Equity (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Primary Components of Accumulated Other Comprehensive Loss

The following table details the primary components of accumulated other comprehensive loss as of September 30, 2012, and significant activity for the nine months ended September 30, 2012 ($ in thousands):


Accumulated Other Comprehensive Loss	Mark-to-Market on Interest Rate Hedges			Deferred Gains on Settled Hedges			Other-than- Temporary Impairments			Unrealized Gains on Securities			Total
Total as of December 31, 2011	($	27,423	)	$	56		($	16,578	)	$	3,361		($	40,584	)

Unrealized gain on derivative financial instruments		5,853			—			—			—			5,853
Ineffective portion of cash flow hedges ⁽¹⁾		2,481			—			—			—			2,481
Amortization of net unrealized gains on securities		—			—			—			(770	)		(770	)
Amortization of net deferred gains on settlement of swaps		—			(56	)		—			—			(56	)
Other-than-temporary impairments of securities ⁽²⁾		—			—			409			—			409
Deconsolidation of CT Legacy Assets ⁽³⁾		—			—			3,879			(2,586	)		1,293

Total as of September 30, 2012	($	19,089	)	$	—		($	12,290	)	$	5		($	31,374	)

(1)	As a result of the deconsolidation of CT Legacy Assets in the first quarter of 2012, the balance of accumlated other comprehensive loss related to cash flow hedges of CT Legacy Assets was reclassified to interest expense.

(2)	Represents other-than-temporary impairments of securities in excess of credit losses, including amortization of prior other-than-temporary impairments of $248,000.

Schedule of Components of Non-Controlling Interests

The following table details the components of non-controlling interests in CT Legacy Partners as of September 30, 2013 ($ in thousands):


Gross investment in CT Legacy Partners
Restricted cash	$	76,396
Loans receivable, at fair value		66,063
Accrued interest receivable, prepaid expenses, and other assets		21,054
Accounts payable, accrued expenses and other liabilities		(412	)

	$	163,101

Equity interests owned by Blackstone Mortgage Trust, Inc.		(72,886	)

Non-controlling interests in CT Legacy Partners	$	90,215

Schedule of Details Movement in Our Outstanding Class A Common Stock and Restricted Class A Common Stock

The following table details the movement in our outstanding shares of class A common stock, restricted class A common stock, and deferred stock units:


	Nine Months Ended September 30,
Common Stock Outstanding ^(1)(2)(3)	2013		2012
Beginning balance		3,016,407		2,277,344
Issuance of class A common stock		25,875,000		—
Transactions related to stock-based incentive plans
Issuance of restricted class A common stock, net		—		36,400
Issuance of deferred stock units		6,758		5,418

Ending balance		28,898,165		2,319,162

(1)	Includes shares of our class A common stock, restricted class A common stock, and deferred stock units.

(2)	Deferred stock units held by members of our board of directors totaled 96,514, and 61,652 as of September 30, 2013 and 2012, respectively.

(3)	Share amounts have been retroactively updated to reflect the one-for-ten reverse stock split which we effected as of May 6, 2013. See above for further discussion.

Schedule of Basic and Diluted Earnings Per Share, or EPS, Based on Weighted Average of Both Restricted and Unrestricted Class A Common Stock Outstanding

The following table sets forth the calculation of basic and diluted net income per share of class A common stock based on the weighted-average of both restricted and unrestricted class A common stock outstanding, for the indicated periods ($ in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Net income	$	8,320	$	6,999	$	7,953	$	75,835

Weighted-average shares outstanding ⁽¹⁾		28,894,515		2,317,343		14,865,530		2,296,910
Warrants and options outstanding for the purchase of class A common stock		—		144,260		—		147,296

Weighted-average shares outstanding, diluted		28,894,515		2,461,603		14,865,530		2,444,206
Per share amount, basic	$	0.29	$	3.02	$	0.53	$	33.02

Per share amount, diluted	$	0.29	$	2.84	$	0.53	$	31.03

(1)	Share and per share amounts have been retroactively updated to reflect the one-for-ten reverse stock split which we effected as of May 6, 2013. See above for further discussion.

Schedule of Basic and Diluted Earnings Per Share, Continuing Operations

The following table sets forth the calculation of basic and diluted income from continuing operations per share of class A common stock based on the weighted-average of both restricted and unrestricted class A common stock outstanding ($ in thousands, except per share data):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Income from continuing operations	$	10,526		$	12,849		$	15,696		$	157,736
Net income attributable to non-controlling interests		(2,206	)		(5,901	)		(7,743	)		(81,038	)

Income from continuing operations attributable to Blackstone Mortgage Trust, Inc.	$	8,320		$	6,948		$	7,953		$	76,698

Weighted-average shares outstanding ⁽¹⁾		28,894,515			2,317,343			14,865,530			2,296,910
Warrants and options outstanding for the purchase of class A common stock		—			144,260			—			147,296

Weighted-average shares outstanding, diluted		28,894,515			2,461,603			14,865,530			2,444,206
Per share amount, basic	$	0.29		$	3.00		$	0.53		$	33.39

Per share amount, diluted	$	0.29		$	2.82		$	0.53		$	31.40

(1)	Share and per share amounts have been retroactively updated to reflect the one-for-ten reverse stock split which we effected as of May 6, 2013. See above for further discussion.