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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 227,811 $ 211,917
Adjustments to reconcile net income to net cash provided by operating activities    
Non-cash compensation expense 23,276 20,488
Amortization of deferred fees on loans and debt securities (40,110) (35,955)
Amortization of deferred financing costs and premiums/discount on debt obligations 22,702 20,993
Changes in assets and liabilities, net    
Other assets (3,518) (9,709)
Other liabilities (1,570) 15,001
Net cash provided by operating activities 228,591 222,735
Cash flows from investing activities    
Origination and fundings of loans receivable (3,319,563) (5,222,803)
Principal collections and sales proceeds from loans receivable and debt securities 2,589,622 2,503,454
Loan contributed to securitization   512,002
Investment in debt securities held-to-maturity   (95,937)
Origination and exit fees received on loans receivable 32,527 74,111
Receipts under derivative financial instruments 35,756 34,975
Payments under derivative financial instruments (4,650) (14,031)
Collateral deposited under derivative agreements (11,400) (32,110)
Return of collateral deposited under derivative agreements 9,090 28,870
Net cash used in investing activities (668,618) (2,211,469)
Cash flows from financing activities    
Borrowings under secured debt agreements 2,950,456 5,749,678
Repayments under secured debt agreements (3,048,960) (4,147,893)
Proceeds from sale of loan participations 21,346 86,339
Repayment of loan participations (115,874) (85,875)
Net proceeds from issuance of secured term loans 498,750  
Repayments on secured term loans (1,250)  
Payment of deferred financing costs (25,710) (18,995)
Contributions from non-controlling interests 26,721 4,500
Distributions to non-controlling interests (20,556) (4,100)
Net proceeds from issuance of convertible notes   214,775
Repayment of convertible notes   (192)
Net proceeds from issuance of class A common stock 372,329 369,787
Dividends paid on class A common stock (237,702) (203,065)
Net cash provided by financing activities 419,550 1,964,959
Net decrease in cash and cash equivalents (20,477) (23,775)
Cash and cash equivalents at beginning of period 105,662 102,518
Effects of currency translation on cash and cash equivalents (896) 8,244
Cash and cash equivalents at end of period 84,289 86,987
Supplemental disclosure of cash flows information    
Payments of interest (324,013) (224,320)
Payments of income taxes (205) (546)
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (83,259) (74,195)
Loan principal payments held by servicer, net $ 56,843 $ 3,577