Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash Flows From Operating Activities:    
Net income attributable to common stockholders $ 532,353 $ 75,804
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Amortization of premiums and discounts on available-for-sale securities, net 12,406 (9,058)
Other-than-temporary impairment losses 1,662 8,751
Realized and unrealized gains on investment securities, net (77,653) (11,720)
(Gain) loss on mortgage loans held-for-sale 20,819 22
Gain on mortgage loans held-for-investment and collateralized borrowings in securitization trust (7,847) 0
Unrealized loss on mortgage servicing rights 45 0
Loss on termination and option expiration of interest rate swaps and swaptions 62,675 18,540
Unrealized (gain) loss on interest rate swaps and swaptions (374,884) 46,296
Unrealized (gain) loss on other derivative instruments (8,131) (4,799)
Equity based compensation expense 999 433
Depreciation of fixed assets 256 46
Depreciation of real estate 0 32
Purchases of mortgage loans held-for-sale (954,027) (6,618)
Proceeds from sales of mortgage loans held-for-sale 25,404 0
Proceeds from repayment of mortgage loans held-for-sale 9,649 1,026
Net change in assets and liabilities:    
(Increase)/decrease in accrued interest receivable (11,467) (12,517)
(Increase)/decrease in deferred income taxes, net 52,692 (19,720)
(Increase)/decrease in current income tax receivable 4,323 (4,465)
(Increase)/decrease in prepaid and fixed assets (557) (600)
(Increase)/decrease in other receivables 28,437 0
(Increase)/decrease in servicing advances (4,881) 0
Increase/(decrease) in accrued interest payable, net (1,550) 5,089
Increase/(decrease) in income taxes payable 1,320 (3,632)
Increase/(decrease) in accrued expenses and other liabilities 379 2,252
Net change in assets and liabilities due to purchase of entity 3,306 0
Net cash (used in) provided by operating activities (684,272) 85,162
Cash Flows From Investing Activities:    
Purchases of available-for-sale securities (3,142,095) (4,696,861)
Proceeds from sales of available-for-sale securities 986,357 197,714
Principal payments on available-for-sale securities 556,549 295,829
Purchases of other derivative instruments (49,526) (205,440)
Proceeds from sales of other derivative instruments, net 47,890 69,699
Purchases of trading securities 0 (996,016)
Proceeds from sales of trading securities 0 1,001,904
Purchases of mortgage loans held-for-investment in securitization trust (442,788) 0
Proceeds from repayment of mortgage loans held-for-investment in securitization trust 16,684 0
Purchases of investments in real estate 0 (71,758)
Purchase of entity (6,404) 0
Increase/(decrease) in due to counterparties, net (50,054) 72,932
(Increase)/decrease in restricted cash (383,643) 28,251
(Increase)/decrease in escrow deposits of discontinued operations 0 (28,693)
Net cash used in investing activities (2,467,030) (4,332,439)
Cash Flows From Financing Activities:    
Proceeds from repurchase agreements 73,388,331 23,100,723
Principal payments on repurchase agreements (71,109,686) (19,322,430)
Proceeds from issuance of collateralized borrowings in securitization trust 412,216 0
Principal payments on collateralized borrowings in securitization trust (16,600) 0
Proceeds from issuance of common stock, net of offering costs 763,226 769,812
Proceeds from exercise of warrants 101,600 0
Increase in receivable from issuance of common stock 0 (22,248)
Repurchase of common stock (10,498) 0
Dividends paid on common stock (281,171) (141,922)
Net cash provided by financing activities 3,247,418 4,383,935
Net increase in cash and cash equivalents 96,116 136,658
Cash and cash equivalents at beginning of period 821,108 360,016
Cash and cash equivalents at end of period 917,224 496,674
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 50,108 10,438
Cash (received) paid for taxes (4,252) 3,635
Noncash Investing and Financing Activities:    
Distribution of Silver Bay common stock 343,481 0
Cashless exercise of warrants 75 0
Cash dividends declared but not paid at end of period 113,378 87,061
Reconciliation of mortgage loans held-for-sale:    
Mortgage loans held-for-sale at beginning of period 58,607 5,782
Purchases of mortgage loans held-for-sale 954,027 6,618
Proceeds from sales of mortgage loans held-for-sale (25,404) 0
Proceeds from repayment of mortgage loans held-for-sale (9,649) (1,026)
Realized and unrealized gains (losses) on mortgage loans held-for-sale (19,380) 4
Mortgage loans held-for-sale at end of period $ 958,201 $ 11,378