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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Series C Preferred Stock
Series B Preferred Stock
Preferred Stock
Series C Preferred Stock
Preferred Stock
Series B Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Deficit
Series C Preferred Stock
Accumulated Deficit
Series B Preferred Stock
Accumulated Other Comprehensive Income
Preferred stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2020       11,000,000 8,000,000            
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2020           112,929,000          
Beginning balance at Dec. 31, 2020 $ 2,524,802     $ 110 $ 80 $ 1,129 $ 3,851,517 $ (1,405,327)     $ 77,293
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) 328,870             328,870      
Issuance of common stock, net of expenses (in shares)           288,000          
Issuance of common stock, net of expenses $ 1,832         $ 3 1,829        
Repurchase of shares of common stock (in shares) (5,025,374)         (5,079,000) [1]          
Repurchase of shares of common stock [1] $ (86,393)         $ (50) (86,343)        
Equity based compensation expense 9,038           9,038        
Change in accrued dividends attributable to stock-based awards (837)           (559) (278)      
Dividends declared on common stock (169,275)             (169,275)      
Dividends declared on preferred stock (32,875) $ (17,875) $ (15,000)           $ (17,875) $ (15,000)  
Dividends attributable to dividend equivalents (599)             (599)      
Change in unrealized losses on securities, net (32,774)                   (32,774)
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk 1,059                   1,059
Preferred stock, shares outstanding, ending balance (in shares) at Dec. 31, 2021       11,000,000 8,000,000            
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2021           108,138,000          
Ending balance at Dec. 31, 2021 2,542,848     $ 110 $ 80 $ 1,082 3,775,482 (1,279,484)     45,578
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) (231,581)             (231,581)      
Issuance of common stock, net of expenses (in shares)           197,000          
Issuance of common stock, net of expenses $ 1,098         $ 1 1,097        
Repurchase of shares of common stock (in shares) (6,476,746)         (6,533,000) [1]          
Repurchase of shares of common stock [1] $ (103,253)         $ (65) (103,188)        
Equity based compensation expense 11,335           11,335        
Change in accrued dividends attributable to stock-based awards (2,432)           (435) (1,997)      
Dividends declared on common stock (171,426)             (171,426)      
Dividends declared on preferred stock (32,875) $ (17,875) $ (15,000)           (17,875) (15,000)  
Dividends attributable to dividend equivalents (628)             (628)      
Change in unrealized losses on securities, net (25,492)                   (25,492)
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk $ 1,255                   1,255
Preferred stock, shares outstanding, ending balance (in shares) at Dec. 31, 2022   11,000,000 8,000,000 11,000,000 8,000,000            
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2022 101,802,000         101,802,000          
Ending balance at Dec. 31, 2022 $ 1,988,849     $ 110 $ 80 $ 1,018 3,684,291 (1,717,991)     21,341
Increase (Decrease) in Stockholders' Equity                      
Net income/(loss) 80,164             80,164      
Issuance of common stock, net of expenses (in shares)           172,000          
Issuance of common stock, net of expenses $ (6)         $ 1 (7)        
Repurchase of shares of common stock (in shares) 0         (58,000) [1]          
Repurchase of shares of common stock [1] $ (600)           (600)        
Equity based compensation expense 14,526           14,526        
Change in accrued dividends attributable to stock-based awards (3,376)           557 (3,933)      
Dividends declared on common stock (142,681)             (142,681)      
Dividends declared on preferred stock (32,875) $ (17,875) $ (15,000)           $ (17,875) $ (15,000)  
Dividends attributable to dividend equivalents (443)             (443)      
Change in unrealized losses on securities, net (3,643)                   (3,643)
Changes in fair value of financing agreements at fair value due to changes in instrument-specific credit risk $ 0                    
Preferred stock, shares outstanding, ending balance (in shares) at Dec. 31, 2023   11,000,000 8,000,000 11,000,000 8,000,000            
Common stock, shares outstanding, ending balance (in shares) at Dec. 31, 2023 101,916,000         101,916,000          
Ending balance at Dec. 31, 2023 $ 1,899,915     $ 110 $ 80 $ 1,019 $ 3,698,767 $ (1,817,759)     $ 17,698
[1] For the year ended December 31, 2023, includes approximately $600,000 (58,505 shares) surrendered for tax purposes related to equity-based compensation awards. For the year ended December 31, 2022, includes approximately $1.0 million (56,690 shares) surrendered for tax purposes related to equity-based compensation awards. For the year ended December 31, 2021, includes approximately $799,000 (53,281 shares) surrendered for tax purposes related to equity-based compensation awards.