Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2012

Accumulated Other Comprehensive Income

11. Accumulated Other Comprehensive Income

Accumulated other comprehensive income consists of the following components:

	June 30, 2012			December 31, 2011
Unrealized gain on securities, net	$	456,333		$	385,101
Unrealized gain on unsettled securities		1,328			631
Unrealized loss on short term investment*		(144	)		(287	)
Unrealized loss on derivative instruments		(243,857	)		(212,123	)
Accumulated other comprehensive income	$	213,660		$	173,322

* 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 June 30, 2012 and December 31, 2011 was approximately $14,710 and $20,576, respectively.