Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Results of Operations for Each Segment

The following table presents our results of operations for each segment for the three months ended June 30, 2013 ($ in thousands):

	Loan Origination			CT Legacy Portfolio			Total
Income from loans and other investments:
Interest and related income	$	1,908		$	4,109		$	6,017
Less: Interest and related expenses		168			1,138			1,306
Income from loans and other investments, net		1,740			2,971			4,711
Other expenses:
General and administrative		2,153			1,274			3,427
Total other expenses		2,153			1,274			3,427
Valuation allowance on loans held-for-sale		—			2,000			2,000
Unrealized gain on investments at fair value		—			4,000			4,000
Gain on extinguishment of debt		—			38			38
(Loss) income before income taxes		(413	)		7,735			7,322
Income tax provision		2			552			554
Net (loss) income	($	415	)	$	7,183		$	6,768
Net income attributable to non-controlling interests		—			(4,020	)		(4,020	)
Net (loss) income attributable to Blackstone Mortgage Trust, Inc.	($	415	)	$	3,163		$	2,748

The following table presents the key components of our results of operations for each segment for the six months ended June 30, 2013 ($ in thousands):

	Loan			Legacy
	Origination			Portfolio			Total
Income from loans and other investments:
Interest and related income	$	1,908		$	5,565		$	7,473
Less: Interest and related expenses		168			1,915			2,083
Income from loans and other investments, net		1,740			3,650			5,390
Other expenses:
General and administrative		2,883			2,582			5,465
Total other expenses		2,883			2,582			5,465
Valuation allowance on loans held-for-sale		—			1,800			1,800
Unrealized gain on investments at fair value		—			4,000			4,000
Gain on extinguishment of debt		—			38			38
(Loss) income before income taxes		(1,143	)		6,906			5,763
Income tax provision		40			553			593
Net (loss) income	($	1,183	)	$	6,353		$	5,170
Net income attributable to non-controlling interests		—			(5,537	)		(5,537	)
Net (loss) income attributable to Blackstone Mortgage Trust, Inc.	($	1,183	)	$	816		($	367	)

Summary of Consolidated Statement of Financial Condition for Each Segment

The following table presents our consolidated statement of financial condition for each segment as of June 30, 2013 ($ in thousands):

	Loan Origination		Legacy Portfolio		Total
Assets
Assets:
Cash and cash equivalents	$	59,746	$	—	$	59,746
Restricted cash		—		21,972		21,972
Loans receivable, net		753,101		77,000		830,101
Loans held-for-sale, net		—		3,800		3,800
Loans receivable, at fair value		—		117,549		117,549
Equity investments in unconsolidated subsidiaries		—		23,240		23,240
Accrued interest receivable, prepaid expenses, and other assets		5,912		24,785		30,697
Total assets	$	818,759	$	268,346	$	1,087,105
Liabilities & Equity
Liabilities:
Accounts payable, accrued expenses and other liabilities	$	4,827	$	32,052	$	36,879
Secured notes		—		8,848		8,848
Repurchase obligations		165,239		—		165,239
Securitized debt obligations		—		74,472		74,472
Total liabilities		170,066		115,372		285,438
Equity:
Total Blackstone Mortgage Trust, Inc. stockholders’ equity		648,693		63,996		712,689
Non-controlling interests		—		88,978		88,978
Total equity		648,693		152,974		801,667
Total liabilities and equity	$	818,759	$	268,346	$	1,087,105