Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2019

Offsetting Assets and Liabilities

Schedule of effect of offsetting recognized assets

The following table provides disclosure regarding the effect of offsetting of the Company’s recognized assets presented in the unaudited interim consolidated balance sheet as of September 30, 2019:

			Gross		Assets
			Amounts		Presented in		Gross Amounts Not Offset in the Consolidated
	Gross		Offset in the		the		Balance Sheets (1)
	Amounts of		Consolidated		Consolidated				Cash
	Recognized		Balance		Balance		Financial		Collateral
(In Thousands)	Assets		Sheets		Sheets		Instruments		Received		Net Amount
Interest rate swaps		4,181		—		4,181		—		4,181		—
Credit default swaps	$	—	$	—	$	—	$	—	$	—	$	—
Total	$	4,181	$	—	$	4,181	$	—	$	4,181	$	—

The following table provides disclosure regarding the effect of offsetting of the Company’s recognized assets presented in the unaudited interim consolidated balance sheet as of December 31, 2018:

			Gross		Assets
			Amounts		Presented in		Gross Amounts Not Offset in the Consolidated
	Gross		Offset in the		the		Balance Sheets (1)
	Amounts of		Consolidated		Consolidated				Cash
	Recognized		Balance		Balance		Financial		Collateral
(In Thousands)	Assets		Sheets		Sheets		Instruments		Received		Net Amount
Credit default swaps	$	295	$	—	$	295	$	—	$	295	$	—
Total	$	295	$	—	$	295	$	—	$	295	$	—

(1) Amounts presented in these columns are limited in total to the net amount of assets or liabilities presented in the prior column by instrument. In certain cases, there is excess cash collateral or financial assets we have pledged to a counterparty that exceed the financial liabilities subject to a master netting repurchase arrangement or similar agreement. Additionally, in certain cases, counterparties may have pledged excess cash collateral to us that exceeds our corresponding financial assets. In each case, any of these excess amounts are excluded from the table although they are separately reported in our consolidated balance sheets as assets or liabilities, respectively.

Schedule of effect of offsetting recognized liabilities

The following table provides disclosure regarding the effect of offsetting of the Company’s recognized liabilities presented in the unaudited interim consolidated balance sheet as of September 30, 2019:

			Gross		Liabilities
			Amounts		Presented in		Gross Amounts Not Offset in the Consolidated
	Gross		Offset in the		the		Balance Sheets (1)
	Amounts of		Consolidated		Consolidated				Cash
	Recognized		Balance		Balance		Financial		Collateral
(In Thousands)	Liabilities		Sheets		Sheets		Instruments		Paid		Net Amount
Interest rate swaps	$	11,849	$	—	$	11,849	$	—	$	11,849	$	—
Credit default swaps		57		—		57		—		57		—
Secured borrowings		1,315,534		—		1,315,534		1,315,534		—		—
Total	$	1,327,440	$	—	$	1,327,440	$	1,315,534	$	11,906	$	—

The following table provides disclosure regarding the effect of offsetting of the Company’s recognized liabilities presented in the unaudited interim consolidated balance sheet as of December 31, 2018:

					Liabilities
			Gross		Presented in		Gross Amounts Not Offset in the Consolidated
	Gross		Amounts		the		Balance Sheets  (1)
	Amounts of		Offset in the		Consolidated				Cash
	Recognized		Consolidated		Balance		Financial		Collateral
(In Thousands)	Liabilities		Balance Sheets		Sheets		Instruments		Paid		Net Amount
Interest rate swaps	$	3,625	$	—	$	3,625	$	—	$	3,625	$	—
Secured borrowings		834,547		—		834,547		834,547		—		—
Total	$	838,172	$	—	$	838,172	$	834,547	$	3,625	$	—

(1) Amounts presented in these columns are limited in total to the net amount of assets or liabilities presented in the prior column by instrument. In certain cases, there is excess cash collateral or financial assets we have pledged to a counterparty that exceed the financial liabilities subject to a master netting repurchase arrangement or similar agreement. Additionally, in certain cases, counterparties may have pledged excess cash collateral to us that exceeds our corresponding financial assets. In each case, any of these excess amounts are excluded from the table although they are separately reported in our consolidated balance sheets as assets or liabilities, respectively.