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10-Q Filing

INVESCO MORTGAGE CAPITAL INC. CIK: 1437071 Q1 2012
Filing Information
Form Type 10-Q
Accession Number 0001193125-12-221064
Period End Date 20120331
Filing Date 20120509
Fiscal Year 2012
Fiscal Period Q1
XBRL Instance ivr-20120331.xml
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Mortgage-backed securities, at fair value FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue $14.21B USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Mortgage-backed securities, at fair value FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue $15.58B USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $63.55M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $280.24M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $155.80M USD Point-in-time
Cash CashAndCashEquivalentsAtCarryingValue $197.22M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $16.07M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $74.50M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Investment related receivable NotesReceivableNet $160.42M USD Point-in-time
Investment related receivable NotesReceivableNet $35.08M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 450.00M shares Point-in-time
Investments in unconsolidated ventures, at fair value EquityMethodInvestments $52.19M USD Point-in-time
Investments in unconsolidated ventures, at fair value EquityMethodInvestments $68.79M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 450.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 115.40M shares Point-in-time
Accrued interest receivable InterestReceivable $54.17M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 115.40M shares Point-in-time
Accrued interest receivable InterestReceivable $56.18M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 115.40M shares Point-in-time
Derivative assets, at fair value DerivativeFairValueOfDerivativeAsset $1.17M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 115.40M shares Point-in-time
Derivative assets, at fair value DerivativeFairValueOfDerivativeAsset $1.34M USD Point-in-time
Other assets OtherAssets $1.57M USD Point-in-time
Other assets OtherAssets $1.43M USD Point-in-time
Total assets Assets $14.77B USD Point-in-time
Total assets Assets $15.90B USD Point-in-time
Repurchase agreements SecuritiesSoldUnderAgreementsToRepurchase $12.25B USD Point-in-time
Repurchase agreements SecuritiesSoldUnderAgreementsToRepurchase $13.01B USD Point-in-time
Derivative liability, at fair value DerivativeFairValueOfDerivativeLiability $396.78M USD Point-in-time
Derivative liability, at fair value DerivativeFairValueOfDerivativeLiability $380.20M USD Point-in-time
Dividends and distributions payable DividendsPayableCurrentAndNoncurrent $75.93M USD Point-in-time
Dividends and distributions payable DividendsPayableCurrentAndNoncurrent $75.94M USD Point-in-time
Investment related payable InvestmentRelatedLiabilities $259.47M USD Point-in-time
Investment related payable InvestmentRelatedLiabilities $107.03M USD Point-in-time
Accrued interest payable InterestPayableCurrentAndNoncurrent $12.38M USD Point-in-time
Accrued interest payable InterestPayableCurrentAndNoncurrent $12.08M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $796.00K USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $556.00K USD Point-in-time
Due to affiliate DueToAffiliateCurrentAndNoncurrent $9.04M USD Point-in-time
Due to affiliate DueToAffiliateCurrentAndNoncurrent $8.94M USD Point-in-time
Total liabilities Liabilities $13.74B USD Point-in-time
Total liabilities Liabilities $12.85B USD Point-in-time
Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized, 0 shares issued and outstanding PreferredStockValue - USD Point-in-time
Preferred Stock: par value $0.01 per share; 50,000,000 shares authorized, 0 shares issued and outstanding PreferredStockValue - USD Point-in-time
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 115,403,555 and 115,395,695 shares issued and outstanding, at March 31, 2012 and December 31, 2011, respectively CommonStockValue $1.15M USD Point-in-time
Common Stock: par value $0.01 per share; 450,000,000 shares authorized, 115,403,555 and 115,395,695 shares issued and outstanding, at March 31, 2012 and December 31, 2011, respectively CommonStockValue $1.15M USD Point-in-time
Additional paid in capital AdditionalPaidInCapitalCommonStock $2.30B USD Point-in-time
Additional paid in capital AdditionalPaidInCapitalCommonStock $2.30B USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-169.89M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-393.29M USD Point-in-time
Distributions in excess of earnings RetainedEarningsAccumulatedDeficit $-7.00M USD Point-in-time
Distributions in excess of earnings RetainedEarningsAccumulatedDeficit $-15.07M USD Point-in-time
Total shareholders' equity StockholdersEquity $2.12B USD Point-in-time
Total shareholders' equity StockholdersEquity $1.89B USD Point-in-time
Non-controlling interest MinorityInterest $27.93M USD Point-in-time
Non-controlling interest MinorityInterest $25.07M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.15B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.92B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $14.77B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $15.90B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Interest income InterestIncomeSecuritiesMortgageBacked $141.96M USD 1 Quarter
Interest income InterestIncomeSecuritiesMortgageBacked $68.54M USD 1 Quarter
Interest expense InterestExpense $15.58M USD 1 Quarter
Interest expense InterestExpense $55.28M USD 1 Quarter
Net interest income InterestIncomeExpenseNet $52.96M USD 1 Quarter
Net interest income InterestIncomeExpenseNet $86.67M USD 1 Quarter
Gain on sale of investments GainLossOnSalesOfMortgageBackedSecuritiesMBS $6.04M USD 1 Quarter
Gain on sale of investments GainLossOnSalesOfMortgageBackedSecuritiesMBS $1.20M USD 1 Quarter
Equity in earnings and fair value change in unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.86M USD 1 Quarter
Equity in earnings and fair value change in unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.01M USD 1 Quarter
Unrealized loss on interest rate swaps UnrealizedGainLossOnDerivatives $-509.00K USD 1 Quarter
Unrealized loss on interest rate swaps UnrealizedGainLossOnDerivatives $-5.00K USD 1 Quarter
Realized and unrealized credit default swap income RealizedAndUnrealizedCreditDefaultSwapIncome $657.00K USD 1 Quarter
Realized and unrealized credit default swap income RealizedAndUnrealizedCreditDefaultSwapIncome $2.53M USD 1 Quarter
Total other income OtherIncome $7.20M USD 1 Quarter
Total other income OtherIncome $5.58M USD 1 Quarter
Management fee - related party RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty $3.98M USD 1 Quarter
Management fee - related party RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty $8.64M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $1.13M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $868.00K USD 1 Quarter
Total expenses OperatingExpenses $4.84M USD 1 Quarter
Total expenses OperatingExpenses $9.77M USD 1 Quarter
Net income ProfitLoss $53.70M USD 1 Quarter
Net income ProfitLoss $84.11M USD 1 Quarter
Net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $1.45M USD 1 Quarter
Net income attributable to non-controlling interest NetIncomeLossAttributableToNoncontrollingInterest $1.03M USD 1 Quarter
Net income attributable to common shareholders NetIncomeLoss $83.08M USD 1 Quarter
Net income attributable to common shareholders NetIncomeLoss $52.25M USD 1 Quarter
Net income attributable to common shareholders (basic/diluted) EarningsPerShareBasicAndDiluted $0.72 USD 1 Quarter
Net income attributable to common shareholders (basic/diluted) EarningsPerShareBasicAndDiluted $1.01 USD 1 Quarter
Dividends declared per common share CommonStockDividendsPerShareDeclared $1.00 USD 1 Quarter
Dividends declared per common share CommonStockDividendsPerShareDeclared $0.65 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 115.40M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 51.86M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 53.29M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 116.85M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $53.70M USD 1 Quarter
Net income ProfitLoss $84.11M USD 1 Quarter
Amortization of mortgage-backed securities premiums and discounts, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $-5.17M USD 1 Quarter
Amortization of mortgage-backed securities premiums and discounts, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $-25.40M USD 1 Quarter
Unrealized loss on interest swap UnrealizedGainLossOnDerivatives $-509.00K USD 1 Quarter
Unrealized loss on interest swap UnrealizedGainLossOnDerivatives $-5.00K USD 1 Quarter
Unrealized (gain) loss on credit default swap UnrealizedGainLossOnCreditDefaultSwap $-1.45M USD 1 Quarter
Unrealized (gain) loss on credit default swap UnrealizedGainLossOnCreditDefaultSwap $168.00K USD 1 Quarter
Gain on sale of mortgage-backed securities GainLossOnSalesOfMortgageBackedSecuritiesMBS $6.04M USD 1 Quarter
Gain on sale of mortgage-backed securities GainLossOnSalesOfMortgageBackedSecuritiesMBS $1.20M USD 1 Quarter
Equity in earnings and fair value change in unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.86M USD 1 Quarter
Equity in earnings and fair value change in unconsolidated ventures IncomeLossFromEquityMethodInvestments $1.01M USD 1 Quarter
Amortization of equity-based compensation ShareBasedCompensation $30.00K USD 1 Quarter
Amortization of equity-based compensation ShareBasedCompensation $77.00K USD 1 Quarter
Increase in accrued interest IncreaseDecreaseInAccruedInterestReceivableNet $2.01M USD 1 Quarter
Increase in accrued interest IncreaseDecreaseInAccruedInterestReceivableNet $8.60M USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $121.00K USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-150.00K USD 1 Quarter
(Decrease) increase in accrued interest payable IncreaseDecreaseInInterestPayableNet $2.81M USD 1 Quarter
(Decrease) increase in accrued interest payable IncreaseDecreaseInInterestPayableNet $-293.00K USD 1 Quarter
(Decrease) increase in due to affiliate IncreaseDecreaseInDueToAffiliatesCurrent $908.00K USD 1 Quarter
(Decrease) increase in due to affiliate IncreaseDecreaseInDueToAffiliatesCurrent $-57.00K USD 1 Quarter
(Decrease) increase in accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-102.00K USD 1 Quarter
(Decrease) increase in accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $281.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $101.28M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $49.30M USD 1 Quarter
Purchase of mortgage-backed securities PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale $1.91B USD 1 Quarter
Purchase of mortgage-backed securities PaymentsToAcquireMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale $2.01B USD 1 Quarter
Distributions from investment in unconsolidated ventures, net DistributionsFromInvestmentInUnconsolidatedVentures $-17.61M USD 1 Quarter
Distributions from investment in unconsolidated ventures, net DistributionsFromInvestmentInUnconsolidatedVentures $-1.84M USD 1 Quarter
Principal payments from mortgage-backed securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $223.62M USD 1 Quarter
Principal payments from mortgage-backed securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $540.61M USD 1 Quarter
Investment related receivable InvestmentRelatedReceivable $-274.00K USD 1 Quarter
Proceeds from sale of mortgage-backed securities ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale $570.41M USD 1 Quarter
Proceeds from sale of mortgage-backed securities ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale $42.47M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-877.16M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.64B USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $470.14M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $-36.00K USD 1 Quarter
Restricted cash ProceedsFromRepaymentsOfRestrictedCashFinancingActivities $-35.15M USD 1 Quarter
Restricted cash ProceedsFromRepaymentsOfRestrictedCashFinancingActivities $57.08M USD 1 Quarter
Proceeds from repurchase agreements ProceedsFromOtherShortTermDebt $33.93B USD 1 Quarter
Proceeds from repurchase agreements ProceedsFromOtherShortTermDebt $11.85B USD 1 Quarter
Principal repayments of repurchase agreements RepaymentsOfOtherShortTermDebt $10.45B USD 1 Quarter
Principal repayments of repurchase agreements RepaymentsOfOtherShortTermDebt $33.18B USD 1 Quarter
Investment related payable InvestmentRelatedPayable $-13.06M USD 1 Quarter
Payments of dividends and distributions PaymentsOfDividendsCommonStock $49.74M USD 1 Quarter
Payments of dividends and distributions PaymentsOfDividendsCommonStock $75.93M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $734.46M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $1.80B USD 1 Quarter
Net change in cash CashAndCashEquivalentsPeriodIncreaseDecrease $-41.42M USD 1 Quarter
Net change in cash CashAndCashEquivalentsPeriodIncreaseDecrease $216.69M USD 1 Quarter
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $63.55M USD Point-in-time
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $280.24M USD Point-in-time
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $155.80M USD Point-in-time
Cash, beginning of period CashAndCashEquivalentsAtCarryingValue $197.22M USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $63.55M USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $280.24M USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $155.80M USD Point-in-time
Cash, end of period CashAndCashEquivalentsAtCarryingValue $197.22M USD Point-in-time
Interest paid InterestPaid $55.58M USD 1 Quarter
Interest paid InterestPaid $12.76M USD 1 Quarter
Net change in unrealized gain on available-for-sale securities and derivatives NetChangeInUnrealizedGainOnAvailableForSaleSecuritiesAndDerivatives $40.15M USD 1 Quarter
Net change in unrealized gain on available-for-sale securities and derivatives NetChangeInUnrealizedGainOnAvailableForSaleSecuritiesAndDerivatives $226.16M USD 1 Quarter
Net change in unconsolidated ventures NetChangeInEquityInvestments $3.47M USD 1 Quarter
Net change in restricted cash NetChangeInRestrictedCash $1.35M USD 1 Quarter
Net change in restricted cash NetChangeInRestrictedCash $-5.95M USD 1 Quarter
Dividends and distributions declared not paid DividendsPayableAmount $51.73M USD Point-in-time
Dividends and distributions declared not paid DividendsPayableAmount $75.94M USD Point-in-time
Payable for mortgage-backed securities purchased PayableForMortgageBackedSecuritiesPurchased $-279.40M USD 1 Quarter
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.15B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.92B USD Point-in-time
Net income ProfitLoss $53.70M USD 1 Quarter
Net income ProfitLoss $84.11M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease $226.16M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease $40.15M USD 1 Quarter
Net proceeds from issuance of common stock, net of offering costs StockIssuedDuringPeriodValueNewIssues $42.00K USD 1 Quarter
Common stock dividends DividendsCommonStockCash $75.01M USD 1 Quarter
Common unit dividends MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $926.00K USD 1 Quarter
Amortization of equity-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $77.00K USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.15B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.92B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $53.70M USD 1 Quarter
Net income ProfitLoss $84.11M USD 1 Quarter
Unrealized gains on available for sale securities, net OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $209.07M USD 1 Quarter
Unrealized gains on available for sale securities, net OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $9.95M USD 1 Quarter
Unrealized gains on derivatives, net OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $17.09M USD 1 Quarter
Unrealized gains on derivatives, net OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $30.20M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease $226.16M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease $40.15M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $310.27M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $93.85M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $3.78M USD 1 Quarter
Less: comprehensive income attributable to non-controlling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $2.35M USD 1 Quarter
Comprehensive income attributable to common shareholders ComprehensiveIncomeNetOfTax $306.49M USD 1 Quarter
Comprehensive income attributable to common shareholders ComprehensiveIncomeNetOfTax $91.50M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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