XML 100 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Mar. 31, 2011
Mar. 31, 2010
Jun. 30, 2011
Jun. 30, 2010
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:                  
Net income (loss) $ 10,452,000 $ 588,000 $ 9,854,000 $ (1,259,000) $ 23,260,000 $ (7,849,000) $ 87,804,000 $ 19,609,000 $ (16,675,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:                  
Impairment charges             2,280,000    
Provision for credit losses             17,246,000 10,661,000 5,209,000
Equity in earnings of unconsolidated entities             (3,439,000) (10,377,000)  
(Gain) loss on sale of leases and loans             (37,000) (659,000)  
Other-than-temporary impairment losses recognized in earnings             74,000    
Gain on sale and deconsolidation of subsidiaries             (63,291,000)    
Loss on extinguishment of debt             2,190,000    
Gain on sale of management contract               (6,520,000)  
Loss (income) from discontinued operations     2,153,000 2,000 2,176,000 3,000 58,000 2,202,000 (622,000)
Net cash used in operating activities (20,263,000) (1,153,000) (465,000) 26,892,000 18,067,000 22,986,000 (5,447,000) 15,186,000 26,439,000
CASH FLOWS FROM INVESTING ACTIVITIES:                  
Net cash provided by (used in) investing activities (58,803,000) 516,000 (100,904,000) 1,969,000 (137,653,000) 7,856,000 105,965,000 (473,884,000) (2,520,000)
CASH FLOWS FROM FINANCING ACTIVITIES:                  
Net cash (used in) provided by financing activities 82,353,000 (17,151,000) 106,569,000 (47,734,000) 137,077,000 (47,872,000) (104,295,000) 473,178,000 (38,873,000)
CASH FLOWS FROM DISCONTINUED OPERATIONS:                  
Operating activities             (1,285,000) (1,268,000) 0
Net cash used in discontinued operations     52,000 0 (181,000) (3,000) (1,285,000) (1,268,000) 0
(Decrease) increase in cash 3,287,000 (17,788,000) 5,252,000 (18,873,000) 17,310,000 (17,033,000) (5,062,000) 13,212,000 (14,954,000)
Cash, beginning of year 11,243,000 26,197,000 11,243,000 26,197,000 11,243,000 26,197,000 24,455,000 11,243,000 26,197,000
Cash, end of year 14,530,000 8,409,000 16,495,000 7,324,000 28,553,000 9,164,000 19,393,000 24,455,000 11,243,000
RAI [Member]
                 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                  
Depreciation and amortization 1,999,000 3,173,000 6,331,000 6,721,000 10,955,000 10,192,000 4,875,000 15,868,000 12,088,000
Impairment charges     0 297,000 0 364,000 2,280,000 0 2,828,000
Provision for credit losses 2,405,000 776,000 5,124,000 1,986,000 8,600,000 3,414,000 17,246,000 11,460,000 5,209,000
Unrealized gain on trading securities             (1,108,000) 0 0
Equity in earnings of unconsolidated entities (1,427,000) (3,405,000) (1,944,000) (3,441,000) (9,367,000) (4,098,000) (3,439,000) (10,377,000) (4,870,000)
Distributions from unconsolidated entities 663,000 1,261,000 2,751,000 2,701,000 5,018,000 3,823,000 3,463,000 4,522,000 5,104,000
(Gain) loss on sale of leases and loans (11,000) 582,000 (263,000) 551,000 (357,000) 7,705,000 (37,000) (659,000) 8,097,000
Other-than-temporary impairment losses recognized in earnings             74,000 0 809,000
(Gain) loss on sale of loans and investment securities, net 1,461,000 0 1,364,000 424,000 1,282,000 451,000 (972,000) 1,198,000 451,000
Gain on sale of assets 0 (244,000) 0 (287,000) 0 (2,040,000) (84,000) (196,000) (2,870,000)
Gain on sale and deconsolidation of subsidiaries             (63,291,000) 0 0
Loss on extinguishment of debt             2,190,000 0 0
Gain on sale of management contract (6,520,000) 0 (6,520,000) 0 (6,520,000) 0 0 (6,520,000) 0
Deferred income tax provision 422,000 34,000 (3,065,000) 33,000 (1,667,000) 29,000 13,393,000 (5,657,000) (4,564,000)
Equity-based compensation issued 781,000 1,120,000 1,401,000 2,014,000 1,963,000 2,874,000 1,286,000 2,525,000 3,573,000
Equity-based compensation received 0 (375,000) 0 (375,000) 0 (1,118,000) 0 0 (1,441,000)
Trading securities purchases and sales, net             (1,048,000) 0 0
Decrease in commercial finance investments 0 8,386,000 0 37,182,000 0 30,959,000 0 0 17,603,000
Loss (income) from discontinued operations     2,153,000 2,000 2,176,000 3,000 58,000 2,202,000 (622,000)
Changes in operating assets and liabilities (611,000) (13,049,000) (1,047,000) (19,657,000) (2,983,000) (21,723,000) (2,911,000) (2,624,000) 1,719,000
CASH FLOWS FROM INVESTING ACTIVITIES:                  
Capital expenditures (38,000) (118,000) (411,000) (236,000) (739,000) (320,000) (222,000) (1,165,000) (782,000)
Payments received on real estate loans and real estate     0 2,885,000 16,291,000 8,355,000 1,726,000 16,487,000 9,205,000
Investments in unconsolidated real estate entities (283,000) 0 (419,000) (1,512,000) (854,000) (1,908,000) (1,608,000) (2,371,000) (1,821,000)
Purchase of commercial finance assets (10,690,000) 0 (25,790,000) 0 (65,762,000) 0 (18,483,000) (105,777,000) (11,771,000)
Principal payments received on leases and loans     0 333,000 18,732,000 0 9,043,000 29,056,000 0
Purchase of loans and investments 0 (1,640,000) 0 (1,011,000) 0 (1,011,000) (1,874,000) 0 (1,445,000)
Cash divested on deconsolidation of LEAF             (2,284,000) 0 0
Net proceeds from sale of Apidos and cash divested on deconsolidation             17,860,000 0 0
Proceeds from sale of management contract 9,095,000 0 9,095,000 0 9,095,000 0 0 9,095,000 0
Proceeds from sale of loans and investments 2,946,000 2,274,000 3,341,000 1,510,000 3,534,000 2,740,000 262,000 3,779,000 4,094,000
CASH FLOWS FROM FINANCING ACTIVITIES:                  
Increase in borrowings 1,000,000 45,701,000 31,000,000 71,001,000 66,217,000 81,802,000 128,845,000 106,043,000 103,401,000
Principal payments on borrowings (1,908,000) (62,326,000) (13,756,000) (116,525,000) (45,776,000) (127,889,000) (129,416,000) (55,778,000) (128,767,000)
Dividends paid (551,000) (540,000) (1,105,000) (1,088,000) (1,675,000) (1,087,000) (2,310,000) (2,246,000) (1,636,000)
Proceeds from issuance of common stock     1,853,000 58,000 1,914,000 58,000 2,131,000 1,914,000 58,000
Repurchase of common stock             (2,324,000) (241,000) 0
(Increase) decrease in restricted cash 6,617,000 510,000 (3,518,000) 194,000 4,947,000 1,068,000 (664,000) 4,530,000 (9,277,000)
Other 73,000 (496,000) (1,075,000) (1,374,000) (1,992,000) (1,824,000) (2,275,000) (2,299,000) (2,652,000)
CASH FLOWS FROM DISCONTINUED OPERATIONS:                  
Operating activities     52,000 0 (181,000) (3,000) (1,285,000) (1,268,000)  
Cash, beginning of year             24,455,000    
Cash, end of year 14,530,000   16,495,000   28,553,000   19,393,000 24,455,000  
RSO [Member]
                 
Adjustments to reconcile net income (loss) to net cash used in operating activities:                  
Change in cash attributable to operations of consolidated VIE - RSO (29,877,000) 0 (16,604,000) 0 (14,293,000) 0 (65,226,000) (16,165,000) 0
CASH FLOWS FROM INVESTING ACTIVITIES:                  
Purchase of loans and investments (213,887,000) 0 (436,374,000) 0 (592,226,000) 0 (769,762,000) (1,072,132,000) 0
Principal payments and proceeds from sales received by consolidated VIE - RSO 145,670,000 0 295,166,000 0 370,238,000 0 822,476,000 663,663,000 0
Increase in restricted cash of consolidated VIE - RSO (4,053,000) 0 (20,023,000) 0 22,334,000 0 50,756,000 31,014,000 0
Other investing activity of consolidated VIE - RSO 12,437,000 0 74,511,000 0 81,704,000 0 (1,925,000) (45,533,000) 0
CASH FLOWS FROM FINANCING ACTIVITIES:                  
Net (repayments) borrowings of debt by consolidated VIE - RSO 15,109,000 0 23,687,000 0 50,411,000 0 (207,149,000) 358,029,000 0
Dividends paid on common stock by consolidated VIE - RSO (13,944,000) 0 (30,922,000) 0 (48,877,000) 0 (71,876,000) (67,414,000) 0
Proceeds from issuance of common stock 76,619,000 0 100,946,000 0 112,449,000 0 171,056,000 129,911,000 0
Other $ (662,000) $ 0 $ (541,000) $ 0 $ (541,000) $ 0 $ 9,687,000 $ 729,000 $ 0