,168

 
77,864

Payments on repurchase agreements
(244,507
)
 
(76,347
)
Payments on Federal Home Loan Bank advances

 
(3,037
)
Payments on debt of consolidated variable interest entities
(21
)
 
(28
)
Cash dividends paid
(220
)
 
(186
)
Net cash provided by (used in) financing activities
(1,580
)
 
(1,734
)
Net change in cash, cash equivalents and restricted cash
(5
)
 
10

Cash, cash equivalents and restricted cash at beginning of period
1,363

 
1,282

Cash, cash equivalents and restricted cash at end of period
$
1,358

 
$
1,292

See accompanying notes to consolidated financial statements.

5


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