Mfa financial, inc. (MFA)
CashFlow / Quarterly
Dec'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'11Dec'10Sep'10Jun'10Mar'10
Cash Flows From Operating Activities:
Net income

100,621

95,599

93,040

88,857

60,879

87,132

70,395

83,395

100,594

63,804

79,935

78,060

72,637

83,011

78,950

78,070

73,472

79,510

78,071

82,173

79,708

78,882

78,726

76,188

78,557

71,328

75,473

77,351

69,219

78,141

74,766

84,713

70,564

83,699

79,286

82,865

61,581

77,214

48,290

82,677

Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of residential mortgage securities and U.S. Treasury securities

11,975

17,708

7,710

24,609

28,646

16,415

7,429

8,817

9,047

14,933

5,889

9,708

9,768

7,083

9,241

9,745

9,652

11,196

7,617

6,435

12,194

13,880

7,852

3,571

6,147

13,680

4,365

1,633

1,769

4,279

0

2,953

-

-

-

-

0

0

0

33,739

Gains (Losses) on Sales of Other Real Estate

1,600

2,100

2,302

1,398

1,100

1,900

2,707

1,993

1,631

805

1,164

875

1,389

733

598

509

178

129

-205

-26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on liquidation of residential whole loans

4,543

4,877

4,977

4,684

3,811

5,856

7,463

5,279

4,690

5,119

1,191

868

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings

-

-

-

-

-

-

-

-

0

0

618

414

0

485

0

0

0

0

298

407

0

0

0

0

-

-

-

-

0

0

280

920

-

-

-

-

-

-

-

-

Losses on termination of repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

26,815

Accretion of purchase discounts on residential mortgage securities, residential whole loans and MSR-related assets

24,393

12,797

17,278

15,915

18,693

23,263

21,155

19,793

19,253

20,886

22,497

23,682

20,522

21,355

20,655

22,083

22,185

23,387

24,551

25,254

20,311

20,438

20,999

27,434

25,125

19,560

16,704

12,058

10,090

8,851

9,904

9,418

9,260

10,792

12,178

10,189

-

-

-

-

Amortization of purchase premiums on residential mortgage securities and residential whole loans

13,131

12,663

11,802

7,620

8,129

8,633

7,116

5,392

6,564

7,764

7,973

8,029

8,977

10,331

9,274

8,143

8,879

11,637

11,986

9,122

6,066

8,308

7,463

10,215

11,009

15,897

16,508

14,793

14,123

14,873

12,520

10,782

-

-

-

-

-

-

-

-

Depreciation and amortization on real estate, fixed assets and other assets

1,361

873

652

432

471

549

382

423

320

760

229

210

218

181

293

272

293

235

217

115

255

279

330

327

2,698

973

1,063

1,097

1,063

1,149

895

427

401

1,362

380

521

247

142

178

163

Equity-based compensation expense

4,515

1,288

2,438

998

4,116

1,082

2,256

553

2,664

1,910

2,353

1,106

5,019

1,101

1,908

1,134

4,232

1,031

1,657

912

4,224

1,271

1,602

1,484

1,212

760

1,301

885

2,114

1,793

1,480

1,101

1,402

1,027

1,024

932

1,093

622

846

722

Unrealized gains on residential whole loans at fair value

14,536

13,185

21,188

-1,060

9,937

8,442

4,599

13,747

21,118

5,290

4,261

2,948

5,725

10,913

8,390

6,226

2,660

2,362

908

602

-96

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized losses/(gains) on residential mortgage securities and interest rate swap agreements (“Swaps”) and other

-2,291

1,485

-1,163

-200

-40,467

-3,359

-1,428

2,020

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gains on derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,552

2,018

2,076

9,429

-8,784

-670

1,136

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gains and other on Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-100

6,245

-

-2,991

-10,773

8,933

8,457

13,881

2,944

9,084

Amortization of purchase premiums on MBS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,743

-8,427

-7,609

-

804

-6,693

485

Decrease in interest receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,174

-2,007

863

-1,987

-3,051

-1,251

-1,891

-838

1,059

1,183

-244

-1,503

-2,308

2,717

5,716

3,918

-344

-458

-6,676

(Increase)/decrease in other assets

9,615

-2,331

18,208

8,770

-4,531

8,549

2,479

19,990

-11,426

-7,437

3,912

-7,013

-36,666

-25,871

67,373

6,259

-18,044

1,489

8,052

13,910

-10,028

3,889

6,291

9,644

403

-6,942

8,000

4,088

2,425

10,593

1,593

-1,844

-830

-2,905

2,327

625

456

-727

116

664

Increase/(decrease) in other liabilities

6,797

7,040

11,425

-6,709

-1

10,124

2,137

-12,228

4,435

412

1,732

-12,392

2,082

-18,166

12,939

-3,798

52,561

-19,269

18,185

4,693

43,298

-5,249

2,560

-3,745

-7,227

9,117

4,419

-2,699

3,476

2,676

1,554

-3,886

-669

-6,384

10,995

-4,574

1,208

2,340

1,743

-7,676

Increase in accrued interest payable on financial instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,527

11,169

7,384

16,311

2,270

-1,536

-3,237

1,987

715

1,886

2,404

1,634

-137

-584

192

610

-373

-493

-5,011

Net cash provided by operating activities

62,179

67,649

48,865

37,082

57,631

46,445

37,909

5,896

55,105

23,122

53,926

44,359

80,555

62,730

-2,893

38,999

122,806

34,581

69,491

51,247

78,314

62,537

66,697

48,265

70,960

85,882

70,080

71,166

77,794

71,859

80,801

79,933

89,339

87,517

95,471

62,082

59,146

66,331

60,067

60,394

Cash Flows From Investing Activities:
Principal payments on residential mortgage securities and MSR-related assets

542,967

624,858

538,950

391,641

530,805

689,141

623,537

484,334

608,816

925,942

1,698,984

762,747

758,090

950,146

824,012

807,349

593,593

848,645

886,481

588,088

471,609

532,924

497,266

438,149

539,215

748,019

771,575

711,901

693,771

754,704

664,146

558,516

602,633

627,488

539,236

521,796

566,855

637,617

1,290,158

596,246

Proceeds from sales of residential mortgage securities and U.S. Treasury securities

172,929

330,972

196,490

208,306

197,079

143,197

179,030

19,362

20,938

44,518

16,928

160,697

20,526

13,249

19,785

32,034

20,047

23,523

16,332

10,845

20,285

61,596

26,528

15,501

81,256

277,534

9,876

206,203

131,780

65,976

0

71,103

-

-

-

-

0

0

0

939,119

Purchases of residential mortgage securities, MSR-related assets and U.S. Treasury securities

170,624

139,618

370,752

327,221

582,320

1,698,605

128,981

194,328

157,413

536,981

644,154

244,582

599,232

473,901

549,301

375,404

377,096

252,685

662,395

518,127

275,864

29,807

67,869

888,106

211,623

281,256

682,720

569,006

693,622

1,293,157

865,252

737,950

403,228

787,554

1,047,473

2,595,914

621,269

547,987

1,751,071

193,851

Purchases of residential whole loans, loan related investments and capitalized advances

1,609,962

1,044,369

922,303

1,021,557

900,734

1,214,672

429,582

513,851

674,368

382,205

4,381

5,027

309,263

111,441

90,789

165,510

158,871

414,485

3,493

40,168

273,509

82,931

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on residential whole loans

472,457

382,472

289,876

233,724

185,992

171,204

102,848

71,865

54,920

35,934

34,162

35,453

33,268

23,625

25,438

21,666

24,376

10,624

10,167

6,260

3,966

2,051

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of real estate owned

26,806

25,133

32,110

23,963

27,669

35,405

38,923

19,307

23,837

21,375

20,021

10,438

12,367

5,700

9,976

6,157

177

1,845

1,446

581

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of real estate owned and capital improvements

4,439

5,110

4,638

5,923

3,188

4,897

2,604

2,678

2,577

15,342

1,108

774

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of Federal Home Loan Bank stock

-

-

-

-

-

-

-

-

0

0

0

10,422

1,805

13,200

25,920

10,475

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to leasehold improvements, furniture and fixtures

528

308

652

391

124

458

380

171

276

263

200

133

328

133

191

56

470

833

99

158

403

162

136

85

101

137

81

54

76

66

171

130

339

977

516

511

162

48

18

210

Net cash (used in)/provided by investing activities

-570,394

174,030

-240,919

-497,458

-544,821

-1,879,685

382,791

-116,160

-126,123

92,978

1,120,252

729,241

-87,397

420,445

264,850

336,711

52,356

206,017

248,439

47,321

-53,916

483,671

455,789

-434,541

408,747

744,160

98,650

349,044

131,853

-472,543

-201,277

-108,461

284,571

-84,548

-508,753

-2,074,629

-54,576

89,582

-460,931

1,341,304

Cash Flows From Financing Activities:
Principal payments on repurchase agreements

13,359,980

16,035,713

19,188,890

18,879,173

18,075,249

16,933,458

15,445,484

16,609,092

15,444,955

17,530,164

19,074,387

20,513,712

20,031,865

22,153,866

20,446,243

19,776,510

16,042,564

23,826,797

28,817,957

23,325,613

13,372,550

21,394,812

20,968,997

20,203,589

9,539,368

21,028,230

21,259,147

18,024,857

14,326,178

17,720,107

16,446,942

14,744,454

10,207,487

16,008,325

15,585,664

12,249,066

10,626,175

12,342,438

13,183,067

13,998,897

Proceeds from borrowings under repurchase agreements

13,928,011

15,976,412

19,309,804

19,509,794

18,676,046

18,319,467

14,778,810

16,553,139

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings under repurchase agreements and other advances

13,928,011

15,976,412

19,309,804

19,509,794

18,676,046

18,319,467

14,778,810

16,553,139

15,188,089

17,360,597

17,977,954

19,963,451

20,021,259

21,813,159

20,340,257

19,532,131

15,955,633

23,667,595

28,643,405

23,348,218

13,514,215

21,136,434

20,746,969

20,470,421

9,310,494

20,687,118

21,265,603

18,175,212

14,246,324

18,184,026

16,906,417

14,840,227

10,002,983

16,155,737

15,803,202

13,862,812

10,543,905

12,063,665

13,443,412

12,816,945

Payments made on obligation to return securities obtained as collateral

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

46,800

-100,069

100,069

200,050

-

-

-

-

-

-

-

-

-

-

-

-

Payments to terminate repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26,815

Cash disbursements on financial instruments underlying Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,011,842

1,599,269

765,619

374,073

165,647

139,252

56,926

57,977

71,975

74,175

140,070

299,173

275,701

456,750

766,185

828,973

735,828

546,310

195,923

346,435

Cash received from financial instruments underlying Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,753,128

1,518,637

720,603

344,504

162,111

125,771

58,309

59,245

72,526

61,848

110,246

218,269

245,555

421,054

514,827

529,084

735,505

461,775

181,811

318,426

Proceeds from issuance of securitized debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

186,691

0

0

474,866

488,389

-

-

-

-

Principal payments on securitized debt

35,036

21,854

31,995

25,501

30,024

39,306

15,822

12,817

7,422

6,488

2,652

0

0

0

11,924

10,133

10,160

30,080

28,921

19,186

45,376

57,406

78,034

73,262

105,998

100,540

98,266

104,802

102,655

111,784

106,167

94,789

82,886

103,634

76,193

45,955

-

-

-

-

Payments made for securitization related costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

51

1,763

0

0

3,257

3,724

-

-

-

-

Payments made for securitization related costs

-7,593

491

25,653

21,478

20,617

7,569

22,650

10,666

-18,626

-5,790

898

34,942

-179,028

-2,372

63,600

117,800

68,376

50,124

50,700

98,000

96,800

24,100

58,700

29,000

8,500

61,399

3

0

0

0

800

1,590

10,901

2,660

5,150

650

290

3,302

172,919

259,286

Payments made for settlements on Swaps

0

0

0

0

7,737

5,945

21,000

30,711

0

0

0

0

-128,700

39,000

34,000

55,700

59,000

32,300

63,800

60,000

61,900

22,500

18,400

30,000

20,809

0

2,000

0

2,000

2,000

4,800

4,090

17,000

500

17,381

8,033

0

5,500

168,934

287,416

Proceeds from settlements on Swaps

3,464

7,724

586

551

542

390,221

481

1,230

6,295

4,678

182,298

3,952

3,719

341

294

306

292

303

311

312

9,268

9,525

9,230

7,616

10,216

27,011

33,120

7,278

8,640

603

3,344

451

2,038

373

197

605,195

239

97

148

125

Dividends paid on preferred stock

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

3,750

4,210

2,040

2,040

2,040

2,040

2,040

2,040

2,040

2,040

2,040

2,040

2,040

2,040

2,040

Dividends paid on common stock and dividend equivalents

90,614

90,400

90,353

90,198

90,136

79,947

79,907

79,769

79,606

79,549

74,811

74,622

74,510

74,498

74,462

74,425

74,390

74,377

74,343

74,269

74,045

73,795

73,541

73,289

80,814

182,326

259,745

71,942

75,725

82,621

86,091

96,792

89,475

89,426

83,982

66,378

63,347

53,478

67,504

75,899

Principal amortization and prepayment on mortgage loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

9,101

42

Net cash provided by/(used in) financing activities

449,688

-168,205

193,193

490,245

464,545

1,885,737

-584,308

-131,014

-88,852

-249,810

-849,407

-659,623

-34,819

-377,242

-225,428

-394,481

-184,315

-284,930

-268,155

-112,288

-265,852

-466,036

-453,439

95,578

-418,189

-774,472

-322,018

-219,933

-258,796

257,750

339,231

9,127

-400,914

-85,171

287,087

2,296,727

69,748

-416,531

163,751

-1,286,502

Net cash provided by/(used in) financing activities

-58,527

73,474

1,139

29,869

-22,645

52,497

-163,608

-241,278

-159,870

-133,710

324,771

113,977

-41,661

105,933

36,529

-18,771

-9,153

-44,332

49,775

-13,720

-241,454

80,172

69,047

-290,698

61,518

55,570

-153,288

200,277

-49,149

-142,934

218,755

-19,401

-27,004

-82,202

-126,195

284,180

74,318

-260,618

-237,113

115,196

Supplemental Disclosure of Cash Flow Information
Supplemental Disclosure of Cash Flow Information

92,754

67,792

88,417

81,435

71,629

57,841

51,853

51,334

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash Investing and Financing Activities:
MBS and CRT securities recorded upon adoption of revised accounting standard for repurchase agreement financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,917,813

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase agreements recorded upon adoption of revised accounting standard for repurchase agreement financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,519,593

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

MBS recorded upon de-linking of Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

254

16,561

35,553

122,826

28,815

28,233

284,418

431,580

33,700

76,703

14,684

21,448

Repurchase agreements recorded upon de-linking of Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

46,698

-

-

-

-

Net (decrease)/increase in securities obtained as collateral/obligation to return securities obtained as collateral

0

0

0

0

0

-257,200

0

-248,650

2,170

134,712

-6,937

4,155

18,835

-1,775

-6,500

-5,175

7,520

2,220

1,940

20,990

71,474

13,316

2,607

47,768

179,557

21,480

-1

200,099

-871

-3,203

9,167

197,339

-

-

-

-

-

-

-

-

Real Estate Owned, Transfer to Real Estate Owned

64,170

61,887

66,484

65,160

53,466

58,051

48,699

54,822

39,346

38,944

27,346

31,098

22,093

24,812

22,711

22,280

17,210

5,892

3,554

3,448

2,904

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends and dividend equivalents declared and unpaid

-59,524

-27,463

86,987

0

200,241

-557,027

554,390

13,525

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-