v3.20.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Cash Dividends, Tax Characteristic

The following table details the tax characteristics of the Company's dividends declared on its shares of common and preferred stock for the years ended December 31, 2020 and 2019.

						Year Ended
Tax Characteristic						December 31, 2020						December 31, 2019
Ordinary income						58.2		%				85.0		%
Return of capital						37.9		%				9.4		%
Capital gains						3.9		%				5.6		%
						100.0		%				100.0		%

Schedule of Components of Income Tax Expense (Benefit)

The following table summarizes the Company's income tax provision for the years ended December 31, 2020 and 2019.

						As of
(In thousands)						December 31, 2020						December 31, 2019
Current income tax provision
Federal						$	38					$	185
State						602						293
Total current income tax provision, net						640						478
Deferred income tax provision
Federal						6,638						1,080
State						4,099						—
Total deferred income tax provision, net						10,737						1,080
Total income tax provision						$	11,377					$	1,558

Schedule of Deferred Tax Assets and Liabilities

The following table details the components of the Company's net deferred tax asset (liability) at December 31, 2020 and 2019.

						As of
(In thousands)						December 31, 2020						December 31, 2019
Deferred tax asset
Net operating loss available for carry-back and carry-forward						$	1,937					$	3,907
Basis difference for investments						1,481						669
Valuation allowance						—						(157)
Deferred tax asset						3,419						4,419
Deferred tax liability
Basis difference for investments						(15,525)						(5,484)
Deferred tax liability						(15,525)						(5,484)
Net deferred tax asset (liability)						$	(12,106)					$	(1,065)

Schedule of Effective Income Tax Rate Reconciliation

The following table details the reconciliation between the Company's U.S. federal and state statutory income tax rate and the effective tax rate for the years ended December 31, 2020 and 2019.

						Year Ended
						December 31, 2020						December 31, 2019
Federal statutory rate						21.00		%				21.00		%
State statutory rate, net of federal benefit						11.83		%				0.45		%
Income attributable to non-controlling interests						(1.78)		%				(1.28)		%
REIT earnings not subject to corporate taxes						(2.43)		%				(17.76)		%
Effective tax rate						28.62		%				2.41		%

X

- Definition

Cash Dividends, Tax Characteristic

+ References

No definition available.

+ Details

Name:	efc_CashDividendsTaxCharacteristicTableTextBlock
Namespace Prefix:	efc_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration