Arlington asset investment corp. (AI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income
Mortgage-backed securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27,989

24,126

25,460

-

26,711

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loans

711

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Private-label mortgage-backed securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,583

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

143

155

215

428

261

256

183

105

131

76

62

21

20

31

82

135

125

-6

1

5

7

-

7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total interest income

24,973

28,255

28,674

32,717

33,832

37,174

32,864

30,055

30,860

30,609

28,835

31,461

30,343

24,577

25,654

26,351

28,754

31,228

31,239

28,286

30,510

18,346

33,301

30,063

23,867

22,551

22,995

23,145

18,328

-

15,519

16,031

13,363

-

13,061

13,262

-

-

-

Interest expense
Short-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,989

3,395

3,080

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,495

10,150

10,049

Short-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,422

2,124

1,734

1,838

1,758

1,814

1,489

-

1,125

994

692

707

542

477

317

178

137

Long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,176

1,180

648

553

554

552

551

553

556

406

115

-

123

123

125

120

115

115

115

146

139

Total interest expense

15,832

21,218

23,982

26,135

25,915

26,550

22,526

19,193

16,556

14,952

13,968

12,528

10,066

8,436

7,390

6,703

6,693

5,421

5,165

4,575

3,728

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,976

2,676

2,285

2,391

2,314

2,220

1,604

-

1,248

1,117

817

827

657

592

432

324

276

Net interest income

9,141

7,037

4,692

6,582

7,917

10,624

10,338

10,862

14,304

15,657

14,867

18,933

20,277

16,141

18,264

19,648

22,061

25,807

26,074

23,711

26,782

14,892

30,325

27,387

21,582

20,160

20,681

20,925

16,724

-

14,271

14,914

12,546

12,900

12,404

12,670

12,063

9,826

9,773

Investment advisory fee income

-

82

0

0

250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment (loss) gain, net
Gain on trading investments, net

3,094

-268

16,890

42,239

69,168

32,591

-37,878

-20,892

-88,343

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Loss) gain on trading investments, net

-

-

-

-

-

-

-

-

-

-

13,996

15,855

-4,219

-

2,468

27,665

50,950

-36,247

36,889

-51,445

19,745

-

-18,025

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from derivative instruments, net

-102,600

23,440

-25,353

-69,072

-55,205

-101,483

35,620

16,052

40,154

33,169

-572

-31,678

2,305

88,285

15,196

-34,381

-100,760

38,395

-97,627

30,501

-76,012

-

7,556

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Realized gain on sale of available-for-sale investments, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,439

-593

-

291

969

13,117

3,348

-

3,467

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,638

99

-

-

-

-

-

71

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-562

136

232

150

-160

-18

1

324

50

277

-56

-147

152

-87

619

0

19

1,631

12

309

112

-

91

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total investment (loss) gain, net

-100,068

23,308

-8,231

-26,683

13,803

-68,910

-2,257

-4,516

-48,139

10,238

13,368

-15,970

-1,762

-31,203

20,722

-8,947

-49,890

1,653

-59,757

-7,518

-52,807

-15,304

-6,982

7,910

-5,911

-11,878

-11,100

-11,253

-13,529

-

-5,663

-8,677

2,808

-1,711

-20,195

-8,484

11,224

-2,089

2,378

General and administrative expenses
Other loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-3

-

-3

-4

-4

-

-3

-4

-4

-3

-4

-4

-3

-3

-3

Total other loss, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,906

-5,914

-

-11,103

-11,257

-13,533

-

-5,666

-8,681

2,804

-1,714

-20,199

-8,488

11,221

-2,092

2,375

Operating income before other expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35,293

15,668

-

9,578

9,668

3,191

-

8,605

6,233

15,350

11,186

-7,795

4,182

23,284

7,734

12,148

Compensation and benefits

1,858

2,012

2,833

2,233

3,116

395

2,833

2,061

3,040

3,505

3,449

2,804

3,445

2,776

3,430

2,756

2,564

2,567

2,071

2,669

2,412

3,326

3,995

3,185

2,961

3,161

3,042

2,643

2,349

-

3,519

2,101

1,960

2,522

2,537

2,570

2,436

2,365

2,379

Other general and administrative expenses

1,385

1,005

1,365

1,191

1,260

1,263

1,121

1,400

1,257

1,442

1,095

1,350

1,480

1,343

1,200

4,916

1,771

-

1,379

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total general and administrative expenses

3,243

3,017

4,198

3,424

4,376

1,658

3,954

3,461

4,297

4,947

4,544

4,154

4,925

4,119

4,630

7,672

4,335

-

3,450

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Professional services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

395

516

-

297

555

1,121

-

862

891

1,584

708

441

561

123

233

90

Business development

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

56

31

-

45

30

32

-

39

55

17

23

19

47

32

19

19

Occupancy and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

120

99

-

96

111

121

-

110

150

95

93

93

92

96

90

88

Communications

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

52

47

-

49

46

47

-

49

53

52

50

51

50

46

44

58

Other expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,276

1,006

-

1,059

572

501

4,254

501

535

106

-

453

460

438

431

448

425

295

387

492

Total other expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,945

3,418

-

5,054

4,380

4,155

4,865

4,030

3,920

3,776

-

5,032

3,710

4,146

3,827

3,589

3,745

3,028

3,138

3,126

Income (loss) before income taxes

-

-

-7,737

-23,525

-

-59,944

4,127

2,885

-38,132

20,948

23,691

-1,191

13,590

-19,181

34,356

3,029

-32,164

23,486

-37,133

12,248

-29,443

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Loss) income before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,289

30,913

11,513

3,428

5,548

5,748

-585

-

3,573

2,523

11,204

7,359

-11,384

437

20,256

4,596

9,022

Income tax provision

-

-

-

-

-

-33,639

9,628

6,493

18,251

13,707

823

16,737

8,336

22,255

15,543

-9,865

-546

4,675

15,497

5,647

12,742

25,651

5,442

12,074

4,480

-39,931

2,455

2,554

-3,762

-

450

379

442

419

259

346

471

-560

249

Net (loss) income

-94,170

27,410

-7,737

-23,525

17,594

-26,305

-5,501

-3,608

-56,383

7,241

22,868

-17,928

5,254

-41,436

18,813

12,894

-31,618

18,811

-52,630

6,601

-42,185

-30,966

12,847

18,839

7,033

43,359

3,093

3,194

3,177

167,913

3,123

2,144

10,762

-

-

-

19,785

-

-

Dividend on preferred stock

774

774

774

774

278

153

151

149

137

-

83

35

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (loss) income (attributable) available to common stock

-94,944

26,636

-8,511

-24,299

17,316

-26,458

-5,652

-3,757

-56,520

7,108

22,785

-17,963

5,254

-

18,813

12,894

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11,643

91

-

5,156

8,773

Net income

-94,170

27,410

-7,737

-23,525

17,594

-26,305

-5,501

-3,608

-56,383

7,241

22,868

-17,928

5,254

-

18,813

12,894

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic (loss) earnings per common share

-2.59

0.69

-0.23

-0.67

0.52

-0.86

-0.19

-0.13

-2.00

0.33

0.86

-0.74

0.22

-1.79

0.82

0.56

-1.38

0.82

-2.29

0.29

-1.84

-1.60

0.62

0.95

0.42

2.69

0.19

0.19

0.23

-

0.31

0.22

1.37

0.88

-1.50

0.01

2.58

0.66

1.12

Diluted (loss) earnings per common share

-2.59

0.69

-0.23

-0.67

0.52

-0.86

-0.19

-0.13

-2.00

0.33

0.85

-0.74

0.22

-1.78

0.81

0.56

-1.38

0.82

-2.29

0.29

-1.84

-1.58

0.61

0.94

0.41

2.66

0.18

0.19

0.23

-

0.31

0.22

1.37

0.87

-1.50

0.01

2.58

0.65

1.10

Dividends declared per share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.87

0.87

0.87

-

0.87

0.87

0.75

0.60

0.35

Weighted-average common shares outstanding (in thousands)
Basic

36,711

36,678

36,572

36,533

33,053

30,419

29,382

28,210

28,197

28,248

26,377

24,319

23,652

23,169

23,038

23,003

22,994

23,035

23,021

22,979

22,973

23,047

20,577

19,740

16,808

16,709

16,669

16,655

13,927

-

9,977

9,726

7,865

23,203

7

7

7,661

7,755

7,815

Diluted

36,711

37,088

36,572

36,533

33,139

30,419

29,382

28,210

28,197

28,972

26,856

24,319

23,897

22,791

23,349

23,070

22,994

22,916

23,021

23,098

22,973

23,392

21,055

20,060

17,081

16,986

16,845

16,832

14,093

-

10,041

9,733

7,873

23,267

7

7

7,681

7,887

7,952

Unrealized losses on available-for-sale securities (net of taxes of $-0-, $-0-, and $(3,946), respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-221

-1,006

-4,970

-258

-2,451

169

-4,493

-4,520

219

3,081

2,215

6,520

2,116

8,528

5,248

-

-3,903

-4,188

-4,903

-7,028

-5,234

-1,597

2,606

-

-

Included in investment (loss) gain, net, related to sales of available-for-sale securities (net of taxes of $-0-, $-0-, and $40, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,324

226

-

182

1,122

13,279

3,362

480

2,499

4,368

4,319

5,248

2,380

3,187

681

-

0

0

-

-

-

-

-

-

-

Included in investment gain (loss), net, related to other-than-temporary impairment charges on available-for-sale securities (net of taxes of $-0-, $676, $940, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,001

60

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Included in investment loss, net, related to other-than-temporary impairment charges on available-for-sale securities (net of taxes of $940, $175, $527, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43

49

0

78

224

430

95

-

6,900

4,531

-

-

-

-

-

-

-

Included in investment (loss) gain, net, in the statement of comprehensive income related to sales of available-for-sale securities (net of taxes of $473 and $-0-, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-1,079

-2,089

-

-

-

Included in investment (loss) gain, net, in the statement of comprehensive income related to other-than-temporary impairment charges on available-for-sale securities (net of taxes of $67 and $-0-, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Reclassification adjustment for gains included in net income on available for sale securities (net of taxes of $-0-)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12,850

-

-

Comprehensive (loss) income

-

-

-

-

-

-

-

-

-

-

-

-

5,254

-46,121

16,268

12,663

-36,528

19,848

-56,203

-6,509

-50,040

-35,784

10,610

17,601

4,929

44,709

3,053

8,965

7,839

-

6,120

2,487

5,859

2,055

-17,956

-3,595

9,541

-

-

Agency MBS
Mortgage-backed securities

23,388

27,927

28,455

32,275

33,570

36,914

32,679

29,940

30,725

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-Agency MBS
Mortgage-backed securities

731

165

4

14

1

4

2

10

4

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on trading investments, net

-20,038

-

-

-

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Secured Debt
Short-term debt

14,592

19,970

22,721

24,866

24,643

25,286

21,265

17,936

15,325

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unsecured Debt
Long-term debt

1,240

1,248

1,261

1,269

1,272

1,264

1,261

1,257

1,231

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-