The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated balance sheet as of June 30, 2013 (in thousands) (unaudited):



				Restatement Adjustments
	As Previously Reported			RSO		Eliminations			As Restated
ASSETS
Cash	$	12,173		$	—	$	—		$	12,173
Restricted cash	561			—		—			561
Receivables	1,069			—		—			1,069
Receivables from managed entities and related parties, net	32,433			—		(2,130		)	30,303
Investments in real estate, net	17,016			—		—			17,016
Investment securities, at fair value	31,151			—		(18,664		)	12,487
Investments in unconsolidated loan manager	37,326			—		—			37,326
Investments in unconsolidated entities	13,518			—		—			13,518
Assets of consolidated VIE - RSO:
Cash and cash equivalents (including restricted cash)	—			269,363		—			269,363
Investments, at fair value	—			247,274		—			247,274
Loans	—			1,686,700		(1,570		)	1,685,130
Investments in real estate and unconsolidated entities	—			138,386		(121		)	138,265
Other assets	—			60,757		(32		)	60,725
Total assets of consolidated VIE - RSO	—			2,402,480		(1,723		)	2,400,757
Property and equipment, net	2,496			—		—			2,496
Deferred tax assets, net	37,292			—		(7,314		)	29,978
Other assets	6,257			—		—			6,257
Total assets	$	191,292		$	2,402,480	$	(29,831	)	$	2,563,941

LIABILITIES AND EQUITY
Liabilities:
Accrued expenses and other liabilities	$	18,827		$	—	$	(198	)	$	18,629
Payables to managed entities and related parties	3,251			—		(32		)	3,219
Borrowings	22,062			—		(1,570		)	20,492
Liabilities of consolidated VIE - RSO:
Borrowings	—			1,558,910		—			1,558,910
Other liabilities	—			66,126		(1,937		)	64,189
Total liabilities of consolidated VIE - RSO	—			1,625,036		(1,937		)	1,623,099
Total liabilities	44,140			1,625,036		(3,737		)	1,665,439

Commitments and contingencies

Equity:
Preferred stock	—			—		—			—
Common stock	299			—		—			299
Additional paid-in capital	287,907			—		—			287,907
Accumulated deficit	(26,076		)	—		(3,006		)	(29,082		)
Treasury stock, at cost	(103,392		)	—		—			(103,392		)
Accumulated other comprehensive (loss) income	(11,764		)	—		9,496			(2,268		)
Total stockholders’ equity	146,974			—		6,490			153,464
Noncontrolling interests	178			—		—			178
Noncontrolling interests attributable to RSO	—			777,444		(32,584		)	744,860
Total equity	147,152			777,444		(26,094		)	898,502
	$	191,292		$	2,402,480	$	(29,831	)	$	2,563,941

The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated statement of operations for the three months ended June 30, 2013 (in thousands) (unaudited):



				Restatement Adjustments
	As Previously Reported			RSO			Eliminations			As Restated
REVENUES:
Real estate	$	12,153		$	—		$	—		$	12,153
Financial fund management	2,445			—			—			2,445
Commercial finance	(35		)	—			—			(35		)
Revenues from consolidated VIE - RSO	—			21,647			—			21,647
Elimination of consolidated revenues attributed to operating segments	—			—			(2,725		)	(2,725		)
	14,563			21,647			(2,725		)	33,485
COSTS AND EXPENSES:
Real estate	8,896			—			—			8,896
Financial fund management	1,694			—			—			1,694
Commercial finance	(219		)	—			—			(219		)
General and administrative	2,153			—			(4		)	2,149
Provision for credit losses	1,647			—			—			1,647
Depreciation and amortization	489			—			—			489
Expenses from consolidated VIE - RSO	—			13,105			(1,737		)	11,368
Elimination of consolidated expenses attributed to operating segments	—			—			(2,663		)	(2,663		)
	14,660			13,105			(4,404		)	23,361
OPERATING (LOSS) INCOME	(97		)	8,542			1,679			10,124

OTHER INCOME (EXPENSE):
Interest expense	(501		)	—			—			(501		)
Other income, net	635			—			(552		)	83
Elimination of consolidated VIE - RSO other income attributable to operating segments	—			—			31			31
	134			—			(521		)	(387		)
Income from continuing operations before taxes	37			8,542			1,158			9,737
Income tax (benefit) provision	(1,511		)	—			1,737			226
Income from continuing operations	1,548			8,542			(579		)	9,511
Loss from discontinued operations, net of tax	—			—			—			—
Net income	1,548			8,542			(579		)	9,511
Net income attributable to noncontrolling interests - RAI	(26		)	—			—			(26		)
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			(1,800		)	(6,572		)	(8,372		)
Net income attributable to common shareholders	$	1,522		$	6,742		$	(7,151	)	$	1,113



			Restatement Adjustments
	As Previously Reported		RSO		Eliminations			As Restated
Amounts attributable to common shareholders:
Income from continuing operations	$	1,522	$	6,742	$	(7,151	)	$	1,113
Discontinued operations	—		—		—			—
Net income	$	1,522	$	6,742	$	(7,151	)	$	1,113

Basic earnings per share:
Continuing operations	$	0.07						$	0.05
Discontinued operations	—							—
Net income	$	0.07						$	0.05
Weighted average shares outstanding	20,297							20,297

Diluted earnings per share:
Continuing operations	$	0.07						$	0.05
Discontinued operations	—							—
Net income	$	0.07						$	0.05
Weighted average shares outstanding	22,106							22,106

The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated statement of operations for the three months ended June 30, 2012 (in thousands) (unaudited):



				Restatement Adjustments
	As Previously Reported			RSO			Eliminations			As Restated
REVENUES:
Real estate	$	10,921		$	—		$	—		$	10,921
Financial fund management	2,991			—			—			2,991
Commercial finance	(128		)	—			—			(128		)
Revenues from consolidated VIE - RSO	—			26,262			—			26,262
Elimination of consolidated revenues attributed to operating segments	—			—			(4,235		)	(4,235		)
	13,784			26,262			(4,235		)	35,811
COSTS AND EXPENSES:
Real estate	7,386			—			—			7,386
Financial fund management	2,994			—			—			2,994
Commercial finance	118			—			—			118
General and administrative	2,567			—			—			2,567
Provision for credit losses	5,698			—			—			5,698
Depreciation and amortization	528			—			—			528
Expenses from consolidated VIE - RSO	—			15,276			(384		)	14,892
Elimination of consolidated expenses attributed to operating segments	—			—			(4,182		)	(4,182		)
	19,291			15,276			(4,566		)	30,001
OPERATING INCOME	(5,507		)	10,986			331			5,810

OTHER INCOME (EXPENSE):
Gain on deconsolidation and sale of subsidiaries	54,682			—			—			54,682
Interest expense	(578		)	—			—			(578		)
Other income, net	362			—			(510		)	(148		)
Other income from consolidated VIE - RSO	—			5,464			—			5,464
Elimination of consolidated VIE other income attributable to operating segments	—			—			34			34
	54,466			5,464			(476		)	59,454
Income from continuing operations before taxes	48,959			16,450			(145		)	65,264
Income tax provision - RSO	—			—			384			384
Income tax provision - RAI	18,665			—			—			18,665
Income from continuing operations	30,294			16,450			(529		)	46,215
Loss from discontinued operations	(14		)	—			—			(14		)
Net income	30,280			16,450			(529		)	46,201
Net income attributable to noncontrolling interests - RAI	(45		)	—			—			(45		)
Net income attributable to noncontrolling interests of consolidated VIE- RSO	—			(25		)	(15,920		)	(15,945		)
Net income attributable to common shareholders	$	30,235		$	16,425		$	(16,449	)	$	30,211



				Restatement Adjustments
	As Previously Reported			RSO		Eliminations			As Restated
Amounts attributable to common shareholders:
Income from continuing operations	$	30,249		$	16,425	$	(16,449	)	$	30,225
Discontinued operations	(14		)	—		—			(14		)
Net income	$	30,235		$	16,425	$	(16,449	)	$	30,211

Basic earnings per share:
Continuing operations	$	1.53							$	1.53
Discontinued operations	—								—
Net income	$	1.53							$	1.53
Weighted average shares outstanding	19,815								19,815

Diluted earnings per share:
Continuing operations	$	1.44							$	1.44
Discontinued operations	—								—
Net income	$	1.44							$	1.44
Weighted average shares outstanding	21,036								21,036

The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of operations for the six months ended June 30, 2013 (in thousands) (unaudited):



	For the Nine Months Ended			For the Three Months Ended			For the Six Months Ended
	June 30, 2013			December 31, 2012			June 30, 2013			Restatement Adjustments
	As Previously Reported			As Previously Reported			As Calculated			RSO		Eliminations			As Restated
REVENUES:
Real estate	$	36,647		$	13,154		$	23,493		$	—	$	—		$	23,493
Financial fund management	9,407			2,675			6,732			—		—			6,732
Commercial finance	(337		)	(124		)	(213		)	—		—			(213		)
Revenues from consolidated VIE - RSO	—			—			—			52,225		—			52,225
Elimination of consolidated revenues attributed to operating segments	—			—			—			—		(5,425		)	(5,425		)
	45,717			15,705			30,012			52,225		(5,425		)	76,812
COSTS AND EXPENSES:
Real estate	26,334			7,998			18,336			—		—			18,336
Financial fund management	5,239			1,017			4,222			—		—			4,222
Commercial finance	(223		)	(49		)	(174		)	—		—			(174		)
General and administrative	6,566			2,256			4,310			—		(8		)	4,302
Provision for credit losses	7,137			5,152			1,985			—		—			1,985
Depreciation and amortization	1,397			492			905			—		—			905
Expenses from consolidated VIE - RSO	—			—			—			27,556					27,556
Elimination of consolidated VIE expenses attributable to operating segments	—			—			—			—		(5,317		)	(5,317		)
	46,450			16,866			29,584			27,556		(5,325		)	51,815
OPERATING (LOSS) INCOME	(733		)	(1,161		)	428			24,669		(100		)	24,997

OTHER INCOME (EXPENSE):
Other-than-temporary impairment on investments	(214		)	—			(214		)	—		—			(214		)
Interest expense	(1,517		)	(522		)	(995		)	—		—			(995		)
Other income, net	1,963			588			1,375			—		(1,103		)	272
Elimination of consolidated VIE - RSO other income attributable to operating segments	—			—			—			—		62			62
	232			66			166			—		(1,041		)	(875		)





	For the Nine Months Ended			For the Three Months Ended			For the Six Months Ended
	June 30, 2013			December 31, 2012			June 30, 2013			Restatement Adjustments
	As Previously Reported			As Previously Reported			As Calculated			RSO			Eliminations			As Restated
(Loss) income from continuing operations before taxes	(501		)	(1,095		)	594			24,669			(1,141		)	24,122
Income tax (benefit) provision	(1,898		)	(241		)	(1,657		)	3,499			—			1,842
Income from continuing operations	1,397			(854		)	2,251			21,170			(1,141		)	22,280
Loss from discontinued operations, net of tax	(8		)	(6		)	(2		)	—			—			(2		)
Net income (loss)	1,389			(860		)	2,249			21,170			(1,141		)	22,278
Net (income) loss attributable to noncontrolling interests - RAI	(570		)	(587		)	17			—			—			17
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			—			—			(20,686		)	—			(20,686		)
Net income (loss) attributable to common shareholders	$	819		$	(1,447	)	$	2,266		$	484		$	(1,141	)	$	1,609

Amounts attributable to common shareholders:
Income (loss) from continuing operations	$	827		$	(1,441	)	$	2,268		$	484		$	(1,141	)	$	1,611
Discontinued operations	(8		)	(6		)	(2		)	—			—			(2		)
Net income (loss)	$	819		$	(1,447	)	$	2,266		$	484		$	(1,141	)	$	1,609

Basic earnings (loss) per share:
Continuing operations	$	0.04		$	(0.07	)	$	0.11								$	0.08
Discontinued operations	—			—			—									—
Net income (loss)	$	0.04		$	(0.07	)	$	0.11								$	0.08
Weighted average shares outstanding	20,165			20,077			20,219									20,219

Diluted earnings (loss) per share:
Continuing operations	$	0.04		$	(0.07	)	$	0.10								$	0.07
Discontinued operations	—			—			—									—
Net income (loss)	$	0.04		$	(0.07	)	$	0.10								$	0.07
Weighted average shares outstanding	21,706			20,077			21,969									21,969



	For the Nine Months Ended			For the Three Months Ended			For the Six Months Ended
	June 30, 2012			December 31, 2011			June 30, 2012			Restatement Adjustments
	As Previously Reported			As Previously Reported			As Calculated			RSO		Eliminations			As Restated
REVENUES:
Real estate	$	29,303		$	8,666		$	20,637		$	—	$	—		$	20,637
Financial fund management	15,874			6,579			9,295			—		—			9,295
Commercial finance	2,051			3,419			(1,368		)	—		—			(1,368		)
Revenues from consolidated VIE - RSO	—			—			—			54,988		—			54,988
Elimination of consolidated revenues attributed to operating segments	—			—			—			—		(7,745		)	(7,745		)
	47,228			18,664			28,564			54,988		(7,745		)	75,807
COSTS AND EXPENSES:
Real estate	21,985			7,192			14,793			—		—			14,793
Financial fund management	13,177			5,804			7,373			—		—			7,373
Commercial finance	2,311			1,963			348			—		—			348
Restructuring expenses	365			—			365			—		—			365
General and administrative	7,930			2,896			5,034			—		—			5,034
Gain on sale of leases and loans	(37		)	(37		)	—			—		—			—
Impairment charges	—			—			—			—		—			—
Provision for credit losses	10,910			2,250			8,660			—		—			8,660
Depreciation and amortization	3,124			2,061			1,063			—		—			1,063
Expenses from consolidated VIE - RSO	—			—			—			26,522					26,522
Elimination of consolidated VIE expenses attributable to operating segments	—			—			—			—		(7,639		)	(7,639		)
	59,765			22,129			37,636			26,522		(7,639		)	56,519
OPERATING (LOSS) INCOME	(12,537		)	(3,465		)	(9,072		)	28,466		(106		)	19,288

OTHER INCOME (EXPENSE):
Gain on deconsolidation and sale of subsidiaries	63,431			8,749			54,682			—		—			54,682
Loss on extinguishment of debt	(2,190		)	(2,190		)	—			—		—			—
Other-than-temporary impairment on investments	(74		)	—			(74		)	—		—			(74		)
Gain on sale of investment securities, net	63			58			5			—		(5		)	—
Interest expense	(4,197		)	(2,974		)	(1,223		)	—		—			(1,223		)
Other income (expense), net	1,546			559			987			—		(1,010		)	(23		)
Other income of consolidated VIE - RSO	—			—			—			5,464		—			5,464
Elimination of consolidated VIE - RSO other income attributable to operating segments	—			—			—			—		67			67
	58,579			4,202			54,377			5,464		(948		)	58,893




	For the Nine Months Ended			For the Three Months Ended			For the Six Months Ended
	June 30, 2012			December 31, 2011			June 30, 2012			Restatement Adjustments
	As Previously Reported			As Previously Reported			As Calculated			RSO			Eliminations			As Restated
Income from continuing operations before taxes	46,042			737			45,305			33,930			(1,054		)	78,181
Income tax provision	17,496			154			17,342			2,999			—			20,341
Income from continuing operations	28,546			583			27,963			30,931			(1,054		)	57,840
Loss from discontinued operations, net of tax	(50		)	(20		)	(30		)	—			—			(30		)
Net income	28,496			563			27,933			30,931			(1,054		)	57,810
Net income attributable to noncontrolling interests - RAI	(384		)	(378		)	(6		)	—			—			(6		)
Net income attributable to noncontrolling interests of consolidated VIE - RSO	—			—			—			(25		)	(29,950		)	(29,975		)
Net income attributable to common shareholders	$	28,112		$	185		$	27,927		$	30,906		$	(31,004	)	$	27,829

Amounts attributable to common shareholders:
Income from continuing operations	$	28,162		$	205		$	27,957		$	30,906		$	(31,004	)	$	27,859
Discontinued operations	(50		)	(20		)	(30		)	—			—			(30		)
Net income	$	28,112		$	185		$	27,927		$	30,906		$	(31,004	)	$	27,829

Basic earnings per share:
Continuing operations	$	1.43		$	0.01		$	1.42								$	1.42
Discontinued operations	—			—			—									—
Net income	$	1.43		$	0.01		$	1.42								$	1.42
Weighted average shares outstanding	19,618			19,641			19,626									19,626

Diluted earnings per share:
Continuing operations	$	1.37		$	0.01		$	1.35								$	1.35
Discontinued operations	—			—			—									—
Net income	$	1.37		$	0.01		$	1.35								$	1.35
Weighted average shares outstanding	20,464			20,039			20,696									20,696

The following sets forth the effect of the restatement on the applicable line items in the Company's consolidated statement of comprehensive income for the three months ended June 30, 2013 (in thousands) (unaudited):



	For the Three Months Ended June 30, 2013			Restatement Adjustments
	As Previously Reported			RSO			Eliminations			As Restated
Net income	$	1,548		$	8,542		$	(579	)	$	9,511

Other comprehensive (loss) income:
Unrealized (losses) gains on investment securities available-for-sale	(765		)	—			780			15
Minimum pension liability - reclassification for losses realized, net of tax	42			—			(2		)	40
Unrealized gains (losses) on hedging contracts, net of tax	3						(1		)	2
Subtotal - activity related to RAI	(720		)	—			777			57
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for gains included in net income	—			(4,498		)	—			(4,498		)
Unrealized gains on available-for-sale securities, net	—			4,699			—			4,699
Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income	—			138			—			138
Unrealized losses on derivatives, net	—			1,330			—			1,330
Subtotal activity related to consolidated VIE - RSO	—			1,669			—			1,669
Subtotal - other comprehensive (loss) income	(720		)	1,669			777			1,726
Comprehensive income	828			10,211			198			11,237
Comprehensive income attributable to noncontrolling interests	(26		)	—			(10,041		)	(10,067		)
Comprehensive income attributable to common shareholders	$	802		$	10,211		$	(9,843	)	$	1,170



	For the Three Months Ended June 30, 2012			Restatement Adjustments
	As Previously Reported			RSO			Eliminations			As Restated
Net income	$	30,280		$	16,450		$	(529	)	$	46,201

Other comprehensive (loss) income:
Unrealized (losses) gains on investment securities available-for-sale	(17		)	—			94			77
Minimum pension liability - reclassification for losses realized, net of tax	46			—			1			47
Unrealized gains (losses) on hedging contracts, net of tax	7						—			7
Subtotal - activity related to RAI	36			—			95			131
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for losses included in net income	—			922			—			922
Unrealized gains on available-for-sale securities, net	—			(2,203		)	—			(2,203		)
Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income	—			55			—			55
Unrealized losses on derivatives, net	—			(266		)	—			(266		)
Subtotal activity related to consolidated VIE - RSO	—			(1,492		)	—			(1,492		)
Subtotal - other comprehensive income (loss)	36			(1,492		)	95			(1,361		)
Comprehensive income	30,316			14,958			(434		)	44,840
Comprehensive income attributable to noncontrolling interests	(45		)	—			(14,453		)	(14,498		)
Comprehensive (loss) income attributable to common shareholders	$	30,271		$	14,958		$	(14,887	)	$	30,342

The following sets forth the effect of both the change in year end and the restatement on the applicable line items in the Company's consolidated statement of comprehensive income for the six months ended June 30, 2013 (in thousands) (unaudited):



	For the Nine Months Ended June 30, 2013			For the Three Months Ended December 31, 2012			For the Six Months Ended June 30, 2013		Restatement Adjustments
	As Previously Reported			As Previously Reported			As Calculated		RSO			Eliminations			As Restated
Net income (loss)	$	1,389		$	(860	)	$	2,249	$	21,170		$	(1,141	)	$	22,278

Other comprehensive (loss) income:
Unrealized losses on investment securities available-for-sale	977			(406		)	1,383		—			(1,719		)	(336		)
Less: reclassification for (gains) losses realized, net of tax	131			—			131		—			—			131
	1,108			(406		)	1,514		—			(1,719		)	(205		)
Minimum pension liability - reclassification for losses realized, net of tax	193			62			131		—			(4		)	127
Unrealized gains (losses) on hedging contracts, net of tax	15			8			7		—			—			7
Subtotal- activity related to RAI	1,316			(336		)	1,652		—			(1,723		)	(71		)
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for losses (gains) included in net income	—			—			—		(5,125		)	—			(5,125		)
Unrealized gains on available-for-sale securities, net	—			—			—		9,922			—			9,922
Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income	—			—			—		193			—			193
Unrealized losses on derivatives, net	—			—			—		1,982			—			1,982
Subtotal activity related to consolidated VIE - RSO	—			—			—		6,972			—			6,972
Subtotal - other comprehensive income (loss)	1,316			(336		)	1,652		6,972			(1,723		)	6,901
Comprehensive income (loss)	2,705			(1,196		)	3,901		28,142			(2,864		)	29,179
Comprehensive (income) loss attributable to noncontrolling interests	(570		)	(587		)	17		—			(27,658		)	(27,641		)
Comprehensive income (loss) attributable to common shareholders	$	2,135		$	(1,783	)	$	3,918	$	28,142		$	(30,522	)	$	1,538



	For the Nine Months Ended June 30, 2012			For the Three Months Ended December 31, 2011			For the Six Months Ended June 30, 2012			Restatement Adjustments
	As Previously Reported			As Previously Reported			As calculated			RSO			Eliminations			As Restated
Net income	$	28,496		$	563		$	27,933		$	30,931		$	(1,054	)	$	57,810

Other comprehensive income (loss):
Unrealized gains (losses) on investment securities available-for-sale	518			985			(467		)	—			435			(32		)
Less: reclassification for losses realized, net of tax	46			—			46			—			—			46
	564			985			(421		)	—			435			14
Minimum pension liability - reclassification for losses realized, net of tax	140			47			93			—			1			94
	140			47			93			—			1			94
Unrealized (losses) gains on hedging contracts, net of tax	(21		)	(129		)	108			—			—			108
Deconsolidation of LEAF - unrealized loss on hedging contracts	255			255			—			—			—			—
	234			126			108			—			—			108
Subtotal - activity related to RAI	938			1,158			(220		)	—			436			216
Activity related to consolidated VIE - RSO:
Reclassifications adjustment for losses included in net income	—			—			—			934			—			934
Unrealized gains on available-for- sale securities, net	—			—			—			8,396			—			8,396
Reclassification adjustments associated with unrealized losses from interest rate hedges included in net income	—			—			—			112			—			112
Unrealized losses on derivatives, net	—			—			—			(360		)	—			(360		)
Subtotal activity related to consolidated VIE - RSO	—			—			—			9,082			—			9,082
Subtotal - other comprehensive income (loss)	938			1,158			(220		)	9,082			436			9,298
Comprehensive income (loss)	29,434			1,721			27,713			40,013			(618		)	67,108
Comprehensive income attributable to noncontrolling interests	(433		)	(427		)	(6		)	—			(39,057		)	(39,063		)
Comprehensive income attributable to common shareholders	$	29,001		$	1,294		$	27,707		$	40,013		$	(39,675	)	$	28,045

The following table presents the consolidated statement of cash flows as originally presented in the June 30, 2013 10-Q for the nine months ended June 30, 2013, less the activity for the three months ended December 31, 2012, in order to derive the activity for the six months ended June 30, 2013 as shown in the column labeled "RAI" in the consolidating statement of cash flows that follows this table (in thousands) (unaudited):



	For the Nine Months Ended June 30, 2013			For the Three Months Ended December 31, 2012						For the Six Months Ended June 30, 2013
	As originally filed			As originally filed			Reclassifications			As Recalculated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	1,389		$	(860	)				$	2,249
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	1,546			550						996
Other-than-temporary impairment on investments	214									214
Provision for credit losses	7,137			5,152						1,985
Unrealized gain on trading securities	(666		)	(164		)				(502		)
Equity in earnings of unconsolidated entities	(2,345		)	(1,201		)				(1,144		)
Distributions from unconsolidated entities	2,577			1,011						1,566
Gain on sale of loans and investment securities, net	(2,023		)	(307		)				(1,716		)
Gain on the sale of assets	(2,454		)	(831		)				(1,623		)
Deferred income tax benefit	(1,898		)	(241		)				(1,657		)
Equity-based compensation issued	815			205						610
Equity-based compensation received	(860		)	(206		)				(654		)
Trading securities purchases and sales, net	(2,446		)	(1,828		)				(618		)
Income from discontinued operations	8			6			—			2
Changes in operating assets and liabilities	(2,659		)	(4,666		)	—			2,007
Net cash (used in) provided by operating activities	(1,665		)	(3,380		)	—			1,715

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(554		)	(80		)				(474		)
Payments received on real estate loans and real estate	2,761			712						2,049
Investments in unconsolidated real estate entities	(2,009		)	(1,012		)				(997		)
Principal payments received on leases and loans	—			3						(3		)
Purchase of loans and investments	(2,845		)	(1,323		)				(1,522		)
Net cash used in in investing activities	(2,647		)	(1,700		)	—			(947		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	2,000			—						2,000
Principal payments on borrowings	(2,472		)	(229		)				(2,243		)
Dividends paid	(1,776		)	(593		)				(1,183		)
Proceeds from issuance of common stock	1,253			—						1,253
Repurchase of common stock	(1,132		)	(1,078		)				(54		)
Increase in restricted cash	—			3			(3		)	—
Other financing activity	81			(150		)	3			228
Net cash (used in) provided by financing activities	(2,046		)	(2,047		)	—			1

CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(862		)	(367		)	—			(495		)
Net cash used in discontinued operations	(862		)	(367		)	—			(495		)

(Decrease) increase in cash	(7,220		)	(7,494		)	—			274
Cash, beginning of year	19,393			19,393			—			11,899
Cash, end of period	$	12,173		$	11,899		$	—		$	12,173

The following table shows the details of the consolidating cash flows of the Company, RSO and eliminations that are included in the consolidated statement of cash flows for the six months ended June 30, 2013 (in thousands) (unaudited):



	RAI			RSO			Eliminations			As presented
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	2,249		$	21,170		$	(1,141	)	$	22,278
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	996			—			—			996
Other-than-temporary impairment on investment securities	214			—			—			214
Provision for credit losses	1,985			—			—			1,985
Unrealized gain on trading securities	(502		)	—			18			(484		)
Equity in earnings of unconsolidated entities	(1,144		)	—			—			(1,144		)
Distributions from unconsolidated entities	1,566			—			—			1,566
Gain on sale of assets	(1,623		)	—			—			(1,623		)
Gain on sale of loans and investment securities, net	(1,716		)	—			—			(1,716		)
Deferred income tax benefit	(1,657		)	—			—			(1,657		)
Equity-based compensation issued	610			—			—			610
Equity-based compensation received	(654		)	—			654			—
Trading securities purchases and sales, net	(618		)	—			—			(618		)
Loss from discontinued operations	2			—			—			2
Changes in operating assets and liabilities	2,007			—			—			2,007
Change in cash attributable to operations of consolidated VIE - RSO	—			(59,314		)	(654		)	(59,968		)
Net cash provided by (used in) operating activities	1,715			(38,144		)	(1,123		)	(37,552		)

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(474		)	—			—			(474		)
Payments received on real estate loans and real estate	2,049			—			—			2,049
Investments in unconsolidated real estate entities	(997		)	—			—			(997		)
Principal payments received on leases and loans	(3		)	—			—			(3		)
Purchase of loans and securities by consolidated VIE - RSO	—			(473,710		)	—			(473,710		)
Principal payments and proceeds from sales received by consolidated VIE - RSO	—			584,563			—			584,563
Cash divested on deconsolidation of LEAF	—			—			—			—
Purchase of loans and investments	(1,522		)	—			—			(1,522		)
Change in restricted cash of consolidated VIE - RSO	—			(5,926		)	—			(5,926		)
Other investing activity of consolidated VIE - RSO	—			(14,022		)	—			(14,022		)
Net cash (used in) provided by in investing activities	(947		)	90,905			—			89,958
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	2,000			—			—			2,000
Principal payments on borrowings	(2,243		)	—			—			(2,243		)
Proceeds from issuance of stock- RAI	1,253			—			—			1,253
Net borrowings (repayments) of debt by consolidated VIE - RSO	—			(182,637		)	—			(182,637		)
Dividends paid	(1,183		)	—			—			(1,183		)
Dividends paid on common stock by consolidated VIE - RSO	—			(43,665		)	1,123			(42,542		)
Net proceeds from issuance of equity by consolidated VIE - RSO	—			179,826			—			179,826
Repurchase of common stock	(54		)	—			—			(54		)
Other financing activity	228			—			—			228
Other financing activity of consolidated VIE - RSO	—			(6,285		)	—			(6,285		)
Net cash provided by (used in) financing activities	1			(52,761		)	1,123			(51,637		)

CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(495		)	—			—			(495		)
Net cash used in discontinued operations	(495		)	—			—			(495		)

Increase in cash	274			—			—			274
Cash, beginning of year	11,899			—			—			11,899
Cash, end of period	$	12,173		$	—		$	—		$	12,173

The following table presents the consolidating statement of cash flows as originally presented in the June 30, 2013 10-Q for the nine months ended June 30, 2012, less the activity for the three months ended December 31, 2011, in order to derive the activity for the six months ended June 30, 2012 as shown in the column labeled "RAI" in the consolidated table presented following the table below (in thousands) (unaudited):



	For the Nine Months Ended June 30, 2012			For the Three Months Ended December 31, 2011						For the Six Months Ended June 30, 2012
	As Previously Reported			As Previously Reported			Adjustments			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	28,496		$	563		$	—		$	27,933
Adjustments to reconcile net income to net cash used operating activities:
Depreciation and amortization	4,280			3,087			—			1,193
Other-than-temporary impairment on investments	74			—			—			74
Provision for credit losses	10,910			2,250			—			8,660
Unrealized gain on trading securities	(175		)	—			—			(175		)
Equity in earnings of unconsolidated entities	(501		)	(557		)	—			56
Distributions from unconsolidated entities	2,741			1,163			—			1,578
Gain on sale of leases and loans	(37		)	(37		)	—			—
Gain on sale of loans and investment securities, net	(79		)	(58		)	—			(21		)
Gain on sale and deconsolidation of subsidiaries	(63,431		)	(8,749		)	—			(54,682		)
Loss on extinguishment of debt	2,190			2,190			—			—
Deferred income tax benefit	17,323			154			—			17,169
Equity-based compensation issued	1,059			498			—			561
Equity-based compensation received	(153		)	—			—			(153		)
Trading securities purchases and sales, net	(3,470		)	—			—			(3,470		)
Loss from discontinued operations	50			—			20			30
Changes in operating assets and liabilities	(4,047		)	(1,412		)	(20		)	(2,615		)
Net cash used in operating activities	(4,770		)	(908		)	—			(3,862		)

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(147		)	(106		)	—			(41		)
Payments received on real estate loans and real estate	1,580			1,550			—			30
Investments in unconsolidated real estate entities	(1,108		)	(127		)	—			(981		)
Purchase of commercial finance assets	(18,483		)	(18,483		)	—			—
Principal payments received on leases and loans	9,041			9,031			—			10
Cash divested on deconsolidation of LEAF	(2,284		)	(2,284		)	—			—
Net proceeds from sale of Apidos and cash divested on deconsolidation	17,864			—			—			17,864
Purchase of loans and investments	(600		)	(600		)	—			—
Proceeds from sale of loan and investments	262			207			—			55
Net cash provided by (used in) in investing activities	6,125			(10,812		)	—			16,937




	For the Nine Months Ended June 30, 2012			For the Three Months Ended December 31, 2011						For the Six Months Ended June 30, 2012
	As Previously Reported			As Previously Reported			Adjustments			As Restated
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings	128,845			128,845			—			—
Principal payments on borrowings	(129,333		)	(123,823		)	—			(5,510		)
Dividends paid	(1,720		)	(569		)	—			(1,151		)
Proceeds from issuance of common stock	1,056			—			—			1,056
Repurchase of common stock	(955		)	(939		)	—			(16		)
Increase in restricted cash	(647		)	(633		)	(31		)	17
Preferred stock dividends paid by LEAF to RSO	(188		)	(188		)	—			—
Other financing activity	(2,275		)	(2,250		)	31			(56		)
Net cash (used in) provided by financing activities	(5,217		)	443			—			(5,660		)

CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(924		)	(375		)	—			(549		)
Net cash used in discontinued operations	(924		)	(375		)	—			(549		)

(Decrease) increase in cash	(4,786		)	(11,652		)	—			6,866
Cash, beginning of period	24,455			24,455			—			12,803
Cash, end of period	$	19,669		$	12,803		$	—		$	19,669

The following table shows the details of the consolidating cash flows of the Company, RSO and eliminations that are included in the Consolidated Statement of Cash Flows for the six months ended June 30, 2012 (in thousands) (unaudited):



	RAI			RSO			Eliminations			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	27,933		$	30,931		$	(1,054	)	$	57,810
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,193			—			—			1,193
Other-than-temporary impairment on investments	74			—			—			74
Provision for credit losses	8,660			—			—			8,660
Unrealized gain on trading securities	(175		)	—			—			(175		)
Equity in losses of unconsolidated entities	56			—			—			56
Distributions from unconsolidated entities	1,578			—			—			1,578
Gain on sale of loans and investment securities, net	(21		)	—			—			(21		)
Gain on sale of subsidiary	(54,682		)	—			—			(54,682		)
Deferred income tax benefit	17,169			—			—			17,169
Equity-based compensation issued	561			613			(613		)	561
Equity-based compensation received	(153		)				153			—
Trading securities purchases and sales, net	(3,470		)	—			—			(3,470		)
Loss from discontinued operations	30			—			—			30
Changes in operating assets and liabilities	(2,615		)	—			—			(2,615		)
Change in cash attributable to operations of consolidated VIE - RSO	—			(7,396		)	460			(6,936		)
Net cash used in operating activities	(3,862		)	24,148			(1,054		)	19,232

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(41		)	—			—			(41		)
Payments received on real estate loans and real estate	30			—			—			30
Investments in unconsolidated real estate entities	(981		)	—			—			(981		)
Principal payments received on leases and loans	10			—			—			10
Purchase of loans and securities by consolidated VIE - RSO	—			(379,707		)	—			(379,707		)
Principal payments and proceeds from sales received by consolidated VIE - RSO	—			358,453			—			358,453
Proceeds from sale of Apidos, net of transaction costs and cash divested on deconsolidation	17,864			—			—			17,864
Proceeds from sale of loans and investment securities	55			—			—			55
Increase in restricted cash - consolidated VIE RSO	—			64,085			—			64,085
Other investing activity of consolidated VIE - RSO	—			3,048			39			3,087
Net cash provided by investing activities	16,937			45,879			39			62,855

CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on borrowings	(5,510		)	—			—			(5,510		)
Net repayments of debt by consolidated VIE - RSO	—			(69,436		)	—			(69,436		)
Dividends paid	(1,151		)	—			—			(1,151		)
Dividends paid on common stock by consolidated VIE - RSO	—			(36,900		)	1,015			(35,885		)
Net proceeds from issuance of equity by consolidated VIE - RSO	—			38,114			—			38,114
Proceeds from issuance of common stock	1,056			—			—			1,056
Repurchase of common stock	(16		)	—			—			(16		)
Other financing activity	(39		)	—			—			(39		)
Other financing activities of consolidated VIE-RSO	—			(1,805		)	—			(1,805		)
Net cash (used in) provided by financing activities	(5,660		)	(70,027		)	1,015			(74,672		)

CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities	(549		)	—			—			(549		)
Net cash used in discontinued operations	(549		)	—			—			(549		)

Increase in cash	6,866			—			—			6,866
Cash, beginning of year	12,803			—			—			12,803
Cash, end of period	$	19,669		$	—		$	—		$	19,669