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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 126,649 $ 78,512
Adjustments to reconcile net income to net cash provided by operating activities    
Gain on investments at fair value (10,589) (22,190)
Income from equity investments in unconsolidated subsidiaries (133) (5,659)
Non-cash compensation expense 10,315 11,184
Distributions of income from unconsolidated subsidiaries 6,837 5,007
Amortization of deferred interest on loans (20,360) (12,198)
Amortization of deferred financing costs and premiums/discount on debt obligations 9,752 7,955
Changes in assets and liabilities, net    
Other assets 4,248 (56,703)
Other liabilities (3,424) 443
Net cash provided by operating activities 123,295 6,351
Cash flows from investing activities    
Originations and fundings of loans receivable (1,401,871) (6,430,243)
Principal collections and proceeds from loans receivable and other assets 1,323,770 686,037
Origination and exit fees received on loans receivable 21,613 16,373
Change in restricted cash 9,080 4,566
Net cash used in investing activities (47,408) (5,723,267)
Cash flows from financing activities    
Borrowings under secured debt agreements 1,508,171 6,241,975
Repayments under secured debt agreements (1,328,131) (1,520,790)
Proceeds from sales of loan participations 54,441 256,000
Repayment of loan participations (92,000) (124,164)
Payment of deferred financing costs (9,316) (17,712)
Receipts under derivative financial instruments 11,478 4,141
Payments under derivative financial instruments (13,240) (3,079)
Distributions to non-controlling interests (6,987) (36,985)
Net proceeds from issuance of class A common stock 13 1,029,557
Dividends paid on class A common stock (116,323) (60,695)
Net cash provided by financing activities 8,106 5,768,248
Net increase in cash and cash equivalents 83,993 51,332
Cash and cash equivalents at beginning of period 96,450 51,810
Effects of currency translation on cash and cash equivalents 1,353 1,110
Cash and cash equivalents at end of period 181,796 104,252
Supplemental disclosure of cash flows information    
Payments of interest (84,408) (43,558)
Payments of income taxes (204) (126)
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (58,382) (48,480)
Participations sold, net (37,559) 131,836
Principal payments held by servicer 138,573 $ 95,144
Secured debt repayments held by servicer $ (102,626)