Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2011

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

13. Accumulated Other Comprehensive Income

Accumulated other comprehensive income consists of the following components:

	December 31, 2011			December 31, 2010
Unrealized gain on agency securities, net	$	385,101		$	162,312
Unrealized gain (loss) on unsettled securities		631			(64	)
Unrealized loss on short term investment*		(287	)		(136	)
Unrealized loss on derivative instruments		(212,123	)		(56,221	)
Accumulated other comprehensive income		173,322			105,891

* This line item is included in other assets on the balance sheet.

The Company records unrealized gains and losses on its MBS and swap positions as is described in Notes 4 and 7, respectively. Reclassification adjustment for realized gains and losses on the sale of securities included in unrealized gains and losses on available-for-sale securities at December 30, 2011 and 2010 was approximately $20,576 and $13,551, respectively.

Comprehensive income for the years ended December 31, 2011, 2010, and 2009 consists of the following components:

	For the year ended
	December 31, 2011			December 31, 2010			December 31, 2009
Net Income	$	284,373		$	169,500		$	174,400
Unrealized gain (loss) on agency securities		223,483			(26,217	)		156,090
Unrealized loss on short term investment		(150	)		(136	)		—
Unrealized gain (loss) on derivative instruments		(155,902	)		(20,479	)		26,754
Comprehensive income	$	351,804		$	122,668		$	357,244