Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income	$ 146,546	$ 74,170
Adjustments to reconcile net income to cash provided by operating activities:
Realized loss (gain) on sale of investments, net	18,550	(6,705)
Unrealized loss (gain) on investments, net	176,354	(104)
Gain on derivative instruments, net	(326,623)	(54,861)
Amortization of investment premiums, net	51,988	60,123
Other amortization and depreciation, net	1,135	1,106
Share-based compensation expense	1,873	995
Decrease in accrued interest receivable	1,087	332
Increase (decrease) in accrued interest payable	446	(1,005)
Change in other assets and liabilities, net	(614)	(6,197)
Net cash provided by operating activities	70,742	67,854
Investing activities:
Purchase of investments	(372,815)	(1,052,490)
Principal payments received on investments	168,321	223,706
Proceeds from sales of investments	327,700	474,657
Principal payments received on mortgage loans held for investment	828	1,171
Net receipts on derivatives, including terminations	334,910	425,889
Increase in cash collateral posted by counterparties	57,400	1,645
Net cash provided by investing activities	516,344	74,578
Financing activities:
Borrowings under repurchase agreements	7,039,210	11,010,378
Repayments of repurchase agreement borrowings	(7,686,478)	(10,920,476)
Principal payments on non-recourse collateralized financing	0	(118)
Proceeds from issuance of common stock	109,444	224,350
Cash paid for redemption of preferred stock	0	(69,708)
Cash paid for stock issuance costs	0	(330)
Payments related to tax withholding for share-based compensation	(725)	(853)
Dividends paid	(32,716)	(42,798)
Net cash (used in) provided by financing activities	(571,265)	200,445
Net increase in cash including cash posted to counterparties	15,821	342,877
Cash including cash posted to counterparties at beginning of period	421,307	310,360
Cash including cash posted to counterparties at end of period	437,128	653,237
Supplemental Disclosure of Cash Activity:
Cash paid for interest	$ 5,564	$ 3,906