Arbor realty trust, inc. (ABR)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income

88,526

81,983

80,509

82,171

71,277

73,361

67,500

59,295

51,612

46,044

42,140

34,468

33,525

32,748

29,636

27,969

25,818

27,193

26,025

26,340

27,209

26,654

29,657

25,492

24,911

25,970

25,742

24,329

22,988

20,859

20,030

19,502

19,606

18,762

18,524

18,572

18,007

24,878

25,866

Other interest income, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,539

-

-

-

7,884

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

49,982

48,186

48,064

48,284

41,865

42,999

39,548

37,884

33,387

26,374

23,850

20,411

19,437

20,664

16,966

13,243

12,748

12,314

11,885

11,592

13,927

13,755

12,334

11,222

10,591

10,444

10,645

10,333

10,642

9,824

9,510

9,770

11,761

11,411

11,407

15,792

13,040

15,209

16,177

Net interest income

38,544

33,797

32,445

33,887

29,412

30,362

27,952

21,411

18,225

19,670

18,290

14,057

14,088

12,083

12,669

17,265

13,069

14,878

14,140

22,632

13,282

12,898

17,323

14,269

14,320

15,526

15,097

13,996

12,346

11,034

10,520

9,731

7,845

7,351

7,117

2,780

4,966

9,668

9,689

Other revenue:
Gain on sales, including fee-based services, net

14,305

13,754

21,298

14,211

16,389

18,736

17,451

15,622

18,193

17,672

17,126

18,830

19,171

-

9,693

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage servicing rights

21,934

27,909

29,911

18,709

14,232

36,053

25,216

17,936

19,634

20,639

18,897

17,254

20,030

-

15,968

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Servicing revenue, net

13,302

14,588

13,790

12,612

13,552

11,372

14,244

10,871

9,547

9,287

8,520

6,609

4,794

-

5,885

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property operating income

2,192

1,487

2,237

3,147

2,803

1,570

2,651

2,964

2,910

2,219

2,668

2,863

3,223

2,161

2,960

4,426

5,331

-

7,202

7,201

8,450

5,937

8,443

9,001

9,258

6,022

7,538

8,231

8,334

5,898

7,142

8,109

9,023

2,527

7,202

7,534

4,673

581

815

Loss on derivative instruments, net

-50,731

-

-

-

-2,465

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income, net

1,303

2,164

-4,678

1,393

337

9,735

-3,982

-470

2,878

1,614

778

-821

-886

377

359

214

89

105

51

76

36

118

518

150

858

557

-251

605

1,379

544

334

369

32

98

27

41

21

21

224

Total other revenue

2,305

62,367

62,558

50,072

44,848

77,466

55,580

46,923

53,162

51,431

47,989

44,735

46,332

49,580

34,868

4,641

5,421

4,916

7,254

7,278

8,486

6,056

8,962

9,151

10,116

6,579

7,287

8,837

9,713

6,442

7,477

8,479

9,055

2,625

7,229

7,576

4,695

602

1,039

Other expenses:
Employee compensation and benefits

34,252

28,455

32,861

29,022

31,764

26,386

27,775

26,815

29,494

25,266

25,194

21,825

19,841

15,790

14,216

4,311

4,328

3,366

4,877

4,966

4,290

3,400

3,639

3,552

3,385

2,994

2,995

2,968

3,083

3,005

2,301

2,381

2,484

4,498

2,323

2,285

2,088

1,853

1,995

Selling and administrative

11,052

9,205

10,882

10,481

9,761

9,292

9,994

8,873

8,915

7,601

7,607

7,835

7,695

7,309

5,903

1,719

2,655

1,807

2,063

2,623

2,897

2,093

2,330

3,194

1,982

2,144

3,300

2,969

2,189

2,160

1,870

2,191

1,660

2,251

2,292

1,583

1,197

1,985

2,250

Acquisition costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

6,406

745

3,109

-

1,116

284

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property operating expenses

2,443

2,570

2,563

2,691

2,396

2,342

2,437

2,856

2,796

2,639

2,583

2,622

2,638

2,509

2,819

3,856

4,316

-

6,028

5,967

6,385

6,170

7,266

7,423

6,997

6,558

6,664

7,161

6,343

6,784

6,490

7,363

7,325

4,293

6,681

6,292

2,855

672

1,085

Depreciation and amortization

1,947

1,848

1,841

1,909

1,912

1,914

1,848

1,845

1,846

1,843

1,829

1,816

1,897

1,892

1,808

443

877

1,298

1,250

1,447

1,438

1,595

1,806

2,158

1,811

2,058

1,868

1,827

1,496

1,677

1,427

1,512

1,176

1,237

1,607

1,705

239

247

134

Provision for loss sharing (net of recoveries)

21,537

-

-

-

454

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment loss on real estate owned

-

-

-

1,000

-

-

-

2,000

-

500

0

1,500

1,200

-

-

11,200

-

-

-

-

-

0

0

0

250

-

-

-

-

-

-

-

-

-

-

750

-

-

-

Provision for loss sharing (net of recoveries)

-

-

735

368

-

1,003

2,019

348

473

147

-2,617

532

1,679

-

1,316

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit losses (net of recoveries)

54,382

-

-

-

-

9,319

836

-2,127

325

0

2,000

-1,760

-696

-109

-54

44

-15

2,113

277

1,093

982

-899

1,326

-870

134

215

750

821

2,500

2,362

4,849

7,945

7,789

20,224

10,223

7,560

535

11,347

24,830

Litigation settlement gain

-

-

-

-

-

-

10,170

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other-than-temporary impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,004

Loss on sale and restructuring of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,710

0

0

1,000

-5,363

-825

Management fee - related party

-

-

-

-

-

-

-

-

-

0

0

2,673

4,000

3,725

3,325

2,850

2,700

2,825

2,725

2,675

2,675

2,500

2,450

2,500

2,450

2,500

2,800

2,800

2,800

2,500

2,500

2,500

2,500

2,250

2,050

2,050

1,950

1,900

2,000

Total other expenses

125,613

41,668

48,882

45,471

46,287

50,256

34,739

40,610

43,849

37,996

36,596

37,043

38,254

32,035

35,741

25,169

17,972

18,001

18,338

19,057

18,669

14,859

18,819

17,958

17,011

17,471

18,378

18,549

18,412

18,489

19,439

23,894

22,936

39,465

25,178

21,476

9,866

23,369

40,125

(Loss) income before extinguishment of debt, income from equity affiliates and income taxes

-84,764

54,496

46,121

38,488

27,973

57,572

48,793

27,724

27,538

33,105

29,683

21,749

22,166

29,628

11,796

-3,263

518

-

-

-

-

-

-

-

-

-

-

4,284

3,647

-

-1,442

-5,683

-6,036

-

-

-

-

-

-

Loss from continuing operations before, gain on extinguishment of debt, loss on sale of securities, net, (loss) income from equity affiliates and benefit (provision) for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,832

-11,120

-204

-13,098

-29,396

Loss on extinguishment of debt

-1,954

-7,311

0

0

-128

-

-4,960

-

-

0

0

0

7,116

-

-

-

-

-

-

-

-

-

-

-

-

0

1,167

0

3,763

0

4,144

20,968

5,346

2,958

5,100

1,926

892

11,790

171,032

Income before gain on acceleration of deferred income, loss on termination of swaps, gain on sale of real estate, gain on sale of equity interests, incentive management fee, income from equity affiliates and provision for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,056

10,853

3,098

4,095

7,466

5,462

7,425

-

4,005

-

-

-

-

-

-

-

-

-

-

-

-

Gain on acceleration of deferred income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

8,162

0

11,009

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on termination of swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0

-340

0

-4,289

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11,023

607

3,799

0

0

3,984

-

-199

-

-

-

-

-

-

466

0

0

3,487

-

-

-

-

-

-

Gain on sale of equity interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

77,123

7,851

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Incentive management fee - equity interest - related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19,047

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sale of securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,293

Income from equity affiliates

3,992

1,502

3,718

3,264

2,151

91

-1,028

1,387

746

-4,707

996

-3

763

1,801

4,929

4,367

1,897

1,317

6,353

1,534

3,095

219

-51

40

40

40

-81

-81

-81

2

-225

-224

-250

-94

3,717

24

24

25

-27

Income before benefit from income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,010

2,477

15,060

-940

-26,624

-2,014

-9,169

712

-1,282

-

(Loss) income before provision for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

131,315

Benefit for income taxes

-14,370

4,073

6,623

4,350

-10

8,635

5,381

4,499

-8,784

-2,885

6,708

3,435

6,101

-

300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-275

275

600

-1,401

-

-

-

-

-

1,800

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,328

-735

2,202

14,460

460

-26,624

-2,014

-9,169

712

-1,282

129,515

Income from operations of real estate held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55

-87

1,138

267

-403

-373

-381

-391

-71

-

Net (loss) income

-68,356

44,614

43,216

37,402

30,006

48,947

37,424

24,612

37,068

31,283

23,971

18,311

23,944

30,904

16,426

12,126

3,023

-

17,232

-

-

-

-

-

7,465

-

5,091

4,202

7,227

-213

2,114

15,599

4,215

-27,727

-2,388

-10,300

320

-1,353

129,141

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-101

522

-87

1,138

3,754

-1,103

-373

-1,131

-391

-71

-373

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,387

16,898

-

65,290

13,354

-

-

-

-

-

-

-

-

-

-

-

-

-

-

129,087

Preferred stock dividends

1,888

1,890

1,888

1,888

1,888

1,890

1,888

1,888

1,888

1,890

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,888

1,590

1,410

1,410

1,152

533

-

-

-

-

-

-

-

-

-

-

Net (loss) income attributable to noncontrolling interest

-10,934

7,181

7,363

6,598

5,468

9,838

7,799

5,557

8,991

7,522

5,662

4,494

6,442

-

3,649

-

-

-

-

-

-

-

-

-

-

0

16

53

53

53

53

53

53

54

54

53

53

54

53

Net (loss) attributable to common stockholders

-59,310

35,543

33,965

28,916

22,650

37,219

27,737

17,167

26,189

21,871

16,421

11,929

15,614

20,534

10,888

10,238

1,134

5,022

15,343

10,498

15,010

5,049

63,402

11,466

5,874

3,367

3,664

2,995

6,640

-267

2,060

15,546

4,161

-27,781

-2,442

-10,354

267

-1,408

-

Basic earnings per common share:
Income from continuing operations, net of noncontrolling interest and preferred stock dividends (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.20

-0.06

0.07

0.57

0.02

-1.06

-0.09

-0.37

0.03

-0.05

5.08

Income from discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.02

-0.02

0.05

0.15

-0.05

-0.01

-0.04

-0.02

-0.01

-0.01

Basic (loss) earnings per common share (in dollars per share)

-0.54

0.35

0.36

0.32

0.27

0.49

0.37

0.26

0.42

0.36

0.27

0.21

0.30

0.40

0.21

0.20

0.02

0.09

0.30

0.21

0.30

0.10

1.26

0.23

0.12

0.04

0.08

0.07

0.20

-0.06

0.07

0.62

0.17

-1.11

-0.10

-0.41

0.01

-0.06

5.07

Diluted earnings per common share:
Income from continuing operations, net of noncontrolling interest and preferred stock dividends (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.19

-0.07

0.07

0.57

0.02

-1.06

-0.09

-0.37

0.03

-0.05

5.06

Income from discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.02

-0.02

0.05

0.15

-0.05

-0.01

-0.04

-0.02

-0.01

-0.01

Diluted (loss) earnings per common share (in dollars per share)

-0.54

0.35

0.35

0.31

0.26

0.47

0.36

0.25

0.42

0.35

0.26

0.21

0.30

0.40

0.21

0.20

0.02

0.09

0.30

0.21

0.30

0.09

1.26

0.23

0.12

0.05

0.08

0.07

0.19

-0.07

0.07

0.62

0.17

-1.11

-0.10

-0.41

0.01

-0.06

5.05

Weighted average shares outstanding:
Basic (in shares)

110,792

101,810

94,486

89,955

85,151

78,504

74,802

65,683

61,842

61,866

61,582

56,652

51,461

51,403

51,390

51,381

51,045

50,968

50,962

50,955

50,544

50,493

50,477

50,267

49,336

49,316

43,397

43,113

33,771

30,920

27,749

24,977

24,180

24,234

25,239

25,440

24,961

25,477

25,477

Diluted (in shares)

131,217

125,809

117,468

113,624

107,869

101,377

98,435

90,055

84,699

84,532

83,918

79,064

73,730

33,813

70,271

51,741

51,095

51,278

50,962

50,955

50,832

50,541

50,477

50,701

49,752

49,716

43,832

43,555

34,236

31,195

28,038

25,267

24,344

23,409

25,239

25,440

25,785

25,477

25,574

Dividends declared per common share (in dollars per share)

0.30

-

0.29

0.28

0.27

-

0.25

0.25

0.21

-

0.18

0.18

0.17

-

0.16

0.15

0.15

-

0.15

0.15

0.13

-

0.13

0.13

0.13

-

0.13

0.12

0.12

-

0.10

0.07

-

-

-

-

-

0.00

-