景顺抵押资本 2025年季度报告

For the quarterly period endedMarch 31, 2025 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒As of April30, 2025, there were65,942,495outstanding shares of common stock of Invesco Mortgage Capital Inc. PARTI FINANCIAL INFORMATIONFinancial Statements Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and Invesco Mortgage Capital Inc. (the “Company” or “we”) is a Maryland corporation primarily focused on investing in, financing •residential mortgage-backed securities (“RMBS”) that are guaranteed by a U.S. government agency such as the Government National Mortgage Association (“Ginnie Mae”), or a federally chartered corporation such as the Federal National MortgageAssociation (“Fannie Mae”) or the Federal Home Loan Mortgage Corporation (“Freddie Mac”) (collectively “Agency •commercial mortgage-backed securities (“CMBS”) that are guaranteed by a U.S. government agency such as Ginnie Mae or afederally chartered corporation such as Fannie Mae or Freddie Mac (collectively “Agency CMBS”); and •RMBS that are not guaranteed by a U.S. government agency or a federally chartered corporation (“non-Agency RMBS”). During the periods presented in these condensed consolidated financial statements, we also invested in CMBS that are notguaranteed by a U.S. government agency or a federally chartered corporation (“non-Agency CMBS”), U.S. Treasury securities and a real estate-related financing arrangement in the form of an unconsolidated venture.We conduct our business through IAS Operating Partnership L.P. (the “Operating Partnership”) and haveoneoperating segment.Refer to Note 13 - “Segment Information” of our consolidated financial statements included in our Annual Report on Form 10-K for We are externally managed and advised by Invesco Advisers, Inc. (our “Manager”), a registered investment adviser and anindirect, wholly-owned subsidiary of Invesco Ltd. (“Invesco”), a leading independent global investment management firm. We elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes under the provisions ofthe Internal Revenue Code of 1986. To maintain our REIT qualification, we are generally required to distribute at least90% of our “Investment Company” definition under the Investment Company Act of 1940, as amended (the “1940 Act”).Note 2 –Summary of Significant Accounting Policies Basis of Presentation and ConsolidationCertain disclosures included in our Annual Report on Form 10-K are not required to be included on an interim basis in our Our condensed consolidated financial statements have been prepared in accordance with generally accepted accountingprinciples in the United States of America (“U.S. GAAP”) and consolidate the financial statements of the Company and its controlled subsidiaries. All significant intercompany transactions, balances, revenues and expenses are eliminated upon consolidation. Certainreclassifications have been made to prior period amounts to conform to the current period presentation.In the opinion of management, the condensed consolidated financial statements reflect all adjustments, consisting of normalrecurring accruals, which are necessary for a fair statement of our financial condition and results of operations for the periods Use of EstimatesThe preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanyingnotes. Examples of estimates include, but are not limited to, estimates of the fair values of financial instruments, interest income on mortgage-backed securities and allowances for credit losses. Actual results may differ from those estimates. There have been no changes to our accounting policies included in Note 2 to the consolidated financial statements of our AnnualReport on Form 10-K for the year ended December31, 2024. The following tables summarize our MBS portfolio by asset type as of March31, 2025 and December31, 2024.As of March 31, 2025 $ in thousandsBalance(Discount)Cost(Loss), netValueAgency RMBS:30 year fixed-rate pass-through4,953,499(42,568)4,910,93163,7324,974,663Agency-CMO518,532(452,800)65,7327,80773,539(2) (1)Period-end weighted average yield is based on amortized cost as of March31, 2025 and incorporates future prepayment and loss investments are based upon changes in the underlying hybrid adjustable-rate mortgage (“ARM”) loan coupons, while coupon payments onfloating rate investments are based upon a spread to a reference index. (5)Non-Agency RMBS includes inte