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SEC Filings

10-K
AGNC INVESTMENT CORP. filed this Form 10-K on 02/23/2012
Entire Document
 


AMERICAN CAPITAL AGENCY CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 
 
For the year ended December 31,
 
2011
 
2010
 
2009
Operating activities:
 
 
 
 
 
Net income
$
770,480

 
$
288,116

 
$
118,611

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
Amortization of agency securities premiums and discounts, net
360,681

 
99,114

 
26,084

Amortization of interest rate swap termination fee

 
6,278

 
10,347

Stock-based compensation
176

 
94

 
45

Gain on sale of agency securities, net
(472,975
)
 
(92,009
)
 
(49,947
)
Loss (gain) on derivative instruments and other securities, net
446,629

 
(38,389
)
 
4,237

Increase in other assets
(120,924
)
 
(34,029
)
 
(16,356
)
Increase in accounts payable and other accrued liabilities
31,965

 
3,617

 
209

Net cash provided by operating activities
1,016,032

 
232,792

 
93,230

Investing activities:
 
 
 
 
 
Purchases of agency securities
(81,484,105
)
 
(22,645,213
)
 
(9,154,890
)
Proceeds from sale of agency securities
37,868,448

 
12,061,961

 
6,036,601

Purchases of U.S. Treasury securities
(5,163,425
)
 
(1,305,142
)
 

Proceeds from sale of U.S. Treasury securities
5,096,171

 
1,300,175

 

Proceeds from U.S. Treasury securities sold prior to purchase
17,300,545

 

 

Purchases of U.S. Treasury securities sold prior to purchase
(16,781,385
)
 

 

Proceeds from reverse repurchase agreements
37,349,460

 

 

Payments made on reverse repurchase agreements
(37,864,780
)
 
(247,438
)
 

Net (payments) receipts on other derivative instruments not designated as qualifying hedges
(212,016
)
 
255,853

 
(9,546
)
Principal collections on agency securities
4,633,034

 
1,581,186

 
561,894

Net cash used in investing activities
(39,258,053
)
 
(8,998,618
)
 
(2,565,941
)
Financing activities:
 
 
 
 
 
Cash dividends paid
(663,506
)
 
(173,192
)
 
(80,317
)
Increase in restricted cash
(259,810
)
 
(56,466
)
 
(936
)
Payments made on interest rate swap terminations

 

 
(16,410
)
Proceeds from repurchase arrangements, net
36,001,142

 
7,838,257

 
2,495,569

Proceeds from other debt

 
80,822

 

Repayments on other debt
(18,866
)
 
(7,895
)
 

Net proceeds from common stock issuances
4,376,698

 
1,054,755

 
221,596

Net cash provided by financing activities
39,435,658

 
8,736,281

 
2,619,502

Net change in cash and cash equivalents
1,193,637

 
(29,545
)
 
146,791

Cash and cash equivalents at beginning of period
173,258

 
202,803

 
56,012

Cash and cash equivalents at end of period
$
1,366,895

 
$
173,258

 
$
202,803

 
 
 
 
 
 
Supplemental disclosure to cash flow information:
 
 
 
 
 
Interest paid
$
248,535

 
$
65,899

 
$
38,849

Taxes paid
$
455

 
$
335

 
$

See accompanying notes to consolidated financial statements.


68


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