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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018
Net income | $ 95,599 | $ 87,132 | $ 277,496 | $ 240,922
Other Comprehensive Income/(Loss): |  |  |  |
Reclassification adjustment for MBS sales included in net income | (14,499) | (9,455) | (36,370) | (25,580)
Derivative hedging instrument fair value changes, net | (233) | 5,390 | (30,384) | 32,974
Amortization of de-designated hedging instruments, net | (685) | 0 | (1,769) | 0
Other Comprehensive Income/(Loss) | (9,934) | (38,343) | (18,438) | (82,856)
Comprehensive income before preferred stock dividends | 85,665 | 48,789 | 259,058 | 158,066
Dividends declared on preferred stock | (3,750) | (3,750) | (11,250) | (11,250)
Comprehensive Income Available to Common Stock and Participating Securities | 81,915 | 45,039 | 247,808 | 146,816
Agency MBS |  |  |  |
Other Comprehensive Income/(Loss): |  |  |  |
Unrealized (loss)/gain, net | 603 | (9,177) | 22,483 | (27,507)
Non-Agency MBS, CRT Securities and MSR Term Notes [Member] |  |  |  |
Other Comprehensive Income/(Loss): |  |  |  |
Unrealized (loss)/gain, net | $ 4,880 | $ (25,101) | $ 27,602 | $ (62,743)

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