Great ajax corp. (AJX)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income

1,496

7,119

8,223

13,626

8,121

7,307

7,495

8,213

8,322

6,638

7,716

7,102

8,698

6,164

7,886

6,861

7,963

8,393

7,925

5,659

3,815

Adjustments to reconcile net income to net cash from operating activities
Stock-based management fee and compensation expense

214

260

1,232

1,083

1,029

1,020

964

1,020

985

999

917

808

523

-

-

-

254

255

234

498

423

Non-cash interest income accretion

9,450

8,839

9,177

10,206

10,891

11,106

11,440

11,286

9,917

11,360

11,126

11,053

9,840

-237

18,704

11,707

9,004

9,928

9,158

7,622

4,228

Discount accretion on investment in debt securities and beneficial interests

2,794

8,425

-900

4,401

1,155

656

43

41

43

42

42

39

72

-

-

-

-

-

-

-

-

Loss on sale of mortgage loans

-700

0

-14

7,014

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on debt extinguishment

-408

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discount accretion on investment in debt securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Gain on sale of property held-for-sale

286

228

280

18

103

116

-271

-47

582

336

-52

113

109

-212

-768

541

545

329

140

-7

-2

Gain on sale of securities

0

0

0

0

8

347

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation of property

8

132

138

123

106

61

40

32

22

24

24

23

9

3

6

6

5

2

0

0

1

Impairment of real estate owned

897

413

690

526

475

651

897

744

408

489

1,118

600

309

1,324

487

155

45

-

-

-

-

Provision for credit losses on mortgage loans

2,122

603

-39

85

154

799

365

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit losses on beneficial interests

2,987

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and prepaid financing costs

1,316

1,706

1,353

1,376

1,281

1,310

2,177

1,543

1,348

2,245

1,515

1,506

1,200

2,210

1,734

1,730

1,159

855

556

369

66

Undistributed loss/(income) from investment in affiliates

-1,112

31

583

257

461

134

53

383

192

164

158

246

139

142

157

137

122

140

135

152

123

Net change in operating assets and liabilities
Cash held in trust

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

20

Prepaid expenses and other assets

28,878

1,489

1,490

-1,222

798

-4,498

4,953

3,796

-1,504

776

-214

1,776

205

-3,682

2,825

-1,174

1,695

-1,214

2,706

2,776

410

Receivable from servicer

278

-365

-1,285

-279

4,160

1,612

-3,432

-2,002

1,751

4,192

-2,854

2,372

1,377

3,334

2,198

-1,159

2,664

-1,014

2,920

1,801

397

Accrued expenses, management fee payable, and other liabilities

12

-32

1,009

-1,513

1,366

994

484

512

-819

629

1,585

-415

-566

1,655

-1,232

194

1,499

-1,402

620

61

1,624

Net cash from operating activities

-30,409

-4,266

-1,028

-5,089

-5,044

2,797

-492

-1,393

-715

-5,846

4,669

-5,949

-1,569

-

-

-

-

-

-

-

-

CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-13,917

-846

-3,105

-

-5,683

-5,778

753

Purchase of mortgage loan pools and related balances

185

11,831

416

90,694

7,205

67,283

65,859

14,313

17,566

219,202

22,548

211,872

5,572

129,480

215,524

52,123

37,205

46,725

66,753

159,518

74,108

Acquisition of commercial loans

1,206

591

0

656

17,793

1,190

5,100

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal paydowns on mortgage loans

34,597

30,684

40,417

34,830

28,765

36,853

37,004

38,150

30,100

30,097

28,776

27,095

21,306

9,289

25,504

12,575

11,020

9,960

9,180

4,991

2,269

Principal paydowns on debt securities held as investments

10,233

-

-

-

11,941

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of mortgage loans

25,412

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal paydowns on debt securities held as investments

-

-

-

-

-

-

961

3,695

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of mortgage loans

25,412

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Draws on small balance commercial loans

-

-

-

-

-

267

-267

150

117

-

-

0

0

-

-

-

-

-

-

-

-

Loans purchase deposit refund

-

-

-

-

-

-

0

0

50

-

0

0

0

-

-

-

-

-

-

-

-

Purchase of securities

61,306

60,273

43,402

20,136

64,014

126,526

20,320

29,517

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of securities

0

0

-35

35

39,600

8,073

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of rental property

0

5,249

17,675

2,300

2,300

9,489

2,433

0

3,463

0

0

0

0

-

-

-

-

-

-

-

-

Purchase of property held-for-sale and related balances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

94

132

2,662

Proceeds from sale of property held-for-sale

3,017

4,113

5,313

2,879

5,131

4,689

4,179

3,957

4,807

5,221

3,473

8,449

0

2,443

1,454

2,861

2,359

1,648

724

321

36

Renovations of rental property

0

-

-

-

77

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of mortgage loans

-

-

-

-

-

-

-

-

-

-

-

-

4,171

-

-

-

-

-

-

-

-

Renovations of rental property

-

-

-

-

-

-

-98

362

0

-

-

-

-

-

-

-

-

-

-

-

-

Investment in Great Ajax FS LLC, including warrants

-

-

-

-

-

-

0

678

1,072

-

0

0

0

-1,111

0

0

1,111

-

-

-

-

Distribution from affiliates

453

413

241

320

170

180

233

229

185

224

55

2,708

68

136

134

47

48

47

48

47

20

Renovations of rental property and property held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

238

240

-

95

97

42

Net cash from investing activities

11,015

-7,783

-4,578

118,121

-5,593

-153,262

-50,970

1,011

12,824

-185,701

-2,401

-177,791

19,973

-

-

-

-

-

-

-

-

CASH FLOWS FROM FINANCING ACTIVITIES
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-114,457

-36,878

-25,129

-

-56,990

-154,388

-74,487

Proceeds from repurchase transactions

72,417

124,389

50,774

79,935

67,463

129,000

139,528

29,285

13,315

506,077

17,786

66,772

34

126,271

151,245

37,627

33,459

-

-

-

-

Repayments on repurchase transactions

55,440

145,437

168,572

84,880

45,483

15,372

14,722

4,764

18,566

488,194

5,166

44,184

4,677

18,063

134,253

71,883

1,496

68,818

72,161

15,089

197

Repayments on secured borrowings

22,599

105,481

30,380

87,436

17,837

21,745

169,490

30,511

32,431

89,898

27,469

45,293

15,455

76,030

13,812

13,644

5,777

-4,884

20,239

1,826

1,717

Deferred financing costs

34

1,893

2,666

0

0

420

2,132

0

83

4,699

174

2,352

0

-

-

-

-

-

-

-

-

Repurchase of senior convertible notes

8,176

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sale of common stock, net of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-121

0

0

51,529

Sale of common stock pursuant to dividend reinvestment plan

0

74

70

64

72

59

55

33

52

51

50

40

33

-

-

-

0

-

-

-

-

Distribution to non-controlling interests

84

74

121

432

162

236

255

785

2,067

247

187

175

157

157

156

155

150

150

137

112

101

Issuance of stock from subsidiary

145

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on common stock

0

6,860

6,343

6,098

7,021

6,051

5,660

5,626

5,606

5,503

5,475

5,088

4,536

4,511

4,504

3,835

3,676

3,673

3,363

2,746

1,795

Net cash from financing activities

-13,771

18,486

7,782

-98,847

-2,968

100,350

122,012

-12,368

-45,386

228,098

-176

195,255

-24,758

-

-

-

-

-

-

-

-

NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH HELD IN TRUST

-33,165

6,437

2,176

14,185

-13,605

-50,115

70,550

-12,750

-33,277

36,551

2,092

11,515

-6,354

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

82,986

81,505

22,360

-

54,981

169,281

47,719

NET CHANGE IN CASH AND CASH EQUIVALENTS AND CASH HELD IN TRUST

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-45,388

43,781

-5,874

-

-7,692

9,115

-26,015

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest

11,249

11,978

13,112

12,765

15,469

13,844

12,270

10,996

13,643

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

9,303

6,245

5,878

4,857

4,711

3,241

3,352

3,273

1,647

897

Cash paid for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Unrealized gain on available for sale securities, net of non-controlling interest and tax

28,444

-3,971

1,012

710

397

312

193

-53

-110

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock for dividends paid

7,097

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transfer of loans to rental property or property held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

8,100

-

-

-

-

-

-

-

-

Net transfer of loans to rental property or property held-for-sale

814

1,429

849

5,655

4,171

4,098

3,248

3,768

3,958

-

-

-

-

8,256

5,851

5,019

5,911

2,109

848

3,573

1,392

Issuance of common stock for management fee and compensation expense

214

260

1,232

1,083

1,029

1,020

964

1,020

985

999

917

808

523

508

446

260

254

255

234

548

373

Treasury stock received through distributions from investment in Manager

56

61

45

42

40

38

81

151

0

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of shares for investment in Great Ajax FS LLC

-

-

-

-

-

0

0

382

629

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of shares to Great Ajax FS LLC

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Non-cash adjustments to basis in mortgage loans

31

6

-5

-26

5

133

-67

93

188

271

372

-477

350

-

-

-

-

-

-

-

-

Non-cash equity investment in Gaea resulting from deconsolidation

-

-

-

-

-

-

-

-

-

-

-

-

140

-

-

-

-

-

-

-

-

Property sold to borrowers under the installment method

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

143

-

-

-

-

Non-cash adjustments to basis in mortgage loans

31

6

-5

-26

5

133

-67

93

188

271

372

-477

350

-

-

-

0

-

-

-

-