ARMOUR Residential REIT Inc
F:2AR1
Income Statement
Earnings Waterfall
ARMOUR Residential REIT Inc
Income Statement
ARMOUR Residential REIT Inc
| Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue |
0
N/A
|
0
N/A
|
5
N/A
|
0
-98%
|
0
+100%
|
0
+50%
|
1
+67%
|
1
+120%
|
1
-18%
|
1
+22%
|
9
+745%
|
20
+113%
|
17
-14%
|
(11)
N/A
|
12
N/A
|
78
+539%
|
84
+8%
|
193
+131%
|
309
+60%
|
368
+19%
|
879
+139%
|
595
-32%
|
336
-43%
|
204
-39%
|
(351)
N/A
|
(71)
+80%
|
(76)
-8%
|
(183)
-140%
|
79
N/A
|
(197)
N/A
|
65
N/A
|
(84)
N/A
|
(262)
-213%
|
81
N/A
|
65
-20%
|
395
+507%
|
422
+7%
|
341
-19%
|
325
-5%
|
344
+6%
|
333
-3%
|
367
+10%
|
97
-73%
|
(45)
N/A
|
(189)
-321%
|
(257)
-36%
|
77
N/A
|
(223)
N/A
|
(73)
+67%
|
(34)
+53%
|
(119)
-251%
|
307
N/A
|
183
-40%
|
159
-13%
|
57
-64%
|
(79)
N/A
|
(57)
+29%
|
(187)
-231%
|
(67)
+64%
|
73
N/A
|
292
+302%
|
360
+23%
|
501
+39%
|
588
+17%
|
490
-17%
|
710
+45%
|
563
-21%
|
569
+1%
|
570
+0%
|
713
+25%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(1)
|
(1)
|
(3)
|
(5)
|
(8)
|
(12)
|
(18)
|
(26)
|
(42)
|
(61)
|
(80)
|
(92)
|
(91)
|
(85)
|
(74)
|
(69)
|
(67)
|
(65)
|
(65)
|
(59)
|
(59)
|
(59)
|
(64)
|
(69)
|
(71)
|
(73)
|
(72)
|
(74)
|
(84)
|
(95)
|
(108)
|
(124)
|
(137)
|
(154)
|
(183)
|
(235)
|
(275)
|
(288)
|
(279)
|
(194)
|
(114)
|
(54)
|
(3)
|
0
|
1
|
(30)
|
1
|
(10)
|
(53)
|
(147)
|
(235)
|
(361)
|
(477)
|
(557)
|
(588)
|
(582)
|
(558)
|
(557)
|
(559)
|
(585)
|
(633)
|
|
| Gross Profit |
0
N/A
|
0
N/A
|
5
N/A
|
0
-98%
|
0
N/A
|
0
N/A
|
1
+150%
|
1
+80%
|
1
-22%
|
1
-29%
|
8
+1 520%
|
18
+116%
|
13
-28%
|
(19)
N/A
|
0
N/A
|
60
+20 033%
|
58
-5%
|
151
+163%
|
248
+64%
|
289
+16%
|
786
+173%
|
504
-36%
|
252
-50%
|
130
-48%
|
(421)
N/A
|
(137)
+67%
|
(142)
-3%
|
(248)
-75%
|
20
N/A
|
(255)
N/A
|
6
N/A
|
(148)
N/A
|
(330)
-124%
|
10
N/A
|
(8)
N/A
|
323
N/A
|
348
+8%
|
256
-26%
|
231
-10%
|
236
+2%
|
209
-11%
|
230
+10%
|
(57)
N/A
|
(228)
-301%
|
(424)
-86%
|
(532)
-25%
|
(211)
+60%
|
(502)
-138%
|
(267)
+47%
|
(148)
+45%
|
(173)
-17%
|
304
N/A
|
183
-40%
|
160
-13%
|
28
-83%
|
(78)
N/A
|
(67)
+14%
|
(241)
-259%
|
(214)
+11%
|
(163)
+24%
|
(69)
+58%
|
(116)
-69%
|
(56)
+52%
|
(0)
+100%
|
(92)
-46 318%
|
152
N/A
|
6
-96%
|
11
+74%
|
(15)
N/A
|
80
N/A
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(1)
|
(1)
|
(2)
|
(2)
|
(3)
|
(4)
|
(0)
|
(2)
|
(2)
|
(1)
|
(2)
|
(3)
|
(4)
|
(7)
|
(10)
|
(13)
|
(17)
|
(21)
|
(25)
|
(29)
|
(33)
|
(35)
|
(37)
|
(439)
|
(39)
|
(439)
|
(38)
|
(37)
|
(37)
|
(37)
|
(37)
|
(38)
|
(32)
|
(32)
|
(38)
|
(37)
|
(36)
|
(35)
|
(36)
|
(37)
|
(37)
|
(38)
|
(37)
|
(37)
|
(38)
|
(39)
|
(39)
|
(39)
|
(40)
|
(40)
|
(41)
|
(42)
|
(41)
|
(42)
|
(12)
|
(44)
|
(45)
|
(45)
|
(12)
|
(32)
|
(24)
|
(12)
|
(12)
|
(22)
|
(21)
|
(21)
|
(21)
|
(12)
|
(14)
|
(15)
|
|
| Selling, General & Administrative |
(1)
|
(1)
|
(2)
|
(2)
|
(3)
|
(4)
|
(0)
|
(3)
|
(2)
|
(1)
|
(1)
|
(3)
|
(4)
|
(7)
|
(9)
|
(12)
|
(16)
|
(20)
|
(24)
|
(27)
|
(30)
|
(33)
|
(35)
|
(36)
|
(36)
|
(35)
|
(35)
|
(34)
|
(34)
|
(34)
|
(33)
|
(34)
|
(35)
|
(35)
|
(35)
|
(33)
|
(33)
|
(33)
|
(34)
|
(35)
|
(36)
|
(37)
|
(37)
|
(37)
|
(37)
|
(37)
|
(37)
|
(38)
|
(39)
|
(39)
|
(40)
|
(40)
|
(39)
|
(40)
|
(10)
|
(41)
|
(41)
|
(41)
|
(5)
|
(22)
|
(14)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
|
| Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2
|
2
|
2
|
(0)
|
(0)
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(403)
|
(2)
|
(404)
|
(3)
|
(2)
|
(3)
|
(3)
|
(4)
|
(3)
|
3
|
3
|
(3)
|
(3)
|
(3)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
(0)
|
(0)
|
(1)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
(10)
|
(11)
|
(7)
|
(7)
|
(17)
|
(16)
|
(16)
|
(16)
|
(8)
|
(10)
|
(11)
|
|
| Operating Income |
(1)
N/A
|
(1)
-40%
|
3
N/A
|
(2)
N/A
|
(3)
-23%
|
(4)
-30%
|
0
N/A
|
(1)
N/A
|
(1)
-9%
|
(1)
+42%
|
6
N/A
|
15
+128%
|
8
-45%
|
(26)
N/A
|
(9)
+64%
|
47
N/A
|
41
-13%
|
130
+219%
|
222
+71%
|
259
+17%
|
754
+191%
|
469
-38%
|
214
-54%
|
(309)
N/A
|
(459)
-49%
|
(577)
-26%
|
(179)
+69%
|
(285)
-59%
|
(17)
+94%
|
(292)
-1 661%
|
(31)
+89%
|
(185)
-494%
|
(362)
-95%
|
(22)
+94%
|
(45)
-108%
|
287
N/A
|
312
+9%
|
221
-29%
|
195
-12%
|
199
+2%
|
173
-13%
|
192
+12%
|
(94)
N/A
|
(265)
-182%
|
(462)
-74%
|
(571)
-24%
|
(250)
+56%
|
(541)
-117%
|
(306)
+43%
|
(187)
+39%
|
(214)
-15%
|
263
N/A
|
142
-46%
|
118
-17%
|
15
-87%
|
(122)
N/A
|
(112)
+9%
|
(286)
-156%
|
(226)
+21%
|
(195)
+14%
|
(93)
+52%
|
(128)
-37%
|
(68)
+47%
|
(22)
+68%
|
(113)
-414%
|
132
N/A
|
(14)
N/A
|
(2)
+89%
|
(29)
-1 727%
|
65
N/A
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
5
|
7
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
(402)
|
0
|
(402)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
(17)
|
(17)
|
(14)
|
(26)
|
(16)
|
(15)
|
(12)
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
(4)
|
(4)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Total Other Income |
0
|
0
|
0
|
3
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Pre-Tax Income |
5
N/A
|
6
+23%
|
3
-47%
|
1
-68%
|
(1)
N/A
|
(3)
-233%
|
(2)
+50%
|
(1)
+27%
|
(1)
-9%
|
(1)
+42%
|
6
N/A
|
15
+128%
|
8
-45%
|
(26)
N/A
|
(9)
+64%
|
47
N/A
|
41
-13%
|
130
+219%
|
222
+71%
|
259
+17%
|
754
+191%
|
469
-38%
|
(187)
N/A
|
(309)
-65%
|
(861)
-178%
|
(577)
+33%
|
(179)
+69%
|
(285)
-59%
|
(17)
+94%
|
(292)
-1 661%
|
(31)
+89%
|
(185)
-494%
|
(362)
-95%
|
(22)
+94%
|
(46)
-109%
|
287
N/A
|
295
+3%
|
204
-31%
|
181
-11%
|
173
-4%
|
157
-9%
|
177
+13%
|
(106)
N/A
|
(265)
-150%
|
(462)
-74%
|
(571)
-24%
|
(250)
+56%
|
(542)
-117%
|
(307)
+43%
|
(188)
+39%
|
(215)
-14%
|
263
N/A
|
142
-46%
|
118
-17%
|
15
-87%
|
(122)
N/A
|
(112)
+9%
|
(290)
-159%
|
(230)
+21%
|
(195)
+15%
|
(93)
+52%
|
(128)
-37%
|
(68)
+47%
|
(22)
+68%
|
(113)
-414%
|
132
N/A
|
(14)
N/A
|
(2)
+89%
|
(29)
-1 727%
|
65
N/A
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
3
|
4
|
1
|
(0)
|
(1)
|
(3)
|
(1)
|
(1)
|
(1)
|
(1)
|
7
|
15
|
8
|
(26)
|
(9)
|
47
|
41
|
130
|
222
|
259
|
754
|
470
|
(187)
|
(309)
|
(861)
|
(577)
|
(179)
|
(285)
|
(17)
|
(292)
|
(31)
|
(185)
|
(362)
|
(22)
|
(46)
|
287
|
295
|
204
|
181
|
173
|
157
|
177
|
(106)
|
(265)
|
(462)
|
(571)
|
(250)
|
(542)
|
(307)
|
(188)
|
(215)
|
263
|
142
|
118
|
15
|
(122)
|
(112)
|
(290)
|
(230)
|
(195)
|
(93)
|
(128)
|
(68)
|
(22)
|
(113)
|
132
|
(14)
|
(2)
|
(29)
|
65
|
|
| Net Income (Common) |
3
N/A
|
3
+15%
|
1
-84%
|
(1)
N/A
|
(2)
-157%
|
(3)
-72%
|
(2)
+23%
|
(2)
+17%
|
(2)
-10%
|
(2)
+18%
|
7
N/A
|
15
+128%
|
8
-45%
|
(26)
N/A
|
(9)
+64%
|
47
N/A
|
41
-14%
|
129
+218%
|
220
+71%
|
255
+16%
|
746
+193%
|
458
-39%
|
(201)
N/A
|
(325)
-61%
|
(876)
-170%
|
(592)
+32%
|
(195)
+67%
|
(300)
-54%
|
(32)
+89%
|
(308)
-856%
|
(47)
+85%
|
(201)
-329%
|
(378)
-88%
|
(37)
+90%
|
(61)
-63%
|
271
N/A
|
280
+3%
|
189
-33%
|
165
-12%
|
157
-5%
|
141
-11%
|
160
+14%
|
(123)
N/A
|
(282)
-129%
|
(479)
-70%
|
(587)
-23%
|
(266)
+55%
|
(556)
-110%
|
(320)
+43%
|
(199)
+38%
|
(225)
-13%
|
253
N/A
|
132
-48%
|
107
-19%
|
4
-96%
|
(134)
N/A
|
(124)
+8%
|
(302)
-144%
|
(242)
+20%
|
(207)
+14%
|
(105)
+49%
|
(140)
-33%
|
(80)
+43%
|
(34)
+57%
|
(125)
-268%
|
120
N/A
|
(26)
N/A
|
(14)
+49%
|
(41)
-201%
|
53
N/A
|
|
| EPS (Diluted) |
0.89
N/A
|
0.81
-9%
|
0.16
-80%
|
-0.23
N/A
|
-0.6
-161%
|
-1.03
-72%
|
-0.92
+11%
|
-6.66
-624%
|
-3.64
+45%
|
-1.99
+45%
|
9.28
N/A
|
4.48
-52%
|
1.22
-73%
|
-2.63
N/A
|
-1.23
+53%
|
2.78
N/A
|
1.79
-36%
|
3.82
+113%
|
7.86
+106%
|
5.99
-24%
|
15.94
+166%
|
9.87
-38%
|
-4.44
N/A
|
-7.26
-64%
|
-19.64
-171%
|
-13.22
+33%
|
-4.36
+67%
|
-6.82
-56%
|
-0.73
+89%
|
-7.06
-867%
|
-1.09
+85%
|
-5.47
-402%
|
-10.18
-86%
|
-1.01
+90%
|
-1.67
-65%
|
7.38
N/A
|
7.61
+3%
|
4.56
-40%
|
4.17
-9%
|
3.71
-11%
|
3.32
-11%
|
3.77
+14%
|
-2.92
N/A
|
-5.26
-80%
|
-8.02
-52%
|
-9.92
-24%
|
-4.59
+54%
|
-9.44
-106%
|
-4.96
+47%
|
-3.04
+39%
|
-3.57
-17%
|
3.78
N/A
|
1.73
-54%
|
1.25
-28%
|
0.24
-81%
|
-1.39
N/A
|
-1.16
+17%
|
-2.45
-111%
|
-10.25
-318%
|
-5.6
+45%
|
-2.62
+53%
|
-3.01
-15%
|
-1.86
+38%
|
-0.71
+62%
|
-2.57
-262%
|
2.3
N/A
|
-0.51
N/A
|
-0.17
+67%
|
-0.48
-182%
|
0.5
N/A
|
|