Supplemental Disclosures Consolidated Statements of Cash Flows

3 Months Ended

Sep. 30, 2011

Notes to Financial Statements

Supplemental Disclosures Consolidated Statements of Cash Flows

Note 18. Supplemental Disclosures for Consolidated Statements of Cash Flows

As described in Note 2, our financial statements include eleven consolidated securitization vehicles. The consolidation of these entities has materially impacted our statement of cash flows, primarily the amounts reported as principal collections of loans and repayments of securitized debt obligations. Notwithstanding the gross presentation on our consolidated statement of cash flows, the consolidation of these entities has no impact on our net cash flow.

Interest paid on our outstanding debt obligations during the nine months ended September 30, 2011 and 2010 was $85.2 million and $79.9 million, respectively. The difference between interest expense on our consolidated statement of operations and interest paid is primarily due to non-cash interest expense recorded on loan participations sold, as well as amortization of discounts on our debt obligations.

Net taxes paid by us during the nine months ended September 30, 2011 were $2.4 million and taxes recovered by us for the nine months ended September 30, 2010 were $132,000.