Great ajax corp. (AJX)
CashFlow / TTM
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

30,464

37,089

37,277

36,549

31,136

31,337

30,668

30,889

29,778

30,154

29,680

29,850

29,609

28,874

31,103

31,142

29,940

25,792

0

0

0

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

2,789

3,604

4,364

4,096

4,033

3,989

3,968

3,921

3,709

3,247

0

0

0

-

-

-

1,241

1,410

0

0

0

Non-cash interest income accretion

37,672

39,113

41,380

43,643

44,723

43,749

44,003

43,689

43,456

43,379

31,782

39,360

40,014

39,178

49,343

39,797

35,712

30,936

0

0

0

Discount accretion on investment in debt securities and beneficial interests

14,720

13,081

5,312

6,255

1,895

783

169

168

166

195

0

0

0

-

-

-

-

-

-

-

-

Loss on sale of mortgage loans

6,300

7,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on debt extinguishment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discount accretion on investment in debt securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Gain on sale of property held-for-sale

812

629

517

-34

-99

380

600

819

979

506

-42

-758

-330

106

647

1,555

1,007

460

0

0

0

Gain on sale of securities

0

8

355

355

355

347

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation of property

401

499

428

330

239

155

118

102

93

80

59

41

24

20

19

13

7

3

0

0

0

Impairment of real estate owned

2,526

2,104

2,342

2,549

2,767

2,700

2,538

2,759

2,615

2,516

3,351

2,720

2,275

2,011

0

0

0

-

-

-

-

Provision for credit losses on mortgage loans

2,771

803

999

1,403

1,318

1,164

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit losses on beneficial interests

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount and prepaid financing costs

5,751

5,716

5,320

6,144

6,311

6,378

7,313

6,651

6,614

6,466

6,431

6,650

6,874

6,833

5,478

4,300

2,939

1,846

0

0

0

Undistributed loss/(income) from investment in affiliates

-241

1,332

1,435

905

1,031

762

792

897

760

707

685

684

575

558

556

534

549

550

0

0

0

Net change in operating assets and liabilities
Cash held in trust

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Prepaid expenses and other assets

30,635

2,555

-3,432

31

5,049

2,747

8,021

2,854

834

2,543

-1,915

1,124

-1,826

-336

2,132

2,013

5,963

4,678

0

0

0

Receivable from servicer

-1,651

2,231

4,208

2,061

338

-2,071

509

1,087

5,461

5,087

4,229

9,281

5,750

7,037

2,689

3,411

6,371

4,104

0

0

0

Accrued expenses, management fee payable, and other liabilities

-524

830

1,856

1,331

3,356

1,171

806

1,907

980

1,233

2,259

-558

51

2,116

-941

911

778

903

0

0

0

Net cash from operating activities

-40,792

-15,427

-8,364

-7,828

-4,132

197

-8,446

-3,285

-7,841

-8,695

0

0

0

-

-

-

-

-

-

-

-

CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-14,533

-

0

0

0

Purchase of mortgage loan pools and related balances

103,126

110,146

165,598

231,041

154,660

165,021

316,940

273,629

471,188

459,194

369,472

562,448

402,699

434,332

351,577

202,806

310,201

347,104

0

0

0

Acquisition of commercial loans

2,453

19,040

19,639

24,739

24,083

6,290

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal paydowns on mortgage loans

140,528

134,696

140,865

137,452

140,772

142,107

135,351

127,123

116,068

107,274

86,466

83,194

68,674

58,388

59,059

42,735

35,151

26,400

0

0

0

Principal paydowns on debt securities held as investments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of mortgage loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal paydowns on debt securities held as investments

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of mortgage loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Draws on small balance commercial loans

-

-

-

-

-

267

0

0

0

-

-

0

0

-

-

-

-

-

-

-

-

Loans purchase deposit refund

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Purchase of securities

185,117

187,825

254,078

230,996

240,377

176,363

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of securities

0

39,600

47,673

47,708

47,673

8,073

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of rental property

25,224

27,524

31,764

16,522

14,222

15,385

5,896

3,463

3,463

0

0

0

0

-

-

-

-

-

-

-

-

Purchase of property held-for-sale and related balances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Proceeds from sale of property held-for-sale

15,322

17,436

18,012

16,878

17,956

17,632

18,164

17,458

21,950

17,143

14,365

12,346

6,758

9,117

8,322

7,592

5,052

2,729

0

0

0

Renovations of rental property

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of mortgage loans

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Renovations of rental property

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Investment in Great Ajax FS LLC, including warrants

-

-

-

-

-

-

0

0

1,072

-

-1,111

-1,111

-1,111

0

0

0

0

-

-

-

-

Distribution from affiliates

1,427

1,144

911

903

812

827

871

693

3,172

3,055

2,967

3,046

385

365

276

190

190

162

0

0

0

Renovations of rental property and property held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

492

-

0

0

0

Net cash from investing activities

116,775

100,167

-45,312

-91,704

-208,814

-190,397

-222,836

-174,267

-353,069

-345,920

0

0

0

-

-

-

-

-

-

-

-

CASH FLOWS FROM FINANCING ACTIVITIES
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-271,689

-

0

0

0

Proceeds from repurchase transactions

327,515

322,561

327,172

415,926

365,276

311,128

688,205

566,463

603,950

590,669

210,863

344,322

315,177

348,602

0

0

0

-

-

-

-

Repayments on repurchase transactions

454,329

444,372

314,307

160,457

80,341

53,424

526,246

516,690

556,110

542,221

72,090

201,177

228,876

225,695

276,450

214,358

157,564

156,265

0

0

0

Repayments on secured borrowings

245,896

241,134

157,398

296,508

239,583

254,177

322,330

180,309

195,091

178,115

164,247

150,590

118,941

109,263

28,349

34,776

22,958

18,898

0

0

0

Deferred financing costs

4,593

4,559

3,086

2,552

2,552

2,635

6,914

4,956

7,308

7,225

0

0

0

-

-

-

-

-

-

-

-

Repurchase of senior convertible notes

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sale of common stock, net of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51,408

0

0

0

Sale of common stock pursuant to dividend reinvestment plan

208

280

265

250

219

199

191

186

193

174

0

0

0

-

-

-

0

-

-

-

-

Distribution to non-controlling interests

711

789

951

1,085

1,438

3,343

3,354

3,286

2,676

766

676

645

625

618

611

592

549

500

0

0

0

Issuance of stock from subsidiary

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on common stock

19,301

26,322

25,513

24,830

24,358

22,943

22,395

22,210

21,672

20,602

19,610

18,639

17,386

16,526

15,688

14,547

13,458

11,577

0

0

0

Net cash from financing activities

-86,350

-75,547

6,317

120,547

207,026

164,608

292,356

170,168

377,791

398,419

0

0

0

-

-

-

-

-

-

-

-

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

-10,367

9,193

-47,359

21,015

-5,920

-25,592

61,074

-7,384

16,881

43,804

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

284,098

-

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-2,124

-

0

0

0

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest

49,104

53,324

55,190

54,348

52,579

50,753

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

26,283

21,691

18,687

16,161

14,577

11,513

9,169

0

0

0

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

26,195

-1,852

2,431

1,612

849

342

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock for dividends paid

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

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

8,747

12,104

14,773

17,172

15,285

15,072

0

0

0

-

-

-

-

25,037

18,890

13,887

12,441

7,922

0

0

0

Issuance of common stock for management fee and compensation expense

2,789

3,604

4,364

4,096

4,033

3,989

3,968

3,921

3,709

3,247

2,756

2,285

1,737

1,468

1,215

1,003

1,291

1,410

0

0

0

Treasury stock received through distributions from investment in Manager

204

188

165

201

310

270

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of shares for investment in Great Ajax FS LLC

-

-

-

-

-

1,011

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of shares to Great Ajax FS LLC

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Non-cash adjustments to basis in mortgage loans

6

-20

107

45

164

347

485

924

354

516

0

0

0

-

-

-

-

-

-

-

-

Non-cash equity investment in Gaea resulting from deconsolidation

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Property sold to borrowers under the installment method

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Non-cash adjustments to basis in mortgage loans

6

-20

107

45

164

347

485

924

354

516

0

0

0

-

-

-

0

-

-

-

-