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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 51,405 $ 57,199
Adjustments to reconcile net income to net cash provided by operating activities    
Non-cash compensation expense 5,907 4,852
Amortization of deferred fees on loans (8,808) (8,954)
Amortization of deferred financing costs and premiums/ discount on debt obligations 4,535 4,053
Income from equity investment in unconsolidated subsidiary   (138)
Distributions of income from unconsolidated subsidiary   6,837
Gain on investments at fair value   (66)
Changes in assets and liabilities, net    
Other assets 1,699 4,254
Other liabilities 2,636 (2,256)
Net cash provided by operating activities 57,374 65,781
Cash flows from investing activities    
Origination and fundings of loans receivable (702,353) (586,066)
Principal collections and sales proceeds from loans receivable and other assets 567,321 420,513
Origination and exit fees received on loans receivable 12,429 10,424
Receipts under derivative financial instruments 1,903  
Payments under derivative financial instruments (3,752)  
Change in restricted cash   9,122
Net cash used in investing activities (124,452) (146,007)
Cash flows from financing activities    
Borrowings under secured debt agreements 789,865 629,897
Repayments under secured debt agreements (672,161) (466,536)
Repayment of loan participations   (9,600)
Payment of deferred financing costs (3,895) (5,260)
Receipts under derivative financial instruments   11,478
Payments under derivative financial instruments   (3,260)
Distributions to non-controlling interests   (6,879)
Net proceeds from issuance of class A common stock 8 6
Dividends paid on class A common stock (58,615) (58,097)
Net cash provided by financing activities 55,202 91,749
Net (decrease) increase in cash and cash equivalents (11,876) 11,523
Cash and cash equivalents at beginning of period 75,567 96,450
Effects of currency translation on cash and cash equivalents 584 2,649
Cash and cash equivalents at end of period 64,275 110,622
Supplemental disclosure of cash flows information    
Payments of interest (39,287) (38,121)
Payments of income taxes (50) (151)
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (58,787) (58,226)
Participations sold, net   (9,600)
Loan principal payments held by servicer, net $ 42,715 $ 75,378