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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net (loss) income $ (53,283) $ 76,867
Adjustments to reconcile net (loss) income to net cash provided by operating activities    
Non-cash compensation expense 8,678 7,768
Amortization of deferred fees on loans and debt securities (14,399) (13,356)
Amortization of deferred financing costs and premiums/ discount on debt obligations 9,704 7,265
Increase in current expected credit loss reserve 122,702  
Changes in assets and liabilities, net    
Other assets (7,432) (4,780)
Other liabilities 2,647 3,808
Net cash provided by operating activities 68,617 77,572
Cash flows from investing activities    
Origination and fundings of loans receivable (971,322) (799,326)
Principal collections and sales proceeds from loans receivable and debt securities 620,994 463,483
Origination and exit fees received on loans receivable 8,610 5,501
Receipts under derivative financial instruments 85,432 2,956
Payments under derivative financial instruments (23,780) (970)
Collateral deposited under derivative agreements (102,140) (9,090)
Return of collateral deposited under derivative agreements 132,940 4,000
Net cash used in investing activities (249,266) (333,446)
Cash flows from financing activities    
Borrowings under secured debt agreements 986,342 721,571
Repayments under secured debt agreements (1,555,997) (483,748)
Proceeds from issuance of collateralized loan obligations 1,243,125  
Repayment of collateralized loan obligations (179,759)  
Proceeds from sale of loan participations 0 12,802
Repayments of secured term loan (1,872)  
Payment of deferred financing costs (20,487) (11,200)
Contributions from non-controlling interests 8,108 1,470
Distributions to non-controlling interests (6,681) (64)
Net proceeds from issuance of class A common stock 0 65,377
Dividends paid on class A common stock (83,702) (76,530)
Net cash provided by financing activities 389,077 229,678
Net increase (decrease) in cash, cash equivalents, and restricted cash 208,428 (26,196)
Cash and cash equivalents at beginning of period 150,090 105,662
Effects of currency translation on cash and cash equivalents (3,500) (29)
Cash and cash equivalents at end of period 355,018 79,437
Supplemental disclosure of cash flows information    
Payments of interest (91,341) (107,971)
Payments of income taxes (122) (74)
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (83,920) (77,913)
Loan principal payments held by servicer, net $ 656 $ 37,285