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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
Net income | $ 378,117 | $ 301,801 | $ 322,393
Other Comprehensive Income/(Loss): |  |  |
Reclassification adjustment for MBS sales included in net income | (44,600) | (51,580) | (38,707)
Reclassification adjustment for other-than-temporary impairments included in net income | (180) | (1,259) | (1,032)
Derivative hedging instrument fair value changes, net | (23,342) | 14,545 | 35,297
Amortization of de-designated hedging instruments, net | (2,454) | 0 | 0
Other Comprehensive Income/(Loss) | (50,241) | (188,936) | 35,542
Comprehensive income before preferred stock dividends | 327,876 | 112,865 | 357,935
Dividends declared on preferred stock | (15,000) | (15,000) | (15,000)
Comprehensive Income Available to Common Stock and Participating Securities | 312,876 | 97,865 | 342,935
Agency MBS |  |  |
Other Comprehensive Income/(Loss): |  |  |
Unrealized (loss)/gain on holdings | 21,844 | (17,891) | (39,158)
Non-Agency MBS, CRT Securities and MSR Term Notes |  |  |
Other Comprehensive Income/(Loss): |  |  |
Unrealized (loss)/gain on holdings | $ (1,509) | $ (132,751) | $ 79,142

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