Income Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles our GAAP net income (loss) to estimated REIT taxable loss for the three months ended March 31, 2022 and March 31, 2021.

	For the Three Months Ended March 31,
	2022		2021
GAAP net income (loss)	$	(66,434)	$	71,327
Book to tax differences:
TRS income	(1)		(7)
Premium amortization expense	(41)		(48)
Agency Securities, trading	254,389		62,586
U.S. Treasury Securities	78,387		28
Changes in interest rate contracts	(250,900)		(122,195)
Gain on Security Sales	—		(7,354)
Amortization of deferred hedging costs	(39,581)		(41,867)
Other	550		417
Estimated REIT taxable loss	$	(23,631)	$	(37,113)

Summary of Tax Credit Carryforwards

Net capital losses realized	Amount		Available to offset capital gains through
2018	$	(136,388)	2023
2019	$	(13,819)	2024
2021	$	(15,605)	2026