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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net (loss) income $ (34,780) $ 152,418
Adjustments to reconcile net (loss) income to net cash provided by operating activities    
Satisfaction of management and incentive fees in stock 19,277  
Non-cash compensation expense 17,329 15,522
Amortization of deferred fees on loans and debt securities (28,325) (28,511)
Amortization of deferred financing costs and premiums/discount on debt obligations 18,747 15,232
Increase in current expected credit loss reserve 179,521  
Changes in assets and liabilities, net    
Other assets 7,778 (1,285)
Other liabilities (3,839) 3,808
Net cash provided by operating activities 175,708 157,184
Cash flows from investing activities    
Origination and fundings of loans receivable (1,240,642) (1,922,219)
Principal collections and sales proceeds from loans receivable and debt securities 928,348 1,807,121
Origination and exit fees received on loans receivable 11,969 17,721
Receipts under derivative financial instruments 85,465 9,893
Payments under derivative financial instruments (28,488) (2,941)
Collateral deposited under derivative agreements (191,540) (9,090)
Return of collateral deposited under derivative agreements 200,160 9,090
Net cash used in investing activities (234,728) (90,425)
Cash flows from financing activities    
Borrowings under secured debt agreements 2,200,042 1,464,038
Repayments under secured debt agreements (2,486,103) (2,172,557)
Proceeds from issuance of collateralized loan obligations 1,243,125  
Repayment of collateralized loan obligations (179,759)  
Proceeds from sale of loan participations   21,346
Repayment of loan participations 0 (115,874)
Net proceeds from issuance of secured term loans 315,438 498,750
Repayments of secured term loans (3,744)  
Payment of deferred financing costs (27,906) (23,323)
Contributions from non-controlling interests 8,108 18,628
Distributions to non-controlling interests (10,128) (728)
Net proceeds from issuance of class A common stock 278,322 372,329
Dividends paid on class A common stock (167,623) (154,443)
Net cash provided by (used in) financing activities 1,169,772 (91,834)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,110,752 (25,075)
Cash and cash equivalents at beginning of period 150,090 105,662
Effects of currency translation on cash and cash equivalents (1,006) (3)
Cash and cash equivalents at end of period 1,259,836 80,584
Supplemental disclosure of cash flows information    
Payments of interest (173,040) (219,573)
Payments of income taxes (148) (99)
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (90,642) (83,259)
Satisfaction of management and incentive fees in stock 19,277  
Loan principal payments held by servicer, net $ 81,261 $ 32,975