Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v2.4.0.6
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2010
Dec. 31, 2011
Restated
Interest income $ 310,459 $ 300,272 $ 292,296
Interest expense 109,924 172,219 138,035
Net interest income 200,535 128,053 154,261
Valuation allowance (reversal) on loans (24,587) (339,887) (15,163)
Other-than-temporary impairment on securities 19,359 101,398 12,955
Impairment of long-lived assets       433
Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss) (436) (2,369) 2,885
[ImpairmentNetOfTheReversalOfPriorValuationAllowancesOnLoans] (5,664) (240,858) 1,110
Net interest income (loss) after impairment/reversal 206,199 368,911 153,151
Other Revenues      
Rental income 17,081 1,708 1,899
Care and ancillary income 2,994      
Total other revenues 20,075 1,708 1,899
Other Income (Loss)      
Gain (loss) on settlement of investments, net 232,897 52,307 78,181
Gain on extinguishment of debt 24,085 265,656 66,110
Change in fair value of investments in excess mortgage servicing rights 9,023    367
Other income (loss), net 13,712 (35,676) 36,204
[NonoperatingGainsLosses] 279,717 282,287 180,862
Expenses      
Loan and security servicing expense 4,260 4,580 4,649
Property operating expenses 12,943 1,283 1,110
General and administrative expense 22,942 7,707 7,322
Management fee to affiliate 24,693 17,252 18,289
Depreciation and amortization 6,975 79 12
Total Expenses 71,813 30,901 31,382
Income (loss) from continuing operations 434,178 622,005 304,530
Income (loss) from discontinued operations (68) (343) (11)
Net Income (Loss) 434,110 621,662 304,519
Preferred dividends (5,580) (7,453) (5,580)
Excess of carrying amount of exchanged preferred stock over fair value of consideration paid    43,043   
Income (Loss) Applicable to Common Stockholders $ 428,530 $ 657,252 $ 298,939
Basic $ 2.97 $ 10.96 $ 3.65
Diluted $ 2.94 $ 10.96 $ 3.65
Income (Loss) from continuing operations per share of common stock, after preferred dividends and excess of carrying amount of exchanged preferred stock over fair value of consideration paid      
Basic $ 2.97 $ 10.97 $ 3.65
Diluted $ 2.94 $ 10.97 $ 3.65
Income (loss) from discontinued operations per share of common stock      
Basic    $ (0.01)   
Diluted    $ (0.01)   
Weighted Average Number of Shares of Common Stock Outstanding      
Basic 144,146,370 59,948,827 81,983,973
Diluted 145,766,413 59,948,827 81,990,297
Dividends Declared per Share of Common Stock $ 0.84    $ 0.40