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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 193,040 $ 146,288
Adjustments to reconcile net income to net cash provided by operating activities    
Gain on investments at fair value (13,413) (22,108)
Income from equity investments in unconsolidated subsidiaries (2,192) (5,677)
Non-cash compensation expense 16,517 14,470
Distributions of income from unconsolidated subsidiaries 8,167 5,007
Amortization of deferred interest on loans (31,594) (25,489)
Amortization of deferred financing costs and premiums/discount on debt obligations 15,129 14,684
Changes in assets and liabilities, net    
Other assets 8,315 (28,679)
Other liabilities (6,405) 6,114
Net cash provided by operating activities 187,564 104,610
Cash flows from investing activities    
Originations and fundings of loans receivable (2,300,636) (6,807,347)
Principal collections and sale proceeds from loans receivable and other assets 3,054,821 1,584,189
Origination and exit fees received on loans receivable 35,388 26,799
Change in restricted cash 8,678 2,528
Net cash provided by (used in) investing activities 798,251 (5,193,831)
Cash flows from financing activities    
Borrowings under secured debt agreements 2,225,895 6,560,426
Repayments under secured debt agreements (2,988,217) (2,279,837)
Proceeds from sales of loan participations 54,441 256,000
Repayment of loan participations (92,000) (238,164)
Payment of deferred financing costs (12,564) (19,932)
Receipts under derivative financial instruments 31,668 15,653
Payments under derivative financial instruments (14,266) (3,742)
Distributions to non-controlling interests (20,158) (37,202)
Net proceeds from issuance of class A common stock 20 1,029,535
Dividends paid on class A common stock (174,549) (109,178)
Net cash (used in) provided by financing activities (989,730) 5,173,559
Net (decrease) increase in cash and cash equivalents (3,915) 84,338
Cash and cash equivalents at beginning of period 96,450 51,810
Effects of currency translation on cash and cash equivalents 1,526 2,452
Cash and cash equivalents at end of period 94,061 138,600
Supplemental disclosure of cash flows information    
Payments of interest (123,564) (85,494)
Payments of income taxes (131) (125)
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (58,388) (57,800)
Participations sold, net 37,559 17,836
Loan Principal payments held by servicer, net $ 9,515 $ 232,818