Mfa financial, inc. (MFO)
CashFlow / TTM
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

378

338

329

307

301

341

318

327

322

294

313

312

312

313

310

309

313

319

318

319

313

312

304

301

302

293

300

299

306

308

313

318

316

307

300

269

269

0

0

0

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

62

78

77

77

61

41

40

38

39

40

32

35

35

35

39

38

34

37

40

40

37

31

31

27

25

21

12

7

9

0

0

0

-

-

-

-

33

0

0

0

Gains (Losses) on Sales of Other Real Estate

7

6

6

7

7

8

7

5

4

4

4

3

3

2

1

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on liquidation of residential whole loans

19

18

19

21

22

23

22

16

11

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

1

1

1

0

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

-

1

0

0

0

-

-

-

-

-

-

-

-

Losses on termination of repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26

0

0

0

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

70

64

75

79

82

83

81

82

86

87

88

86

84

86

88

92

95

93

90

87

89

93

93

88

73

58

47

40

38

37

39

41

42

0

0

0

-

-

-

-

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

45

40

36

31

29

27

26

27

30

32

35

36

36

36

37

40

41

38

35

30

32

36

44

53

58

61

60

56

52

0

0

0

-

-

-

-

-

-

-

-

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

3

2

2

1

1

1

1

1

1

1

0

0

0

1

1

1

0

0

0

0

1

3

4

5

5

4

4

4

3

2

3

2

2

2

1

1

0

0

0

0

Equity-based compensation expense

9

8

8

8

8

6

7

7

8

10

9

9

9

8

8

8

7

7

8

8

8

5

5

4

4

5

6

6

6

5

5

4

4

4

3

3

3

0

0

0

Unrealized gains on residential whole loans at fair value

47

43

38

21

36

47

44

44

33

18

23

27

31

28

19

12

6

3

1

0

-0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-2

-40

-45

-45

-43

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gains on derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

4

2

1

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gains and other on Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

3

20

34

34

0

0

0

Amortization of purchase premiums on MBS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Decrease in interest receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5

-6

-5

-8

-7

-2

-0

1

0

-2

-1

4

10

12

8

-3

0

0

0

(Increase)/decrease in other assets

34

20

30

15

26

19

3

5

-21

-47

-65

-2

11

29

57

-2

5

13

15

14

9

20

9

11

5

7

25

18

12

9

-3

-3

-0

0

2

0

0

0

0

0

Increase/(decrease) in other liabilities

18

11

14

5

0

4

-5

-5

-5

-8

-26

-15

-6

43

42

47

56

46

60

45

36

-13

0

2

3

14

7

5

3

-0

-9

0

-0

1

9

0

-2

0

0

0

Increase in accrued interest payable on financial instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48

37

24

13

-0

-2

1

6

6

5

3

1

0

-0

-0

-5

0

0

0

Net cash provided by operating activities

215

211

190

179

147

145

122

138

176

201

241

184

179

221

193

265

278

233

261

258

255

248

271

275

298

304

290

301

310

321

337

352

334

304

283

247

245

0

0

0

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

2,098

2,086

2,150

2,235

2,327

2,405

2,642

3,718

3,996

4,145

4,169

3,294

3,339

3,175

3,073

3,136

2,916

2,794

2,479

2,089

1,939

2,007

2,222

2,496

2,770

2,925

2,931

2,824

2,671

2,579

2,452

2,327

2,291

2,255

2,265

3,016

3,090

0

0

0

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

908

932

745

727

538

362

263

101

243

242

211

214

85

85

95

91

70

70

109

119

123

184

400

384

574

625

413

403

268

0

0

0

-

-

-

-

939

0

0

0

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

1,008

1,419

2,978

2,737

2,604

2,179

1,017

1,532

1,583

2,024

1,961

1,867

1,997

1,775

1,554

1,667

1,810

1,709

1,486

891

1,261

1,197

1,448

2,063

1,744

2,226

3,238

3,421

3,589

3,299

2,793

2,976

4,834

5,052

4,812

5,516

3,114

0

0

0

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

4,598

3,888

4,059

3,566

3,058

2,832

2,000

1,574

1,065

700

430

516

677

526

829

742

617

731

400

396

356

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on residential whole loans

1,378

1,092

880

693

531

400

265

196

160

138

126

117

103

95

82

66

51

31

22

12

6

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sales of real estate owned

108

108

119

125

121

117

103

84

75

64

48

38

34

22

18

9

4

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of real estate owned and capital improvements

20

18

18

16

13

12

23

21

19

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of Federal Home Loan Bank stock

-

-

-

-

-

-

-

-

10

12

25

51

51

49

36

10

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additions to leasehold improvements, furniture and fixtures

1

1

1

1

1

1

1

0

0

0

0

0

0

0

1

1

1

1

0

0

0

0

0

0

0

0

0

0

0

0

1

1

2

2

1

0

0

0

0

0

Net cash (used in)/provided by investing activities

-1,134

-1,109

-3,162

-2,539

-2,157

-1,739

233

970

1,816

1,855

2,182

1,327

934

1,074

859

843

554

447

725

932

451

913

1,174

817

1,600

1,323

107

-192

-650

-497

-109

-417

-2,383

-2,722

-2,548

-2,500

915

0

0

0

Cash Flows From Financing Activities:
Principal payments on repurchase agreements

67,463

72,179

73,076

69,333

67,063

64,432

65,029

68,658

72,563

77,150

81,773

83,145

82,408

78,419

80,092

88,463

92,012

89,342

86,910

79,061

75,939

72,106

71,740

72,030

69,851

74,638

71,330

66,518

63,237

59,118

57,407

56,545

54,050

54,469

50,803

48,400

50,150

0

0

0

Proceeds from borrowings under repurchase agreements

68,724

73,472

75,815

71,284

68,327

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings under repurchase agreements and other advances

68,724

73,472

75,815

71,284

68,327

64,839

63,880

67,079

70,490

75,323

79,775

82,138

81,706

77,641

79,495

87,798

91,614

89,173

86,642

78,745

75,868

71,664

71,215

71,733

69,438

74,374

71,871

67,511

64,176

59,933

57,905

56,802

55,824

56,365

52,273

49,913

48,867

0

0

0

Payments made on obligation to return securities obtained as collateral

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

246

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments to terminate repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Cash disbursements on financial instruments underlying Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,750

2,904

1,444

735

419

326

261

344

585

789

1,171

1,797

2,327

2,787

2,877

2,307

1,824

0

0

0

Cash received from financial instruments underlying Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,336

2,745

1,352

690

405

315

251

303

462

635

995

1,399

1,710

2,200

2,241

1,908

1,697

0

0

0

Proceeds from issuance of securitized debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

186

186

186

661

963

0

0

0

-

-

-

-

Principal payments on securitized debt

114

109

126

110

97

75

42

29

16

9

2

11

22

32

62

79

88

123

150

200

254

314

357

378

409

406

417

425

415

395

387

357

308

0

0

0

-

-

-

-

Payments made for securitization related costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

1

1

5

6

0

0

0

-

-

-

-

Payments made for securitization related costs

40

68

75

72

61

22

8

-12

11

-148

-145

-82

0

247

299

287

267

295

269

277

208

120

157

98

69

61

0

0

2

13

15

20

19

8

9

177

435

0

0

0

Payments made for settlements on Swaps

0

7

13

34

65

57

51

30

0

-128

-89

-55

0

187

181

210

215

218

208

162

132

91

69

52

22

4

6

8

12

27

26

38

42

25

30

182

461

0

0

0

Proceeds from settlements on Swaps

12

9

391

391

392

398

12

194

197

194

190

8

4

1

1

1

1

10

19

28

35

36

54

77

77

76

49

19

13

6

6

3

607

606

605

605

0

0

0

0

Dividends paid on preferred stock

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

15

13

12

10

8

8

8

8

8

8

8

8

8

8

0

0

0

Dividends paid on common stock and dividend equivalents

361

361

350

340

329

319

318

313

308

303

298

298

297

297

297

297

297

297

296

295

294

301

409

596

594

589

490

316

341

354

361

359

329

303

267

250

260

0

0

0

Principal amortization and prepayment on mortgage loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

0

0

0

Net cash provided by/(used in) financing activities

964

979

3,033

2,256

1,634

1,081

-1,053

-1,319

-1,847

-1,793

-1,921

-1,297

-1,031

-1,181

-1,089

-1,131

-849

-931

-1,112

-1,297

-1,089

-1,242

-1,550

-1,419

-1,734

-1,575

-542

118

347

205

-137

-189

2,097

2,568

2,237

2,113

-1,469

0

0

0

Net cash provided by/(used in) financing activities

45

81

60

-103

-375

-512

-698

-210

145

263

503

214

82

114

-35

-22

-17

-249

-125

-105

-382

-79

-104

-326

164

53

-145

226

7

29

90

-254

48

150

-28

-139

-308

0

0

0

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

330

309

299

262

232

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,917

1,917

1,917

1,917

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,519

1,519

1,519

1,519

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

MBS recorded upon de-linking of Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

175

203

215

464

773

777

826

556

146

0

0

0

Repurchase agreements recorded upon de-linking of Linked Transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

46

0

0

0

-

-

-

-

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

0

0

-257

-257

-505

-503

-111

-118

134

150

14

14

5

-5

-1

6

32

96

107

108

135

243

251

248

401

220

196

205

202

0

0

0

-

-

-

-

-

-

-

-

Real Estate Owned, Transfer to Real Estate Owned

257

246

243

225

215

200

181

160

136

119

105

100

91

87

68

48

30

15

9

6

2

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends and dividend equivalents declared and unpaid

0

259

-269

197

211

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-