10-Q Filing

ELLINGTON CREDIT CO CIK: 1560672 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001560672-18-000022`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	earn-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 34 Cash Flow Statement 75 Stockholders Equity 17

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.02M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.12M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Mortgage-backed securities, at fair value	`FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue`	$1.63B	USD	Point-in-time
Mortgage-backed securities, at fair value	`FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue`	$1.69B	USD	Point-in-time
Due from brokers	`DuefromBrokers`	$32.06M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from brokers	`DuefromBrokers`	$26.75M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Financial derivativesassets, at fair value	`DerivativeAssets`	$13.53M	USD	Point-in-time
Financial derivativesassets, at fair value	`DerivativeAssets`	$8.79M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Reverse repurchase agreements	`SecuritiesPurchasedUnderAgreementsToResell`	$44.62M	USD	Point-in-time
Reverse repurchase agreements	`SecuritiesPurchasedUnderAgreementsToResell`	$81.46M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Receivable for securities sold	`Receivableforsecuritiessold`	$73.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.34M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.83M	shares	Point-in-time
Receivable for securities sold	`Receivableforsecuritiessold`	$21.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.13M	shares	Point-in-time
Interest receivable	`InterestReceivable`	$5.78M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$5.64M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.83M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.34M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.13M	shares	Point-in-time
Other assets	`OtherAssets`	$523.00K	USD	Point-in-time
Other assets	`OtherAssets`	$575.00K	USD	Point-in-time
Total Assets	`Assets`	$1.89B	USD	Point-in-time
Total Assets	`Assets`	$1.85B	USD	Point-in-time
Repurchase agreements	`SecuritiesSoldUnderAgreementsToRepurchase`	$1.60B	USD	Point-in-time
Repurchase agreements	`SecuritiesSoldUnderAgreementsToRepurchase`	$1.59B	USD	Point-in-time
Payable for securities purchased	`PayablesToBrokerDealersAndClearingOrganizations`	$17.61M	USD	Point-in-time
Payable for securities purchased	`PayablesToBrokerDealersAndClearingOrganizations`	$3.83M	USD	Point-in-time
Due to brokers	`Duetobrokers`	$489.00K	USD	Point-in-time
Due to brokers	`Duetobrokers`	$1.02M	USD	Point-in-time
Financial derivativesliabilities, at fair value	`DerivativeLiabilities`	$1.86M	USD	Point-in-time
Financial derivativesliabilities, at fair value	`DerivativeLiabilities`	$5.88M	USD	Point-in-time
U.S. Treasury securities sold short, at fair value	`FinancialInstrumentsSoldNotYetPurchasedUSGovernmentAndAgencyObligations`	$44.38M	USD	Point-in-time
U.S. Treasury securities sold short, at fair value	`FinancialInstrumentsSoldNotYetPurchasedUSGovernmentAndAgencyObligations`	$81.29M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$3.65M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$4.75M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$4.94M	USD	Point-in-time
Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$911.00K	USD	Point-in-time
Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$728.00K	USD	Point-in-time
Management fee payable to affiliate	`ManagementFeePayable`	$725.00K	USD	Point-in-time
Management fee payable to affiliate	`ManagementFeePayable`	$671.00K	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$3.32M	USD	Point-in-time
Interest payable	`InterestPayableCurrentAndNoncurrent`	$3.69M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.67B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.69B	USD	Point-in-time
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, par value $0.01 per share, 100,000,000 shares authorized; (0 shares issued and outstanding, respectively)	`PreferredStockValue`	-	USD	Point-in-time
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (12,827,850 and 13,340,217 shares issued and outstanding, respectively)	`CommonStockValue`	$128.00K	USD	Point-in-time
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (12,827,850 and 13,340,217 shares issued and outstanding, respectively)	`CommonStockValue`	$134.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$234.38M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$240.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.19M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$178.31M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$140.12M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$141.68M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$192.70M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.89B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.85B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InterestIncomeOperating`	$13.43M	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$12.33M	USD	1 Quarter
Interest expense	`Interestexpensegross`	$3.18M	USD	1 Quarter
Interest expense	`Interestexpensegross`	$7.25M	USD	1 Quarter
Total net interest income	`InterestIncomeExpenseNet`	$9.15M	USD	1 Quarter
Total net interest income	`InterestIncomeExpenseNet`	$6.18M	USD	1 Quarter
Management fees to affiliate	`ManagementFeeExpense`	$527.00K	USD	1 Quarter
Management fees to affiliate	`ManagementFeeExpense`	$671.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$234.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$175.00K	USD	1 Quarter
Compensation expense	`SalariesAndWages`	$159.00K	USD	1 Quarter
Compensation expense	`SalariesAndWages`	$189.00K	USD	1 Quarter
Insurance Expense	`GeneralInsuranceExpense`	$82.00K	USD	1 Quarter
Insurance Expense	`GeneralInsuranceExpense`	$74.00K	USD	1 Quarter
Other operating expenses	`OtherExpenses`	$349.00K	USD	1 Quarter
Other operating expenses	`OtherExpenses`	$329.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.52M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.27M	USD	1 Quarter
Net realized gains (losses) on securities	`RealizedInvestmentGainsLosses`	$-2.99M	USD	1 Quarter
Net realized gains (losses) on securities	`RealizedInvestmentGainsLosses`	$1.93M	USD	1 Quarter
Net realized gains (losses) on financial derivatives	`Netrealizedgainslossesonfinancialderivatives`	$15.96M	USD	1 Quarter
Net realized gains (losses) on financial derivatives	`Netrealizedgainslossesonfinancialderivatives`	$1.65M	USD	1 Quarter
Change in net unrealized gains (losses) on securities	`UnrealizedGainLossOnSecurities`	$-27.06M	USD	1 Quarter
Change in net unrealized gains (losses) on securities	`UnrealizedGainLossOnSecurities`	$-2.35M	USD	1 Quarter
Change in net unrealized gains (losses) on financial derivatives	`UnrealizedGainLossOnDerivatives`	$-2.14M	USD	1 Quarter
Change in net unrealized gains (losses) on financial derivatives	`UnrealizedGainLossOnDerivatives`	$565.00K	USD	1 Quarter
Total other income (loss)	`NetRealizedandUnrealizedGainLossOnInvestmentsandFinancialDerivatives`	$-8.61M	USD	1 Quarter
Total other income (loss)	`NetRealizedandUnrealizedGainLossOnInvestmentsandFinancialDerivatives`	$-5.83M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$2.05M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-3.95M	USD	1 Quarter
Basic and Diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.30	USD	1 Quarter
Basic and Diluted (in dollars per share)	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Dividends declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.37	USD	1 Quarter
Dividends declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.40	USD	1 Quarter

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.95M	USD	1 Quarter
Net realized (gains) losses on securities	`RealizedInvestmentGainsLosses`	$-2.99M	USD	1 Quarter
Net realized (gains) losses on securities	`RealizedInvestmentGainsLosses`	$1.93M	USD	1 Quarter
Change in net unrealized (gains) losses on securities	`UnrealizedGainLossOnSecurities`	$-27.06M	USD	1 Quarter
Change in net unrealized (gains) losses on securities	`UnrealizedGainLossOnSecurities`	$-2.35M	USD	1 Quarter
Net realized (gains) losses on financial derivatives	`Netrealizedgainslossesonfinancialderivatives`	$15.96M	USD	1 Quarter
Net realized (gains) losses on financial derivatives	`Netrealizedgainslossesonfinancialderivatives`	$1.65M	USD	1 Quarter
Change in net unrealized (gains) losses on financial derivatives	`UnrealizedGainLossOnDerivatives`	$-2.14M	USD	1 Quarter
Change in net unrealized (gains) losses on financial derivatives	`UnrealizedGainLossOnDerivatives`	$565.00K	USD	1 Quarter
Amortization of premiums and accretion of discounts (net)	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-701.00K	USD	1 Quarter
Amortization of premiums and accretion of discounts (net)	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-4.22M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$48.00K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$49.00K	USD	1 Quarter
Due from brokers	`Increasedecreaseinduefrombrokers`	$-5.31M	USD	1 Quarter
Due from brokers	`Increasedecreaseinduefrombrokers`	$22.31M	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$139.00K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-333.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$81.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$52.00K	USD	1 Quarter
Due to brokers	`Increasedecreaseinduetobrokers`	$-24.00K	USD	1 Quarter
Due to brokers	`Increasedecreaseinduetobrokers`	$536.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$183.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$61.00K	USD	1 Quarter
Interest payable	`Increasedecreaseininterestpayable`	$367.00K	USD	1 Quarter
Interest payable	`Increasedecreaseininterestpayable`	$-80.00K	USD	1 Quarter
Management fees payable to affiliate	`IncreaseDecreaseInManagementFeePayable`	$-54.00K	USD	1 Quarter
Management fees payable to affiliate	`IncreaseDecreaseInManagementFeePayable`	$-5.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.84M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.64M	USD	1 Quarter
Purchases of securities	`PaymentsToAcquireInvestments`	$315.42M	USD	1 Quarter
Purchases of securities	`PaymentsToAcquireInvestments`	$271.59M	USD	1 Quarter
Proceeds from sale of securities	`ProceedsFromSaleOfOtherInvestments`	$214.25M	USD	1 Quarter
Proceeds from sale of securities	`ProceedsFromSaleOfOtherInvestments`	$273.39M	USD	1 Quarter
Principal repayments of mortgage-backed securities	`PrincipalRepaymentsOfSecurities`	$37.72M	USD	1 Quarter
Principal repayments of mortgage-backed securities	`PrincipalRepaymentsOfSecurities`	$41.25M	USD	1 Quarter
Proceeds from investments sold short	`InvestmentSoldNotYetPurchasedSaleProceeds`	$443.96M	USD	1 Quarter
Proceeds from investments sold short	`InvestmentSoldNotYetPurchasedSaleProceeds`	$225.74M	USD	1 Quarter
Repurchase of investments sold short	`Repurchaseofinvestmentssoldshort`	$476.89M	USD	1 Quarter
Repurchase of investments sold short	`Repurchaseofinvestmentssoldshort`	$221.26M	USD	1 Quarter
Proceeds from disposition of financial derivatives	`ProceedsFromDerivativeInstrumentInvestingActivities`	$18.94M	USD	1 Quarter
Proceeds from disposition of financial derivatives	`ProceedsFromDerivativeInstrumentInvestingActivities`	$4.36M	USD	1 Quarter
Purchase of financial derivatives	`PaymentsForDerivativeInstrumentInvestingActivities`	$2.71M	USD	1 Quarter
Purchase of financial derivatives	`PaymentsForDerivativeInstrumentInvestingActivities`	$3.14M	USD	1 Quarter
Payments made on reverse repurchase agreements	`PaymentsForSecuritiesPurchasedUnderAgreementsToResell`	$4.35B	USD	1 Quarter
Payments made on reverse repurchase agreements	`PaymentsForSecuritiesPurchasedUnderAgreementsToResell`	$7.68B	USD	1 Quarter
Proceeds from reverse repurchase agreements	`ProceedsFromSecuritiesPurchasedUnderAgreementsToResell`	$7.72B	USD	1 Quarter
Proceeds from reverse repurchase agreements	`ProceedsFromSecuritiesPurchasedUnderAgreementsToResell`	$4.35B	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.63M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.29M	USD	1 Quarter
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$5.74M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$3.65M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$4.94M	USD	1 Quarter
Borrowings under repurchase agreements	`Borrowingsunderrepurchaseagreements`	$268.45M	USD	1 Quarter
Borrowings under repurchase agreements	`Borrowingsunderrepurchaseagreements`	$390.53M	USD	1 Quarter
Repayments of repurchase agreements	`Repaymentsofrepurchaseagreements`	$276.34M	USD	1 Quarter
Repayments of repurchase agreements	`Repaymentsofrepurchaseagreements`	$410.22M	USD	1 Quarter
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.34M	USD	1 Quarter
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.56M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.00M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.09M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$37.51M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$33.50M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$46.02M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$56.12M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$37.51M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$33.50M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$46.02M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$56.12M	USD	Point-in-time
Interest paid	`InterestPaid`	$6.88M	USD	1 Quarter
Interest paid	`InterestPaid`	$3.26M	USD	1 Quarter
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$3.65M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$4.75M	USD	Point-in-time
Dividend payable	`DividendsPayableCurrentAndNoncurrent`	$4.94M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$178.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$140.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.70M	USD	Point-in-time
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$49.00K	USD	1 Quarter
Share based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$48.00K	USD	1 Quarter
Repurchase of common shares, shares	`StockRepurchasedAndRetiredDuringPeriodShares`	0.00	shares	1 Quarter
Repurchase of common shares, shares	`StockRepurchasedAndRetiredDuringPeriodShares`	512,367.00	shares	1 Quarter
Repurchase of common shares, Value	`StockRepurchasedAndRetiredDuringPeriodValue`	$5.74M	USD	1 Quarter
Dividends declared	`Dividends`	$3.65M	USD	1 Quarter
Dividends declared	`Dividends`	$4.75M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.95M	USD	1 Quarter
Balance	`StockholdersEquity`	$178.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$140.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$141.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$192.70M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.