CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Net interest income:
Interest income	[1]	$ 202,175	$ 243,127
Interest expense		64,473	108,066	[2]
Net interest income		137,702	135,061
Increase/(decrease) in provision for credit losses		240	(126)
Other investment gains (losses):
Net unrealized gains (losses) on financial instruments at fair value		(370,167)	270,012
Net realized gains (losses) on sales of investments		0	37,796
Gains (losses) on extinguishment of debt		0	(237,137)
Total other gains (losses)		(370,167)	70,671
Other expenses:
Compensation and benefits		11,353	13,439
General and administrative expenses		5,711	5,198
Servicing and asset manager fees		9,291	9,281
Transaction expenses		3,804	16,437
Total other expenses		30,159	44,355
Income (loss) before income taxes		(262,864)	161,503
Income tax expense (benefit)		(70)	3,912
Net income (loss)		(262,794)	157,591
Dividends on preferred stock		18,408	18,438
Net income (loss) available to common shareholders		$ (281,202)	$ 139,153
Net income (loss) per share available to common shareholders:
Basic (usd per share)		$ (1.19)	$ 0.60
Diluted (usd per share)		$ (1.19)	$ 0.54
Weighted average number of common shares outstanding:
Basic (shares)		237,012,702	230,567,231
Diluted (shares)		237,012,702	261,435,081

[1] Includes interest income of consolidated VIEs of $131,066 and $158,100 for the quarters ended March 31, 2022 and 2021, respectively. See Note 9 to consolidated financial statements for further discussion.

[2] Includes interest expense of consolidated VIEs of $42,491 and $65,205 for the quarters ended March 31, 2022 and 2021, respectively. See Note 9 to consolidated financial statements for further discussion.