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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income (loss) $ 213,008 $ (34,780)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Satisfaction of management and incentive fees in stock   19,277
Non-cash compensation expense 16,105 17,329
Amortization of deferred fees on loans and debt securities (28,674) (28,325)
Amortization of deferred financing costs and premiums/discount on debt obligations 19,277 18,699
(Decrease) increase in current expected credit loss reserve (52,199) 179,521
Unrealized gain on assets denominated in foreign currencies, net (7,065) (953)
Unrealized loss on derivative financial instruments, net 635 648
Realized loss on derivative financial instruments, net 3,119 353
Changes in assets and liabilities, net    
Other assets (4,261) 7,778
Other liabilities 5,428 (3,839)
Net cash provided by operating activities 165,373 175,708
Cash flows from investing activities    
Origination and fundings of loans receivable (3,636,063) (1,240,642)
Principal collections and sales proceeds from loans receivable and debt securities 2,670,773 928,348
Origination and exit fees received on loans receivable 41,262 11,969
Receipts under derivative financial instruments 23,194 85,465
Payments under derivative financial instruments (72,478) (28,488)
Collateral deposited under derivative agreements (81,430) (191,540)
Return of collateral deposited under derivative agreements 129,770 200,160
Net cash used in investing activities (924,972) (234,728)
Cash flows from financing activities    
Borrowings under secured debt 4,230,404 2,152,438
Repayments under secured debt (3,332,395) (2,403,349)
Proceeds from issuance of securitized debt obligations 803,750 1,243,125
Repayment of securitized debt obligations (888,763) (179,759)
Borrowings under asset-specific debt 77,975 47,604
Repayments under asset-specific debt (178,073) (82,754)
Net proceeds from issuance of term loans 298,500 315,438
Repayments of term loans (6,625) (3,744)
Payment of deferred financing costs (22,811) (27,906)
Contributions from non-controlling interests 28,193 8,108
Distributions to non-controlling interests (21,874) (10,128)
Net proceeds from issuance of class A common stock 0 278,322
Dividends paid on class A common stock (182,163) (167,623)
Net cash provided by financing activities 806,118 1,169,772
Net increase in cash, cash equivalents, and restricted cash 46,519 1,110,752
Cash, cash equivalents, and restricted cash at beginning of period 289,970 150,090
Effects of currency translation on cash, cash equivalents, and restricted cash 3,063 (1,006)
Cash, cash equivalents, and restricted cash at end of period 339,552 1,259,836
Supplemental disclosure of cash flows information    
Payments of interest (140,601) (173,040)
Receipts (payments) of income taxes 141 (148)
Supplemental disclosure of non-cash investing and financing activities    
Dividends declared, not paid (91,150) (90,642)
Satisfaction of management and incentive fees in stock 0 19,277
Loan principal payments held by servicer, net $ 27,612 $ 81,261