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10-Q Filing

ELLINGTON CREDIT CO CIK: 1560672 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001560672-22-000030
Period End Date 20220331
Filing Date 20220513
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance earn-20220331_htm.xml
Filing Contents
Balance Sheet 75 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
Preferred stock, shares authorized PreferredStockSharesAuthorized 100.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $16.21M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.17M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $52.50M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 100.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $69.03M USD Point-in-time
Mortgage-backed securities, at fair value(1) FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue $1.31B USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Mortgage-backed securities, at fair value(1) FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue $1.09B USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Other investments, at fair value FinancialInstrumentsOwnedOtherAtFairValue $21.28M USD Point-in-time
Other investments, at fair value FinancialInstrumentsOwnedOtherAtFairValue $309.00K USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Due from brokers DuefromBrokers $88.66M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Due from brokers DuefromBrokers $88.44M 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
Financial derivativesassets, at fair value DerivativeAssets $36.57M USD Point-in-time
Financial derivativesassets, at fair value DerivativeAssets $6.64M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 500.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 13.11M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 13.11M shares Point-in-time
Reverse repurchase agreements SecuritiesPurchasedUnderAgreementsToResell $117.50M USD Point-in-time
Reverse repurchase agreements SecuritiesPurchasedUnderAgreementsToResell $27.35M USD Point-in-time
Receivable for securities sold Receivableforsecuritiessold - USD Point-in-time
Receivable for securities sold Receivableforsecuritiessold $218.81M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 12.34M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 13.11M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 13.11M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 12.34M shares Point-in-time
Interest receivable InterestReceivable $3.53M USD Point-in-time
Interest receivable InterestReceivable $4.50M USD Point-in-time
Other assets OtherAssets $782.00K USD Point-in-time
Other assets OtherAssets $459.00K USD Point-in-time
Total Assets Assets $1.60B USD Point-in-time
Total Assets Assets $1.51B USD Point-in-time
Repurchase agreements SecuritiesSoldUnderAgreementsToRepurchase $1.21B USD Point-in-time
Repurchase agreements SecuritiesSoldUnderAgreementsToRepurchase $1.06B USD Point-in-time
Payable for securities purchased PayablesToBrokerDealersAndClearingOrganizations $119.79M USD Point-in-time
Payable for securities purchased PayablesToBrokerDealersAndClearingOrganizations $255.14M USD Point-in-time
Due to brokers Duetobrokers $23.05M USD Point-in-time
Due to brokers Duetobrokers $1.96M USD Point-in-time
Financial derivativesliabilities, at fair value DerivativeLiabilities $3.28M USD Point-in-time
Financial derivativesliabilities, at fair value DerivativeLiabilities $1.10M USD Point-in-time
U.S. Treasury securities sold short, at fair value FinancialInstrumentsSoldNotYetPurchasedUSGovernmentAndAgencyObligations $13.46M USD Point-in-time
U.S. Treasury securities sold short, at fair value FinancialInstrumentsSoldNotYetPurchasedUSGovernmentAndAgencyObligations $117.19M USD Point-in-time
Dividend payable DividendsPayableCurrentAndNoncurrent $3.46M USD Point-in-time
Dividend payable DividendsPayableCurrentAndNoncurrent $1.31M USD Point-in-time
Dividend payable DividendsPayableCurrentAndNoncurrent $1.31M USD Point-in-time
Accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $976.00K USD Point-in-time
Accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $1.24M USD Point-in-time
Management fee payable to affiliate ManagementFeePayable $581.00K USD Point-in-time
Management fee payable to affiliate ManagementFeePayable $500.00K USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $712.00K USD Point-in-time
Interest payable InterestPayableCurrentAndNoncurrent $885.00K USD Point-in-time
Total Liabilities Liabilities $1.44B USD Point-in-time
Total Liabilities Liabilities $1.37B 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; (13,109,926 and 13,109,926 shares issued and outstanding, respectively) CommonStockValue $131.00K USD Point-in-time
Common shares, par value $0.01 per share, 500,000,000 shares authorized; (13,109,926 and 13,109,926 shares issued and outstanding, respectively) CommonStockValue $131.00K USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapital $238.94M USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapital $238.87M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-84.77M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-106.17M USD Point-in-time
Total Shareholders' Equity StockholdersEquity $132.90M USD Point-in-time
Total Shareholders' Equity StockholdersEquity $166.40M USD Point-in-time
Total Shareholders' Equity StockholdersEquity $154.22M USD Point-in-time
Total Shareholders' Equity StockholdersEquity $163.14M USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $1.51B USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $1.60B USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Interest income InterestIncomeOperating $6.54M USD 1 Quarter
Interest income InterestIncomeOperating $6.54M USD 1 Quarter
Interest expense Interestexpensegross $1.10M USD 1 Quarter
Interest expense Interestexpensegross $781.00K USD 1 Quarter
Total net interest income InterestIncomeExpenseNet $5.43M USD 1 Quarter
Total net interest income InterestIncomeExpenseNet $5.75M USD 1 Quarter
Management fees to affiliate ManagementFeeExpense $614.00K USD 1 Quarter
Management fees to affiliate ManagementFeeExpense $500.00K USD 1 Quarter
Professional fees ProfessionalFees $271.00K USD 1 Quarter
Professional fees ProfessionalFees $206.00K USD 1 Quarter
Compensation expense SalariesAndWages $162.00K USD 1 Quarter
Compensation expense SalariesAndWages $177.00K USD 1 Quarter
Insurance expense GeneralInsuranceExpense $98.00K USD 1 Quarter
Insurance expense GeneralInsuranceExpense $86.00K USD 1 Quarter
Other operating expenses OtherExpenses $317.00K USD 1 Quarter
Other operating expenses OtherExpenses $355.00K USD 1 Quarter
Total expenses OperatingExpenses $1.32M USD 1 Quarter
Total expenses OperatingExpenses $1.47M USD 1 Quarter
Net realized gains (losses) on securities RealizedInvestmentGainsLosses $-14.17M USD 1 Quarter
Net realized gains (losses) on securities RealizedInvestmentGainsLosses $3.08M USD 1 Quarter
Net realized gains (losses) on financial derivatives Netrealizedgainslossesonfinancialderivatives $-5.15M USD 1 Quarter
Net realized gains (losses) on financial derivatives Netrealizedgainslossesonfinancialderivatives $15.35M USD 1 Quarter
Change in net unrealized gains (losses) on securities UnrealizedGainLossOnSecurities $-10.31M USD 1 Quarter
Change in net unrealized gains (losses) on securities UnrealizedGainLossOnSecurities $-50.52M USD 1 Quarter
Change in net unrealized gains (losses) on financial derivatives UnrealizedGainLossOnDerivatives $27.75M USD 1 Quarter
Change in net unrealized gains (losses) on financial derivatives UnrealizedGainLossOnDerivatives $8.21M USD 1 Quarter
Total other income (loss) NetRealizedandUnrealizedGainLossOnInvestmentsandFinancialDerivatives $-21.58M USD 1 Quarter
Total other income (loss) NetRealizedandUnrealizedGainLossOnInvestmentsandFinancialDerivatives $-4.16M USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $-17.47M USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $127.00K USD 1 Quarter
Basic and Diluted (in dollars per share) EarningsPerShareBasic $0.01 USD 1 Quarter
Basic and Diluted (in dollars per share) EarningsPerShareBasic $-1.33 USD 1 Quarter
Cash Flow Statement 79 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-17.47M USD 1 Quarter
Net income (loss) NetIncomeLoss $127.00K USD 1 Quarter
Net realized (gains) losses on securities RealizedInvestmentGainsLosses $-14.17M USD 1 Quarter
Net realized (gains) losses on securities RealizedInvestmentGainsLosses $3.08M USD 1 Quarter
Change in net unrealized (gains) losses on securities UnrealizedGainLossOnSecurities $-10.31M USD 1 Quarter
Change in net unrealized (gains) losses on securities UnrealizedGainLossOnSecurities $-50.52M USD 1 Quarter
Net realized (gains) losses on financial derivatives Netrealizedgainslossesonfinancialderivatives $-5.15M USD 1 Quarter
Net realized (gains) losses on financial derivatives Netrealizedgainslossesonfinancialderivatives $15.35M USD 1 Quarter
Change in net unrealized (gains) losses on financial derivatives UnrealizedGainLossOnDerivatives $27.75M USD 1 Quarter
Change in net unrealized (gains) losses on financial derivatives UnrealizedGainLossOnDerivatives $8.21M USD 1 Quarter
Amortization of premiums and accretion of discounts, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $-2.54M USD 1 Quarter
Amortization of premiums and accretion of discounts, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $-2.62M USD 1 Quarter
Share based compensation ShareBasedCompensation $76.00K USD 1 Quarter
Share based compensation ShareBasedCompensation $66.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $18.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $-974.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $311.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $323.00K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-107.00K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-227.00K USD 1 Quarter
Interest payable Increasedecreaseininterestpayable $143.00K USD 1 Quarter
Interest payable Increasedecreaseininterestpayable $-173.00K USD 1 Quarter
Management fees payable to affiliate IncreaseDecreaseInManagementFeePayable $-12.00K USD 1 Quarter
Management fees payable to affiliate IncreaseDecreaseInManagementFeePayable $-81.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $6.67M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $6.89M USD 1 Quarter
Purchases of securities PaymentsToAcquireInvestments $1.10B USD 1 Quarter
Purchases of securities PaymentsToAcquireInvestments $199.73M USD 1 Quarter
Proceeds from sale of securities ProceedsFromSaleOfOtherInvestments $29.98M USD 1 Quarter
Proceeds from sale of securities ProceedsFromSaleOfOtherInvestments $804.47M USD 1 Quarter
Principal repayments of mortgage-backed securities PrincipalRepaymentsOfSecurities $65.97M USD 1 Quarter
Principal repayments of mortgage-backed securities PrincipalRepaymentsOfSecurities $79.11M USD 1 Quarter
Proceeds from investments sold short InvestmentSoldNotYetPurchasedSaleProceeds $190.11M USD 1 Quarter
Proceeds from investments sold short InvestmentSoldNotYetPurchasedSaleProceeds $162.47M USD 1 Quarter
Repurchase of investments sold short Repurchaseofinvestmentssoldshort $88.57M USD 1 Quarter
Repurchase of investments sold short Repurchaseofinvestmentssoldshort $261.32M USD 1 Quarter
Proceeds from disposition of financial derivatives ProceedsFromDerivativeInstrumentInvestingActivities $18.53M USD 1 Quarter
Proceeds from disposition of financial derivatives ProceedsFromDerivativeInstrumentInvestingActivities $5.11M USD 1 Quarter
Purchase of financial derivatives PaymentsForDerivativeInstrumentInvestingActivities $8.25M USD 1 Quarter
Purchase of financial derivatives PaymentsForDerivativeInstrumentInvestingActivities $7.63M USD 1 Quarter
Payments made on reverse repurchase agreements PaymentsForSecuritiesPurchasedUnderAgreementsToResell $2.67B USD 1 Quarter
Payments made on reverse repurchase agreements PaymentsForSecuritiesPurchasedUnderAgreementsToResell $5.22B USD 1 Quarter
Proceeds from reverse repurchase agreements ProceedsFromSecuritiesPurchasedUnderAgreementsToResell $2.57B USD 1 Quarter
Proceeds from reverse repurchase agreements ProceedsFromSecuritiesPurchasedUnderAgreementsToResell $5.31B USD 1 Quarter
Due from brokers, net Duefrombrokersnetinvestingactivities $-7.33M USD 1 Quarter
Due from brokers, net Duefrombrokersnetinvestingactivities $-4.64M USD 1 Quarter
Due to brokers, net Duetobrokersnetinvestingactivities $18.76M USD 1 Quarter
Due to brokers, net Duetobrokersnetinvestingactivities $347.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-201.75M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-86.16M USD 1 Quarter
Offering costs paid PaymentsOfStockIssuanceCosts $70.00K USD 1 Quarter
Offering costs paid PaymentsOfStockIssuanceCosts $33.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $3.93M USD 1 Quarter
Dividends paid PaymentsOfDividends $3.46M USD 1 Quarter
Borrowings under repurchase agreements Borrowingsunderrepurchaseagreements $963.81M USD 1 Quarter
Borrowings under repurchase agreements Borrowingsunderrepurchaseagreements $433.56M USD 1 Quarter
Repayments of repurchase agreements Repaymentsofrepurchaseagreements $817.49M USD 1 Quarter
Repayments of repurchase agreements Repaymentsofrepurchaseagreements $342.08M USD 1 Quarter
Due from brokers, net Duefrombrokersnetfinancingactivities $14.13M USD 1 Quarter
Due from brokers, net Duefrombrokersnetfinancingactivities $251.00K USD 1 Quarter
Due to brokers, net Duetobrokersnetfinancingactivities $-70.00K USD 1 Quarter
Due to brokers, net Duetobrokersnetfinancingactivities - USD 1 Quarter
Cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $142.04M USD 1 Quarter
Cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $73.83M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $-52.82M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $-5.67M USD 1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $16.21M USD Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $58.17M USD Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $52.50M USD Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD CashAndCashEquivalentsAtCarryingValue $69.03M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD CashAndCashEquivalentsAtCarryingValue $16.21M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD CashAndCashEquivalentsAtCarryingValue $58.17M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD CashAndCashEquivalentsAtCarryingValue $52.50M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD CashAndCashEquivalentsAtCarryingValue $69.03M USD Point-in-time
Interest paid InterestPaidNet $1.28M USD 1 Quarter
Interest paid InterestPaidNet $639.00K USD 1 Quarter
Dividend payable DividendsPayableCurrentAndNoncurrent $3.46M USD Point-in-time
Dividend payable DividendsPayableCurrentAndNoncurrent $1.31M USD Point-in-time
Dividend payable DividendsPayableCurrentAndNoncurrent $1.31M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $132.90M USD Point-in-time
Balance StockholdersEquity $166.40M USD Point-in-time
Balance StockholdersEquity $154.22M USD Point-in-time
Balance StockholdersEquity $163.14M USD Point-in-time
Shares Issued, Shares StockIssuedDuringPeriodSharesNewIssues 0.00 shares 1 Quarter
Shares Issued, Shares StockIssuedDuringPeriodSharesNewIssues 0.00 shares 1 Quarter
Share based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $66.00K USD 1 Quarter
Share based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $76.00K USD 1 Quarter
Dividends declared Dividends $3.46M USD 1 Quarter
Dividends declared Dividends $3.93M USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $-17.47M USD 1 Quarter
NET INCOME (LOSS) NetIncomeLoss $127.00K USD 1 Quarter
Balance StockholdersEquity $132.90M USD Point-in-time
Balance StockholdersEquity $166.40M USD Point-in-time
Balance StockholdersEquity $154.22M USD Point-in-time
Balance StockholdersEquity $163.14M USD Point-in-time
Common Stock, Dividends, Per Share, Declared CommonStockDividendsPerShareDeclared $0.28 USD 1 Quarter
Common Stock, Dividends, Per Share, Declared CommonStockDividendsPerShareDeclared $0.30 USD 1 Quarter

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

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