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SUMMARIZED QUARTERLY RESULTS (UNAUDITED) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
SUMMARIZED QUARTERLY RESULTS (UNAUDITED) |
23. SUMMARIZED QUARTERLY RESULTS (UNAUDITED)
The following is a presentation of summarized quarterly results of operations for the years ended December 31, 2019 and 2018. These quarterly results were prepared in accordance with GAAP and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal, recurring nature.
| For the Quarters Ended
| December 31, 2019 |  | September 30, 2019 |  | June 30, 2019 |  | March 31, 2019
| (dollars in thousands, expect per share data)
Interest income | $ | 1,074,214 |  |  | $ | 919,299 |  |  | $ | 927,598 |  |  | $ | 866,186 |
Interest expense | 620,058 |  |  | 766,905 |  |  | 750,217 |  |  | 647,695 |
Net interest income | 454,156 |  |  | 152,394 |  |  | 177,381 |  |  | 218,491 |
Total realized and unrealized gains (losses) | 785,687 |  |  | (875,406 | ) |  | (1,909,482 | ) |  | (1,011,926 | )
Total other income (loss) | 42,656 |  |  | 35,074 |  |  | 28,181 |  |  | 30,502 |
Less: Total general and administrative expenses | 73,351 |  |  | 66,138 |  |  | 78,408 |  |  | 83,737 |
Income (loss) before income taxes | 1,209,148 |  |  | (754,076 | ) |  | (1,782,328 | ) |  | (846,670 | )
Less: Income taxes | (594 | ) |  | (6,907 | ) |  | (5,915 | ) |  | 2,581 |
Net income (loss) | 1,209,742 |  |  | (747,169 | ) |  | (1,776,413 | ) |  | (849,251 | )
Less: Net income attributable to noncontrolling interests | 68 |  |  | (110 | ) |  | (83 | ) |  | (101 | )
Less: Dividends on preferred stock (1) | 35,509 |  |  | 36,151 |  |  | 32,422 |  |  | 32,494 |
Net income (loss) available (related) to common stockholders | $ | 1,174,165 |  |  | $ | (783,210 | ) |  | $ | (1,808,752 | ) |  | $ | (881,644 | )
Net income (loss) available (related) per share to common stockholders |  |  |  |  |  |
Basic | $ | 0.82 |  |  | $ | (0.54 | ) |  | $ | (1.24 | ) |  | $ | (0.63 | )
Diluted | $ | 0.82 |  |  | $ | (0.54 | ) |  | $ | (1.24 | ) |  | $ | (0.63 | )
| For the Quarters Ended
| December 31, 2018 |  | September 30, 2018 |  | June 30, 2018 |  | March 31, 2018
| (dollars in thousands, expect per share data)
Interest income | $ | 859,674 |  |  | $ | 816,596 |  |  | $ | 776,806 |  |  | $ | 879,487 |
Interest expense | 586,774 |  |  | 500,973 |  |  | 442,692 |  |  | 367,421 |
Net interest income | 272,900 |  |  | 315,623 |  |  | 334,114 |  |  | 512,066 |
Total realized and unrealized gains (losses) | (2,502,035 | ) |  | 199,716 |  |  | 294,646 |  |  | 844,689 |
Total other income (loss) | 52,377 |  |  | (10,643 | ) |  | 34,170 |  |  | 34,023 |
Less: Total general and administrative expenses | 77,073 |  |  | 126,509 |  |  | 63,781 |  |  | 62,510 |
Income (loss) before income taxes | (2,253,831 | ) |  | 378,187 |  |  | 599,149 |  |  | 1,328,268 |
Less: Income taxes | 1,041 |  |  | (7,242 | ) |  | 3,262 |  |  | 564 |
Net income (loss) | (2,254,872 | ) |  | 385,429 |  |  | 595,887 |  |  | 1,327,704 |
Less: Net income attributable to noncontrolling interests | 17 |  |  | (149 | ) |  | (32 | ) |  | (96 | )
Less: Dividends on preferred stock | 32,494 |  |  | 31,675 |  |  | 31,377 |  |  | 33,766 |
Net income (loss) available (related) to common stockholders | $ | (2,287,383 | ) |  | $ | 353,903 |  |  | $ | 564,542 |  |  | $ | 1,294,034 |
Net income (loss) available (related) per share to common stockholders |  |  |  |  |  |
Basic | $ | (1.74 | ) |  | $ | 0.29 |  |  | $ | 0.49 |  |  | $ | 1.12 |
Diluted | $ | (1.74 | ) |  | $ | 0.29 |  |  | $ | 0.49 |  |  | $ | 1.12 |
(1) The quarter ended September 30, 2019 excludes, and the quarter ended June 30, 2019 includes, cumulative and undeclared dividends of $0.3 million on the Company's Series I Preferred Stock as of June 30, 2019.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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