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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 298,047 $ 297,412
Adjustments to reconcile net income to net cash provided by operating activities    
Non-cash compensation expense 25,286 24,184
Amortization of deferred fees on loans and debt securities (59,285) (43,299)
Amortization of deferred financing costs and premiums/discounts on debt obligations 35,455 29,698
Increase (decrease) in current expected credit loss reserve 22,694 (49,432)
Unrealized gain on assets denominated in foreign currencies, net (31) (7,088)
Unrealized gain on derivative financial instruments, net (3,227) (3,298)
Realized (gain) loss on derivative financial instruments, net (8,418) 5,483
Changes in assets and liabilities, net    
Other assets (72,769) (12,106)
Other liabilities 28,858 13,468
Net cash provided by operating activities 266,610 255,022
Cash flows from investing activities    
Principal fundings of loans receivable (6,210,880) (7,449,491)
Principal collections and sales proceeds from loans receivable and debt securities 2,670,902 3,423,460
Origination and exit fees received on loans receivable 67,950 79,971
Receipts under derivative financial instruments 279,343 44,428
Payments under derivative financial instruments (7,385) (75,458)
Collateral deposited under derivative agreements (56,330) (94,060)
Return of collateral deposited under derivative agreements 56,330 145,110
Net cash used in investing activities (3,200,070) (3,926,040)
Cash flows from financing activities    
Borrowings under secured debt 4,857,829 7,701,481
Repayments under secured debt (3,090,429) (4,239,614)
Proceeds from issuance of securitized debt obligations 0 803,750
Repayment of securitized debt obligations 0 (888,763)
Borrowings under asset-specific debt 654,578 106,443
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 (11,554) (10,060)
Net proceeds from issuance of convertible notes 294,000 0
Repayment of convertible notes (402,500) 0
Payment of deferred financing costs (37,747) (29,339)
Contributions from non-controlling interests 5,040 47,261
Distributions to non-controlling interests (11,927) (33,581)
Net proceeds from issuance of class A common stock 70,651 311,955
Dividends paid on class A common stock (315,430) (273,311)
Net cash provided by financing activities 2,671,630 3,616,649
Net decrease in cash, cash equivalents, and restricted cash (261,830) (54,369)
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 (17,425) 579
Cash, cash equivalents, and restricted cash at end of period 271,899 236,180
Supplemental disclosure of cash flows information    
Payments of interest (374,646) (207,293)
(Payments) receipts of income taxes (730) 107
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (105,956) (97,552)
Loan principal payments held by servicer, net $ 1,902 $ 299