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YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. reflects compensation to the seller for the interest income (inclusive of expected prepayments) that, at the time of sale, is expected to be foregone as a result of relinquishing beneficial ownershi...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. is reported as a component of the overall periodic change in the fair value of TBA forward commitments within the line item “investment and derivative gain (loss), net.” We utilize interest rate sw...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. reported as a component of the overall periodic change in the fair value of derivative instruments within the line item “investment and derivative gain (loss), net.” The following table provides a ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. compensation expense 757 761 Add back: TBA dollar roll income 74 823 Interest rate swap net interest expense (118 (291 Non-GAAP earnings available for distribution 1,342 1,450 Non-GAAP ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. investors in understanding and evaluating the financial performance of our long-term-focused, net interest spread-based investment strategy and core business activities over periods of time as well ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. distribution and taxable income determined in accordance with the Internal Revenue Code. As a REIT, we are required to distribute at least 90% of our REIT taxable income (subject to certain adjustm...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. borrowings (for example, repurchase agreements), principal and interest payments from our mortgage investments and proceeds from sales of mortgage investments. Other sources of liquidity include pro...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. same time. If we cannot obtain funding from third parties our results of operations could be negatively impacted. As of March 31, 2023, our debt-to-equity leverage ratio was 2.7 to 1 measured as th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. able capital is calculated as the sum of our stockholders’ equity and long-term unsecured debt. As of March 31, 2023, our “at risk” leverage ratio was 0.4 to 1. As of March 31, 2023, our liquid ass...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ings, in public or private transactions, to provide capital for corporate purposes and/or strategic business opportunities, including possible acquisitions, joint ventures, alliances or other busines...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 3, our cash totaled $12.8 million, representing a net decrease of $17.4 million from $30.2 million as of December 31, 2022. Cash used in operating activities of $4.4 million during the three months e...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. financing receivables. Cash used in financing activities of $35.3 million during the three months ended March 31, 2023 was primarily from repayments of repurchase agreements, net repayments of secur...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. include provisions contained in the standard master repurchase agreement as published by the Securities Industry and Financial Markets Association (“SIFMA”) and may be amended and supplemented in ac...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. our acquisition of mortgage loans is subject to a master repurchase agreement between our wholly-owned subsidiary, for which we provide a full guarantee of performance, and a third party lender. Th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. event the estimated fair value of the existing pledged collateral under such agreements declines and such lenders demand additional collateral (commonly referred to as a “margin call”), which may ta...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. In such instances, our lenders are required to act in good faith in making determinations of value. Our repurchase agreements generally provide that in the event of a margin call, we must provide ca...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , which means the collateral is valued, for the purposes of the repurchase agreement transaction, at less than fair value. Upon the renewal of a repurchase agreement financing at maturity, a lender ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. repurchase agreement borrowings as of the date and period indicated (dollars in thousands): March 31, 2023 Agency MBS repurchase financing: Repurchase agreements outstanding 385,923 Agency MBS ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. outstanding 19,053 Mortgage loans collateral, at fair value 27,798 Net amount (1) 8,745 Weighted-average rate 7.34 Weighted-average term to maturity 206.0 days Total mortgage investments r...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. obligation and not the entire collateral balance. To limit our exposure to counterparty risk, we diversify our repurchase agreement funding across multiple counterparties. As of March 31, 2023, we ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -term unsecured debt, net of unamortized debt issuance costs of $1.2 million. Our 6.75% Senior Notes due 2025 with a principal amount of $34.9 million outstanding as of March 31, 2023 accrue and req...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 0 million outstanding as of March 31, 2023 accrue and require the payment of interest quarterly at three-month LIBOR plus 2.25% to 3.00% and mature 46 between 2033 and 2035. Our Senior Notes due 20...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. our operations, we are a party to financial instruments that are accounted for as derivative financial instruments including (i) interest rate hedging instruments such as interest rate swaps, U.S. T...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. initial margin” amount which is determined by the clearinghouse and is generally intended to be set at a level sufficient to protect the clearinghouse from the maximum estimated single-day price move...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. if we encounter significant changes in long-term interest rates, margin calls on our hedging agreements could result in a material adverse change in our liquidity position. As of March 31, 2023, we...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. instrument type. The FCMs generally use the amount of initial margin that we have posted with them as a measure of their level of risk exposure to us. We currently have FCM relationships with two ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. agency MBS and will generally enter into an offsetting position and net settle the paired-off positions in cash. However, under certain market conditions, it may be uneconomical for us to roll our ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for Agency MBS Purchase and Sale Commitments Our commitments to purchase and sell agency MBS, including TBA commitments, are subject to master securities forward transaction agreements published by...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. However, in certain circumstances, our counterparties have the sole discretion to determine the value of the agency MBS commitment and any pledged collateral. In such instances, our counterparties a...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 2023 and $25 million of the minimum commitment expiring on April 1, 2024. As of March 31, 2023, we have fully funded the total minimum commitment. At any time prior to the minimum commitment expira...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. mortgage servicing counterparty has a $100 million credit facility that is secured by its MSRs including MSRs to which our MSR financing receivables are referenced. As of March 31, 2023, our mortga...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. lender demands additional collateral from our mortgage servicing counterparty through a margin call, we would be required to provide the mortgage servicing counterparty with additional funds to meet...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. of mortgage loans within the referenced MSR. The mortgage servicing counterparty is required to return to us any subsequent servicing advances collected or reimbursed by the GSEs. At our option, we...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. to us. Equity Capital Common Equity Distribution Agreements We are party to separate common equity distribution agreements with equity sales agents JMP Securities LLC, B. Riley FBR, Inc., JonesTr...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. a written notice from us, in privately negotiated transactions. As of March 31, 2023, we had 11,302,160 shares of Class A common stock available for sale under the common equity distribution agreem...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. cash dividend at a rate of 7.00% per annum of their $25.00 per share liquidation preference (equivalent to $1.75 per annum per share). Shares of Series B Preferred Stock are redeemable at $25.00 per...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Series C Preferred Stock is publicly traded on the New York Stock Exchange under the ticker symbol “AAIC PrC.” The Series C Preferred Stock has no stated maturity, is not subject to any sinking fun...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. rate equal to three-month LIBOR plus a spread of 5.664% per annum. Shares of Series C Preferred Stock are redeemable at $25.00 per share, plus accumulated and unpaid dividends (whether or not author...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. on our Series C Preferred Stock to date. Preferred Equity Distribution Agreement We are party to an amended and restated equity distribution agreement with JonesTrading Institutional Services LLC ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , in privately negotiated transactions. As of March 31, 2023, we had 1,602,566 shares of Series B Preferred Stock available for sale under the Series B preferred equity distribution agreement. REIT...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. although we will not be required to do so. We intend to make distributions of our taxable income within the time limits prescribed by the Internal Revenue Code, which may extend into the subsequent...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. olidated entities or financial partnerships, such as entities often referred to as structured finance, or special purpose entities or VIEs, established for the purpose of facilitating off-balance she...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. most significantly impact the economic performance of the VIE and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We were not...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. olidated entities. As of March 31, 2023 and December 31, 2022, we had not entered into any commitment or intent to provide funding to unconsolidated entities other than the aforementioned asset-back...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. that we are exposed to are interest rate risk, prepayment risk, extension risk, spread risk, credit risk, liquidity risk and regulatory risk. See “Item 1 — Business” in our Annual Report on Form 10-...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. in the shape and slope of the yield curve, among other factors. Through the use of interest rate hedging instruments, we attempt to economically hedge a portion of our exposure to changes, attributa...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. expected to extend, while the values of our interest rate hedging instruments and MSR financing receivables are generally expected to increase due to lower expectations of prepayments in the referen...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. U.S. Treasury yield curve. Changes in fair value are measured as percentage changes from their respective fair values presented in the column labeled “Value.” Our estimate of the change in the fair ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. age and interest rate of the mortgages underlying the agency MBS, prior exposure to refinancing opportunities, and an overall analysis of historical prepayment patterns under a variety of historical...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. slope of the forward yield curve. •The analyses assume a static portfolio and do not reflect activities and strategic actions that management may take in the future to manage interest rate risk in ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. do not reflect activities and strategic actions that management may take in the future to manage interest rate risk in response to significant changes in interest rates or other market conditions. ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. intended to provide a precise forecast. Actual results could differ materially from these estimates (dollars in thousands, except per share amounts): March 31, 2023 Value Value with 50 with 50 ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 180,835 Equity available to common stock percent change (0.34 )% (0.49 )% March 31, 2023 Value Value with 100 with 100 Basis Point Basis Point Increase in Decrease in Value Interest R...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 179,612 Equity available to common stock percent change (0.59 )% (1.16 )% (1) Equity available to common stock is calculated as total equity less the preferred stock liquidation preference. S...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. impacting the mortgage and fixed income markets, such as actual or anticipated monetary policy actions by the U. S. Federal Reserve, liquidity, or changes in market participants’ required rates of r...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. changes from their respective fair values presented in the column labeled “Value.” The sensitivity of our agency MBS and TBA commitments to changes in MBS spreads is derived from The Yield Book, a t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Decrease In Agency MBS Agency MBS Value Spreads Spreads Agency MBS 460,984 458,317 463,651 TBA commitments (10,614 (8,369 (12,860 Equity available to common stock (1) 181,725 181,30...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ,651 TBA commitments (10,614 (5,001 (16,228 Equity available to common stock (1) 181,725 180,672 182,778 Equity available to common stock percent change (0.58 )% 0.58 (1) Equity availab...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. or interest cash flows stemming from our investments due to an underlying borrower’s or issuer’s default on their obligation. Upon a mortgage loan borrower’s default, a foreclosure sale or other li...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. their respective principal balance, prior to being allocated to our investments. Other of our non-agency MBS investments represent “first loss” positions. Accordingly, for such investments, credit...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. manage our credit risk will be successful. We could experience substantial losses if the credit performance of the mortgage loans to which we are exposed falls short of our expectations. Cautionar...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 4, as amended (the “Exchange Act”), and, as such, may involve known and unknown risks, uncertainties and assumptions. The forward-looking statements we make in this Quarterly Report on Form 10-Q incl...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. MBS collateralized by such mortgage loans; •our ability to forecast our tax attributes, which are based upon various facts and assumptions, and our ability to protect and use our net operating loss...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. protect and use our net operating losses (“NOLs”) and net capital losses (“NCLs”) to offset future taxable income, including whether our shareholder rights plan, as amended (“Rights Plan”) will be e...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. assumptions regarding default rates on the mortgage loans securing our non-agency MBS; •the effect of governmental regulation and actions on our business, including, without limitation, changes to ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , and ability to make, future dividends; our asset valuation policies; •investing in assets other than mortgage investments or pursuing business activities other than investing in mortgage investme...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. under the Investment Company Act of 1940, as amended; and Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account informatio...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. recessionary environment on our business. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account information currently in o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Secured Overnight Financing Rate (“SOFR”) and establishment of alternative reference rates; the overall environment for interest rates, changes in interest rates, interest rate spreads, the yield c...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. short-term borrowings to finance our mortgage-related holdings; potential risk attributable to our mortgage-related portfolios, including changes in fair value; •the availability of certain short-...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. changes in, and success of, our acquisition, hedging and leverage strategies, changes in our asset allocation and changes in our operational policies, all of which may be changed by us without shareh...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. and industry practices that may adversely affect our business; fluctuating quarterly operating results; •volatility of the securities markets and activity in the secondary securities markets in th...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. pandemic or other public health emergencies; and our ability to successfully expand our business into areas other than investing in MBS and our expectations of the returns of expanding into any suc...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. only as of the date on which they are made. New risks and uncertainties arise over time and it is not possible to predict those events or how they may affect us. Except as required by law, we are no...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -looking statements we make. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time and it is not possible to predict those event...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. evaluation of the effectiveness of our disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) pursuant to Rule 13a-15(b) of the Exchange Act. Based upon that eva...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. over financial reporting that occurred during the quarter ended March 31, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial repor...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. could materially affect our financial condition, results of operations and liquidity. Furthermore, we operate in highly-regulated markets that currently are under intense regulatory scrutiny, and we...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. changes to the risk factors disclosed in Item 1A. “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2022. The materialization of any risks and uncertainties identified...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Purchases of Equity Securities by the Issuer None. Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosur...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Perpetual Redeemable Preferred Stock, $0.01 par value per share (incorporated by reference to Exhibit 3.2 to the Company’s Registration Statement on Form 8-A filed on May 9, 2017). 3.03 Articles o...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Articles of Incorporation of Arlington Asset Investment Corp. (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on June 25, 2019). 3.05 Amended and Restat...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ). 4.02 Indenture governing the Subordinated Debt Securities by and between the Company and The Bank of New York Mellon, as Trustee (incorporated by reference to Exhibit 4.2 to the Company’s Regist...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Company and Wells Fargo Bank, National Association, as trustee (incorporated by reference to Exhibit 4.2 of the Company’s Current Report on Form 8-K filed on May 1, 2013). 4.05 Form of Senior Note...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. for Class A common stock (incorporated by reference to Exhibit 4.01 of the Annual Report on Form 10-K filed with the SEC on February 24, 2010). 4.08 Shareholder Rights Agreement, dated June 5, 200...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , dated as of March 18, 2015, between the Company, Wells Fargo Bank, National Association, as Trustee and The Bank of New York Mellon, as Series Trustee (incorporated by reference to Exhibit 4.3 to t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 1 to the Company’s Registration Statement on Form 8-A filed on May 9, 2017). 4.13 Form of specimen certificate representing the shares of 8.250% Series C Fixed-to-Floating Rate Cumulative Redeemabl...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Form of 6.000% Senior Notes Due 2026 (incorporated by reference to Exhibit 4.6 to the Company’s Registration Statement on Form 8-A filed on July 15, 2021). 4.16 Second Amendment to Shareholder Righ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Chief Financial Officer pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.* 56 32.01 Certification of Chief Executive Officer pursuant to ...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. RL tags are embedded within the Inline XBRL document.*** 101.SCH Inline XBRL Taxonomy Extension Schema Document*** 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document*** 101.DEF...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. -Q for the quarter ended March 31, 2023, formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets at March 31, 2023 and December 31, 2022; (ii) Consolidated Stateme...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ARLINGTON ASSET INVESTMENT CORP. By: /s/ RICHARD E. KONZMANN Ric...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 98-1592112 (State or other jurisdiction ofincorporation or organization) (CommissionFile Number) (I.R.S. EmployerIdentification Number) 245 Park Avenue, 44th Floor, New York, NY 10167 (Address...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. AACT.U New York Stock Exchange Class A Ordinary Shares included as part of the units AACT New York Stock Exchange Redeemable warrants, included as part of the units, each whole warrant exercis...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapt...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. ated Filer Accelerated Filer Non-Accelerated Filer Smaller Reporting Company Emerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to us...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 0001, were issued and outstanding. Table of Contents ARES ACQUISITION CORPORATION II Quarterly Report on Form 10-Q Table of Contents Page PART I—FINANCIAL INFORMATION Item 1. Unaudited Condens...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. , 2023 and 2022 Notes to Unaudited Condensed Financial Statements Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3. Quantitative and Qualita...
YOU are a financial analyst. You are reading a report of a company. The report is about the company's financial status. 21 Table of Contents PART I—FINANCIAL INFORMATION Item 1. Financial Statements ARES ACQUISITION CORPORATION II CONDENSED BALANCE SHEETS As of March 31, As of December 31, 2023 2022 (Unaudit...