XML 35 R86.htm IDEA: XBRL DOCUMENT v3.3.0.814
VARIABLE INTEREST ENTITIES RSO Income Statement Detail (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Interest expense $ 450 $ 467 $ 1,326 $ 1,447
Rental income 1,400 1,300 4,400 3,800
Total revenues 40,677 41,504 128,862 126,455
COSTS AND EXPENSES:        
General and administrative - Corporate 4,053 2,426 11,531 8,309
Depreciation and amortization 504 453 1,476 1,369
Total operating expenses 15,994      
OTHER INCOME (EXPENSE)        
Equity in (losses) earnings of unconsolidated entities 827 620 5,149 2,298
Other Nonoperating Income (Expense) 4,562 3,423 26,475 16,811
Other income, net, from consolidated VIE - RSO 4,562 3,423 26,475 16,811
Income tax (expense) benefit - RSO 441 (1,504) (6,425) (4,324)
NET INCOME (LOSS) (1,100) 1,516 (2,417) 5,224
RSO [Member]        
Interest income:        
Loans 33,502 27,026 95,924 73,474
Securities 4,866 5,168 14,418 12,563
Leases (8) 0 250 0
Interest income − other 968 1,647 2,919 5,481
Total interest income 39,328 33,841 113,511 91,518
Interest expense 16,906 11,508 47,611 31,746
Net interest income 22,422 22,333 65,900 59,772
Rental income 0 1,118 0 7,777
Dividend income 17 16 50 169
Fee income 1,266 2,344 6,317 7,166
Total revenues 23,705 25,811 72,267 74,884
COSTS AND EXPENSES:        
Management fees − related party 3,252 3,606 10,312 10,000
Equity compensation − related party (225) 798 1,561 4,497
Rental operating expense 0 695 6 5,168
Lease operating (33) 0 14 0
General and administrative - Corporate 4,372 3,716 13,222 11,305
General and administrative - PCM 6,966 4,631 20,767 12,196
Depreciation and amortization 628 562 1,814 2,158
Impairment losses 0 0 59 0
Provision (recovery) for loan losses 1,034 1,439 43,834 (1,739)
Total operating expenses 15,994 15,447 91,589 43,585
Adjusted operating income 7,711 10,364 (19,322) 31,299
OTHER INCOME (EXPENSE)        
Equity in (losses) earnings of unconsolidated entities 334 887 1,702 4,663
Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives 5,812 4,226 29,980 7,962
Net realized and unrealized gains (loss) on investment securities, trading (580) 376 1,773 (1,834)
Unrealized gain (loss) and net interest income on linked transactions, net 0 177 235 7,494
(Loss) on reissuance/gain on extinguishment of debt (332) (1,867) (1,403) (2,469)
(Loss) gain on sale of real estate (19) (69) (19) 2,973
Other Nonoperating Income (Expense) 0 0 0 (1,262)
Other income, net, from consolidated VIE - RSO 5,215 3,730 32,268 17,527
Income from continuing operations 12,926 14,094 12,946 48,826
Income tax (expense) benefit - RSO 1,796 237 (2,969) 667
NET INCOME (LOSS) 14,722 14,331 9,977 49,493
Net (loss) income allocated to preferred shares (6,115) (5,545) (18,322) (11,303)
Net Income (Loss) Attributable to Noncontrolling Interest 1,829 1,458 6,486 1,069
NET INCOME (LOSS) ALLOCABLE TO RSO COMMON SHAREHOLDERS $ 6,778 $ 7,328 $ (14,831) $ 37,121