Arbor realty trust, inc. (ABR)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating activities:
Net (loss) income

155,238

148,051

97,509

62,481

53,429

93,048

21,298

21,716

-40,096

113,125

-211,958

Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization

7,510

7,453

7,385

5,022

5,436

7,371

7,250

5,904

5,951

570

755

Stock-based compensation

9,514

6,095

4,840

3,514

3,443

1,989

1,600

578

1,407

310

2,414

Amortization and accretion of interest and fees, net

5,045

9,291

4,682

4,563

1,575

-185

-

-

-

-

-

Amortization of capitalized mortgage servicing rights

48,681

48,124

47,202

21,705

-

-

-

-

-

-

-

Impairment loss on real estate owned

1,000

2,000

3,200

11,200

-

250

1,000

-

1,450

-

4,898

Originations of loans held-for-sale

4,564,032

5,074,662

4,444,939

2,154,732

-

-

-

-

-

-

-

Proceeds from sales of loans held-for-sale, net of gain on sale

4,189,787

4,893,886

4,814,906

1,916,470

-

-

-

-

-

-

-

Mortgage servicing rights

90,761

98,839

76,820

44,941

-

-

-

-

-

-

-

Write-off of capitalized mortgage servicing rights from payoffs

22,425

25,058

15,832

5,796

-

-

-

-

-

-

-

Provision for credit losses (net of recoveries)

-

8,353

-456

-134

4,467

-308

4,287

22,946

38,542

82,811

241,328

Provision for loss sharing (net of recoveries)

1,147

3,843

-259

2,235

-

-

-

-

-

-

-

(Charge-offs) recoveries for loss-sharing obligations, net

797

56

1,638

2,444

-

-

-

-

-

-

-

Other-than-temporary impairment

-

-

-

-

-

-

-

-

-

7,004

10,260

Gain on sale of securities

-

-

-

-

-

86,312

1,100

-

-

-6,989

-

Incentive compensation to manager-related party

-

-

-

-

-

-

-

-

-

18,765

-

Deferred tax benefit

150

-12,033

-7,399

-

-

-

-

-

-

1,710

-

Loss on sale and restructuring of loans

-

-

-

-

-

-

-

-

-4,710

-7,214

-57,579

Amortization and accretion of interest, fees and intangible assets, net

-

-

-

-

-

-

-3,127

1,634

10,167

8,093

6,939

Income from equity affiliates

10,635

1,196

-2,951

12,995

12,301

248

-204

-697

3,671

-1,259

-438

Reversal of liabilities related to discontinued operations

-

-

-

-

-

-

-

1,175

-

-

-

Gain on exchange of profits interest

-

-

-

-

-

-

-

-

-

-

55,988

Loss on extinguishment of debt

-7,439

-5,041

7,116

-

-

-

4,930

30,459

10,878

229,321

54,080

Payoffs and paydowns of loans held-for-sale

84

61

132

-

-

-

-

-

-

-

20,500

Gain on sale of real estate

-

-

-

11,631

7,784

1,603

-

3,953

-

1,331

-

Change in fair value of non-qualifying swaps and linked transactions

-

-

-

-

-

41

-1,798

-1,334

246

-684

-5,190

Loss on termination of swaps

-

-

-

-

-4,630

-

-

-

-

-

-8,729

Gain on acceleration of deferred income

-

-

-

-

19,172

-

-

-

-

-

-

Incentive management fee - equity interest - related party

-

-

-

-

-

19,047

-

-

-

-

-

Changes in operating assets and liabilities

8,332

8,205

308

4,624

-2,535

2,212

5,759

-942

-

-

-

Changes in operating assets and liabilities:
Other assets

-

-

-

-

-

-

-

-

964

-491

-26,596

Distributions of operations from equity affiliates

-

-

-

-

-

-

-

-

96

67

9,879

Other liabilities

-

-

-

-

-

-

-

-

3,324

985

-10,700

Change in restricted cash

-

-

-

-

-

-

-

-

-576

-

-

Due to/from related party

-

-

-

-

-

-

-

-

10,761

-942

-4,280

Net cash (used in) provided by operating activities

-226,537

-37,735

459,704

-198,515

36,258

30,795

22,522

20,166

-389

20,375

46,563

Investing Activities:
Loans and investments funded, originated and purchased, net

2,712,354

1,545,499

1,867,393

870,166

985,008

908,769

594,127

261,875

219,608

33,098

8,569

Payoffs and paydowns of loans and investments

1,753,691

960,769

959,696

667,902

985,789

987,700

378,738

-185,675

-157,753

-182,727

-123,759

Internalization of management team

-

-

25,000

-

-

-

-

-

-

-

-

Acquisition of the Agency Business, net of cash acquired

-

-

-

63,356

-

-

-

-

-

-

-

Deferred fees

22,340

13,114

10,982

11,938

4,876

5,687

5,305

3,062

2,860

527

2,851

Change in restricted cash

-

-

-

-

-

-

-

-

1,050

-

-

Principal collection on available-for-sale securities

-

-

-

-

-

-

-

-

-

172

-

Proceeds from sale of securities held-to-maturity, net

-

-

-

-

-

-

-

-

-

14,370

-

Investments in real estate, net

475

367

672

588

2,224

4,714

8,004

4,206

1,388

-12

59

Contributions to equity affiliates

13,522

2,493

693

6,091

19,324

526

-

257

793

2,720

295

Purchases of available-for-sale securities

-

-

-

-

-

-

-

-

-

2,122

-

Purchases of securities held-to-maturity, net

20,000

47,499

27,173

-

-

-

-

-

36,464

4,481

12,412

Payoffs and paydowns of securities held-to-maturity

12,488

2,269

460

-

-

-

-

-

-

-

-

Distributions from equity affiliates

213

3,122

4,671

12,452

-

9,094

62

330

4,536

435

2,614

Proceeds from investments in real estate, net

-

-

-

-

-

-

-

-

1,497

-

-

Proceeds from sale of real estate, net

-

-

-

49,030

40,077

21,912

-

26,443

1,600

6,826

-

Proceeds from sale of available-for-sale securities

-

-

-

1,567

-

33,904

2,100

-

-

36,308

-

Proceeds from sale of loans

-

-

-

-

-

-

4,424

17,945

45,590

39,500

32,050

Due to borrowers and reserves

37,121

65,213

-38,372

-395

-

-

585

505

1,397

217

8,574

Purchases of capitalized mortgage servicing rights

-

-

1,199

-

-

-

-

-

-

-

-

(Distributions of) proceeds from insurance settlements, net

-

-78

1,104

-

-

-

-

-

-

-

-

Purchases of securities, net

-

-

-

-

1,552

-

29,024

69,041

-

-

-

Principal collection on securities, net

-

-

-

-

2,100

663

38,614

55,895

6,515

99

2,710

Redemption of investment in preferred shares, net

-

-

-

-

-

-

2,418

-

-

-

-

Net cash used in investing activities

-994,740

-681,875

-906,845

-196,917

24,734

144,951

-200,076

-46,533

-40,348

238,339

154,573

Financing activities:
Proceeds from repurchase agreements and credit facilities

8,986,286

9,166,255

8,215,669

3,922,394

593,878

402,080

235,145

162,922

110,763

26,000

33,878

Paydowns and payoffs of repurchase agreements and credit facilities

8,443,275

8,559,057

8,593,411

3,571,929

636,940

382,019

205,482

108,366

4,848

192,010

215,375

Proceeds from issuance of collateralized loan obligations

1,067,193

441,000

918,274

250,250

486,750

-

-

-

-

-

-

Payoffs and paydowns of collateralized loan obligations

529,250

267,750

219,000

281,250

177,000

87,500

-

-

-

-

-

Distributions paid to noncontrolling interest

-

-

-

-

-

-

175

217

281

156

221

Proceeds from issuance of common stock

260,383

156,417

76,225

-

-

6,800

134,176

39,200

-

-

-

Proceeds from issuance of convertible senior unsecured notes

264,000

264,500

157,500

86,250

-

-

-

-

-

-

-

Proceeds from senior unsecured notes

-

-

-

-

-

97,860

-

-

-

-

-

Proceeds from collateralized loan obligations

-

-

-

-

-

-

177,000

87,500

-

-

-

Payoffs and paydowns of collateralized debt obligations

-

-

-

-

312,071

307,482

167,154

158,956

64,413

55,040

-21,307

Settlements of convertible senior unsecured notes

231,940

228,287

-

-

-

-

-

-

-

-

-

Proceeds from issuance of senior unsecured notes

200,000

125,000

-

-

-

-

-

-

-

-

-

Redemption of operating partnership units

1,674

6,845

-

-

-

-

-

-

-

-

-

Payoffs of senior unsecured notes

-

97,860

-

-

-

-

-

-

-

-

-

Payments of withholding taxes on net settlement of vested stock

3,634

-

-

-

-

-

-

-

-

-

-

Payments on financial instruments underlying linked transactions

-

-

-

-

-

59,613

165,385

91,346

-

-

-

Receipts on financial instruments underlying linked transactions

-

-

-

-

-

66,027

175,181

-80,645

-

-

-

Payments on swaps and margin calls to counterparties

-

-

-

-

290

2,032

75,139

61,541

15,930

24,350

70,320

Repurchase of common stock

11,574

10,066

-

-

-

-

-

684

5,746

-

-

Distributions paid on common stock

107,846

68,083

42,612

31,798

29,495

26,029

21,326

8,031

-

-

-

Distributions paid on noncontrolling interest

23,387

20,650

15,286

6,794

-

-

-

-

-

-

-

Distributions paid on preferred stock

7,554

7,554

7,554

7,554

7,554

7,096

4,036

-

-

14

14

Distributions paid on preferred stock of private REIT

15

14

15

15

14

14

14

-

-

-

-

Paydowns and payoffs of mortgage note payable - real estate owned

-

-

-

27,155

30,984

22,766

-

20,750

1,600

-

-

Proceeds from mortgage note payable - real estate owned

-

-

-

-

27,155

-

-

-

-

-

-

Payoffs of related party financing

-

50,000

-

-

-

-

-

-

-

-

4,200

Cancellation of warrants

-

-

-

-

-

2,602

-

-

-

-

-

Payment of deferred financing costs

26,543

20,499

24,576

10,617

10,776

10,573

5,037

2,819

731

453

4,647

Proceeds from debt fund

-

-

70,000

-

-

281,250

-

-

7,800

5,500

-

Payoffs of junior subordinated notes to subsidiary trust issuing preferred securities

-

-

12,691

-

-

-

-

-

-

-10,500

-1,265

Proceeds from collateralized debt obligations

-

-

-

-

-

-

-

-

-

-

500

Change in restricted cash

-

-

-

-

-

-162,354

-12,514

23,820

-45,425

6,849

65,283

Receipts on swaps and returns of margin calls from counterparties

-

-

430

4,600

4,840

8,993

80,653

61,478

15,280

21,960

80,345

Expenses paid on issuance of common stock

-

-

-

-

-

285

4,788

2,520

-

-

-

Proceeds from issuance of preferred stock

-

-

-

-

-

22,500

70,287

-

-

-

-

Expenses paid on issuance of preferred stock

-

-

-

-

-

858

2,632

-

-

-

-

Net cash provided by (used in) financing activities

1,391,170

816,507

522,953

326,382

-92,501

-185,719

208,755

320

-5,149

-222,215

-137,344

Net increase in cash, cash equivalents and restricted cash

169,893

96,897

75,812

-69,050

-31,509

-9,971

31,200

-26,047

-45,888

36,500

63,792

Supplemental cash flow information:
Cash used to pay interest

167,581

118,923

75,582

53,012

43,939

42,756

46,717

38,566

41,559

51,625

58,428

Cash used to pay taxes

19,611

20,026

20,823

264

287

80

462

1,159

161

930

-354

Supplemental schedule of non-cash investing and financing activities:
Issuance of common stock from convertible debt

69,232

80,118

-

-

-

-

-

-

-

-

-

Extinguishment of convertible senior unsecured notes

69,510

70,271

-

-

-

-

-

-

-

-

-

Special dividend - common stock issued

10,079

-

-

-

-

-

-

-

-

-

-

Special dividend - special voting preferred stock and operating partnership units issued

2,478

-

-

-

-

-

-

-

-

-

-

Redemption of operating partnership units for common stock

2,939

-

-

-

-

-

-

-

-

-

-

Loans converted to real estate owned, net

-

-

-

-

-

-

-

-

83,099

-

8,525

Investment in real estate, net

-

-

-

-

-

-

-

-

55,351

20,750

-

Assumption of mortgage notes payable - real estate owned

-

-

-

-

-

-

-

-

55,351

20,750

-

Issuance of special voting preferred shares and operating partnership units in connection with the Acquisition

-

-

-

154,772

-

-

-

-

3,974

-

-

Related party financing

-

-

-

50,000

-

-

-

-

-

-

-

Investments transferred from real estate owned, net to real estate held-for-sale, net

-

-

-

-

26,186

2,904

11,540

-

-

-

-

Loan transferred to real estate owned, net

-

-

-

-

5,900

-

-

-

-

-

-

Transfer of real estate held-for-sale to first lien holder

-

-

-

-

-

-

-

41,440

-

-

-

Release of mortgage note payable held-for-sale

-

-

-

-

-

-

-

41,440

-

-

-

Satisfaction of participation loan

-

-

-

-

1,300

-

-

34,000

-

-

-

Retirement of participation liability

-

-

-

-

1,300

-

-

34,000

-

-

-

Reclassification of deferred financing costs from other assets to debt

-

-

-

-

17,429

13,928

9,089

-

-

-

-

Mortgage note payable - real estate held-for-sale, net transferred to real estate owned, net

-

-

-

-

-

1,886

11,005

-

-

-

-

Investment transferred to real estate held-for-sale, net

-

-

-

-

-

-

-

-

22,094

5,537

41,440

Accrued and unpaid expenses on common stock offerings

-

-

-

-

-

-

26

-

-

-

-

Accrued and unpaid expenses on CLO offering

-

-

-

-

-

-

500

-

-

-

-

Extinguishment of notes payable

-

-

-

-

-

-

-

-

-

159,417

-

Extinguishment of trust preferred securities

-

-

-

-

-

-

-

-

-

102,110

-

Re-issuance of CDO debt

-

-

-

-

-

-

-

-

-

42,304

-

Accrual of interest on reissued collateralized debt obligations

-

-

-

-

-

-

-

-

-

22,941

-

Available-for-sale securities exchanged

-

-

-

-

-

-

-

-

-

400

-

Transfer of held to maturity securities, net of available for sale, net

-

-

-

-

-

-

34,049

-

-

35,814

400

Satisfaction of notes payable from real estate partnership

-

-

-

-

-

-

33,438

-

-

-

-

Redemption of preferred investment from real estate partnership

-

-

-

-

-

-

33,438

-

-

-

-

Deconsolidation of assets from real estate partnership

-

-

-

-

-

-

18,662

-

-

-

-

Deconsolidation of liabilities from real estate partnership

-

-

-

-

-

-

16,781

-

-

-

-

Deconsolidation of noncontrolling interest from real estate partnership

-

-

-

-

-

-

1,880

-

-

-

-

Loan converted to other assets

-

-

-

-

-

-

6,000

-

-

-

-

Acquisition of tangible asset through restructure of loan

-

-

-

-

-

-

-

-

1,885

-

-

Unearned discounts recorded on restructured loans

-

-

-

-

-

-

-

-

-

7,658

-

Repayment of due from related party through acquisition of treasury stock

-

-

-

-

-

-

-

-

-

3,646

-

Repayment of due from related party through reduction of due to related party

-

-

-

-

-

-

-

-

-

3,646

-

Loan origination

-

-

-

-

-

-

-

-

-

-

500

Margin calls applied to repurchase agreements

-

-

-

-

-

-

-

-

-

-

4,845

Termination of swaps

-

-

-

-

-

-

-

-

-

-

17,034

Retirement of common equity in trust preferred securities

-

-

-

-

-

-

-

-

-

-

7,727

Collateral on swaps to hedge counterparties

-

-

-

-

-

-

-

-

-

-

-3,500

Issuance of warrants

-

-

-

-

-

-

-

-

-

-

643

Loan paydowns received by related party

-

-

-

-

-

-

-

-

-

-

6,990

Reclassification from due to borrowers to loans

-

-

-

-

-

-

-

-

-

-

20,684

8.25% Series A preferred stock
Distributions accrued on preferred stock

267

267

267

267

-

-

-

-

-

-

-

7.75% Series B preferred stock
Distributions accrued on preferred stock

203

203

203

203

-

-

-

-

-

-

-

8.50% Series C preferred stock
Distributions accrued on preferred stock

159

159

159

159

-

-

-

-

-

-

-