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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 194,128 $ 213,008
Adjustments to reconcile net income to net cash provided by operating activities    
Non-cash compensation expense 17,068 16,105
Amortization of deferred fees on loans and debt securities (38,740) (28,674)
Amortization of deferred financing costs and premiums/ discount on debt obligations 22,059 19,277
Increase (decrease) in current expected credit loss reserve 10,446 (52,199)
Unrealized gain on assets denominated in foreign currencies, net (31) (7,065)
Unrealized (gain) loss on derivative financial instruments, net (713) 635
Realized (gain) loss on derivative financial instruments, net (4,326) 3,119
Changes in assets and liabilities, net    
Other assets (39,865) (4,261)
Other liabilities 23,570 5,428
Net cash provided by operating activities 183,596 165,373
Cash flows from investing activities    
Principal fundings of loans receivable (5,589,977) (3,636,063)
Principal collections and sales proceeds from loans receivable and debt securities 2,004,323 2,670,773
Origination and exit fees received on loans receivable 58,716 41,262
Receipts under derivative financial instruments 129,010 23,194
Payments under derivative financial instruments (6,528) (72,478)
Collateral deposited under derivative agreements 0 (81,430)
Return of collateral deposited under derivative agreements 0 129,770
Net cash used in investing activities (3,404,456) (924,972)
Cash flows from financing activities    
Borrowings under secured debt 4,246,219 4,230,404
Repayments under secured debt (2,183,131) (3,332,395)
Proceeds from issuance of securitized debt obligations 0 803,750
Repayment of securitized debt obligations 0 (888,763)
Borrowings under asset-specific debt 551,893 77,975
Repayments under asset-specific debt (78,659) (178,073)
Proceeds from sale of loan participations 245,278 0
Net proceeds from issuance of term loans 492,500 298,500
Repayments of term loans (6,869) (6,625)
Net proceeds from issuance of convertible notes 294,000 0
Repayment of convertible notes (402,500) 0
Payment of deferred financing costs (30,489) (22,811)
Contributions from non-controlling interests 5,040 28,193
Distributions to non-controlling interests (11,359) (21,874)
Net proceeds from issuance of class A common stock 52,155 0
Dividends paid on class A common stock (209,847) (182,163)
Net cash provided by financing activities 2,964,231 806,118
Net (decrease) increase in cash, cash equivalents, and restricted cash (256,629) 46,519
Cash, cash equivalents, and restricted cash at beginning of period 551,154 289,970
Effects of currency translation on cash, cash equivalents, and restricted cash (10,945) 3,063
Cash, cash equivalents, and restricted cash at end of period 283,580 339,552
Supplemental disclosure of cash flows information    
Payments of interest (188,611) (140,601)
(Payments) receipts of income taxes (407) 141
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (105,583) (91,150)
Loan principal payments held by servicer, net $ 189,909 $ 27,612