$AGNCO

American Capital Agency Corp

CIK:0001423689|SEC Filings

Consolidated Statements Of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income, Operating	$ 1,014	$ 830	$ 2,064	$ 1,676
Interest Expense, Operating	709	668	1,440	1,355
Net interest income	$ 305	$ 162	$ 624	$ 321
Dividends declared per common share	$ 0.36	$ 0.36	$ 0.72	$ 0.72
Net gain (loss) on sale of investment securities	$ (16)	$ (177)	$ 58	$ (422)
Unrealized gain (loss) on investment securities measured at fair value through net income, net	(90)	270	(979)	1,453
(Loss) gain on derivative instruments and other securities, net	485	(367)	867	(1,386)
Nonoperating Income (Expense)	379	(274)	(54)	(355)
Labor and Related Expense	19	18	42	37
General and administrative expenses	11	10	22	19
Total expenses	30	28	64	56
Net income (loss)	654	(140)	506	(90)
Dividend on preferred stock	44	38	88	73
Net income (loss) available (attributable) to common stockholders	610	(178)	418	(163)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	(7)	48	(15)	141
Comprehensive income (loss)	647	(92)	491	51
Comprehensive income (loss) available (attributable) to common stockholders	$ 603	$ (130)	$ 403	$ (22)
Weighted average number of common shares outstanding - basic	1,157.6	1,017.3	1,140.2	968.0
Weighted average number of common shares outstanding - diluted	1,162.0	1,017.3	1,144.7	968.0
Earnings Per Share, Basic	$ 0.53	$ (0.17)	$ 0.37	$ (0.17)
Net income (loss) per common share - diluted	$ 0.52	$ (0.17)	$ 0.37	$ (0.17)

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 1,786	$ 1,872
Operating activities:
Net income (loss)	506	(90)
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of premiums and discounts on mortgage-backed securities, net	99	69
Stock based compensation	2	4
(Gain) loss on sale of investment securities, net	(58)	422
Unrealized (gain) loss on investment securities measured at fair value through net income, net	979	(1,453)
(Gain) loss on derivative instruments and other securities, net	(867)	1,386
Increase in other assets	(78)	(34)
Increase in other liabilities	22	68
Net cash provided by operating activities	605	372
Investing activities:
Purchases of Agency mortgage-backed securities	(34,221)	(22,054)
Purchases of credit risk transfer and non-Agency securities and other mortgage credit investments	0	(66)
Proceeds from sale of Agency mortgage-backed securities	20,976	12,322
Proceeds from sale of credit risk transfer and non-Agency securities	15	270
Principal collections on Agency mortgage-backed securities	6,391	3,307
Principal collections on credit risk transfer and non-Agency securities	12	9
Payments on U.S. Treasury securities	(34,440)	(17,794)
Proceeds from Sale of U.S. Treasury securities	37,302	19,401
Net payments on reverse repurchase agreements	(1,497)	(3,792)
Net proceeds from (payments on) derivative instruments	777	(774)
Net cash used in investing activities	(4,685)	(9,171)
Financing activities:
Proceeds from repurchase arrangements	5,008,725	3,124,816
Payments on repurchase agreements	(5,004,203)	(3,116,461)
Payments on debt of consolidated variable interest entities	(57)	(6)
Net proceeds from common stock issuance	568	1,308
Cash dividends paid	(909)	(757)
Net cash provided by financing activities	4,124	8,900
Net change in cash and cash equivalents	44	101
Cash and cash equivalents at end of period	457	656
Supplemental disclosure to cash flow information:
Restricted Cash and Cash Equivalent	$ 1,329	$ 1,216

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets:
Agency securities, at fair value (including pledged securities of $80,761 and $74,149, respectively)	$ 86,784	$ 81,003
Agency securities transferred to consolidated variable interest entities, at fair value (pledged securities)	0	85
Credit risk transfer securities, at fair value (including pledged securities of $525 and $558, respectively)	573	606
Non-Agency securities, at fair value, and other mortgage credit investments (including pledged securities of $8 and $13, respectively)	94	95
U.S. Treasury securities, at fair value (including pledged securities of $11,295 and $13,056, respectively)	12,325	13,477
Cash and cash equivalents	457	450
Restricted cash	1,329	1,292
Derivative assets, at fair value	260	169
Receivable for investment securities sold (including pledged securities of $201 and $149, respectively)	401	152
Receivable under reverse repurchase agreements	18,433	16,615
Goodwill and other intangible assets, net	526	526
Other assets	578	607
Total assets	121,760	115,077
Liabilities:
Repurchase Agreements	89,808	85,286
Debt of consolidated variable interest entities, at fair value	0	56
Payable for investment securities purchased	312	193
Derivative liabilities, at fair value	137	6
Dividends payable	184	182
Other liabilities	626	509
Total liabilities	109,217	102,684
Stockholders' equity:
Preferred Stock - aggregate liquidation preference of $2,033	1,968	1,968
Common stock - $0.01 par value; 2,250 shares authorized, 1,164.2 and 1,107.6 shares issued and outstanding, respectively	12	11
Additional paid-in capital	19,830	19,261
Retained deficit	(8,929)	(8,524)
Accumulated other comprehensive loss	(338)	(323)
Total stockholders' equity	12,543	12,393
Total liabilities and stockholders' equity	121,760	115,077
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	$ 18,150	$ 16,452