| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows provided by operating activities: | |||||||||
Net Income (Loss) Attributable to Parent | |||||||||
230,174 | 219,986 | 193,031 | 157,876 | 103,256 | 82,739 | 52,485 | 40,181 | 25,882 | 10,999 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||
Amortization of discount/premium and PIK | |||||||||
-81,611 | -64,269 | -48,062 | -10,679 | -11,211 | -4,221 | -5,721 | -399 | 7,782 | 5,042 |
Amortization of deferred financing costs | |||||||||
11,969 | 11,186 | 6,669 | 4,607 | 2,992 | 1,979 | 866 | 1,962 | 1,454 | 1,172 |
Equity-based compensation | |||||||||
15,897 | 8,809 | 10,977 | 4,464 | 4,266 | 698 | 3,457 | 2,845 | 1,788 | 1,452 |
Unrealized Gain (Loss) on Investments | |||||||||
0 | 0 | 37,165 | -26,099 | -17,408 | 4,147 | -3,065 | 6,489 | 481 | -1,766 |
Provision for Loan and Lease Losses | |||||||||
20,000 | 20,000 | 5,000 | 15,000 | 0 | 0 | - | - | - | - |
Loss from unconsolidated joint venture | |||||||||
0 | 0 | -2,259 | -97 | 3,480 | -157 | 0 | - | - | - |
Income (Loss) from Equity Method Investments | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Foreign currency (gain) loss | |||||||||
-3,768 | -29,617 | 18,645 | -28,790 | -5,192 | -4,038 | 0 | 0 | - | - |
Realized loss on derivative instruments | |||||||||
0 | 0 | -289 | - | - | - | - | - | - | - |
Unrealized loss on derivative instruments | |||||||||
-43,046 | 29,345 | -11,523 | 2,608 | -1,063 | 4,070 | 155 | 323 | -865 | 387 |
Loss on early extinguishment of debt | |||||||||
0 | -2,573 | 0 | 0 | - | - | - | - | - | - |
Realized loss on investment | |||||||||
-12,513 | 0 | -42,693 | - | - | - | - | - | - | - |
Derivative, Gain (Loss) on Derivative, Net | |||||||||
- | - | - | 28,552 | 5,169 | 0 | 0 | - | - | - |
Debt Securities, Available-for-sale, Realized Loss | |||||||||
- | - | - | -3,834 | -443 | 0 | 0 | 262 | 0 | -33 |
Business Combination, Bargain Purchase, Gain Recognized, Amount | |||||||||
- | - | - | 40,021 | 0 | 0 | - | - | - | - |
Changes in operating assets and liabilities: | |||||||||
Proceeds received from PIK | |||||||||
16,500 | 75,700 | 0 | 5,004 | - | - | - | - | - | - |
Other assets | |||||||||
4,926 | 10,198 | 5,192 | 25,579 | -120 | -500 | 397 | 186 | -14 | 31 |
Accrued interest receivable | |||||||||
- | - | - | - | 30,220 | 16,453 | 9,488 | -2,296 | 2,802 | 3,920 |
Loan proceeds held by servicer | |||||||||
-454 | 0 | 6,306 | 0 | 0 | - | - | - | - | - |
Accounts payable, accrued expenses and other liabilities | |||||||||
5,056 | 317 | -3,351 | -8,496 | 1,405 | 5,205 | 1,280 | -260 | 339 | 531 |
Payable to related party | |||||||||
626 | 1,636 | 1,153 | 1,718 | 2,057 | 612 | 591 | 739 | 615 | -63 |
Net cash provided by operating activities | |||||||||
273,435 | 265,964 | 154,873 | 123,886 | 88,122 | 67,037 | 45,983 | 40,104 | 35,456 | 16,594 |
Cash flows used in investing activities: | |||||||||
Fees received from commercial mortgage loans | |||||||||
- | - | - | - | - | - | 280 | 0 | 0 | - |
Funding of securities at estimated fair value | |||||||||
- | - | - | - | - | 375,833 | 134,389 | 70,676 | 0 | 282,931 |
New funding of commercial mortgage loans | |||||||||
2,526,384 | 1,849,100 | 1,136,252 | 625,800 | 641,954 | 403,983 | 32,643 | 62,490 | 8,800 | - |
Add-on funding of commercial mortgage loans | |||||||||
385,508 | 131,718 | 82,240 | 224,611 | - | - | - | - | - | - |
New funding of subordinate loans and other lending assets | |||||||||
493,017 | 220,809 | 497,629 | 209,119 | 705,068 | 402,336 | 361,035 | 96,023 | 89,856 | 8,938 |
Add-on funding of subordinate loans and other lending assets | |||||||||
30,549 | 149,238 | 112,637 | 76,199 | - | - | - | - | - | - |
Proceeds from Loan and Lease Originations and Principal Collections | |||||||||
1,428,535 | 675,140 | 218,002 | - | - | - | - | - | - | - |
Principal payments received on securities at estimated fair value | |||||||||
- | - | - | - | 8,735 | - | - | - | - | - |
Principal payments received on commercial mortgage loans | |||||||||
560,089 | 610,051 | 376,727 | 117,149 | 378,242 | - | - | - | - | 15 |
Proceeds and payments received on commercial mortgage loans | |||||||||
- | - | - | 205,226 | 103,963 | 105,501 | 18,117 | 31,300 | 9,489 | 305 |
Proceeds received from the repayment of subordinate loans and other lending assets | |||||||||
560,089 | 610,051 | 376,727 | 117,149 | 378,242 | 194,050 | 118,771 | 108 | 35 | 15 |
Origination and exit fees received on commercial mortgage loans, and subordinate loans and other lending assets, net | |||||||||
45,882 | 41,822 | 27,904 | 12,500 | 17,939 | - | - | - | - | - |
Funding of unconsolidated joint venture | |||||||||
0 | 0 | 726 | 362 | 3,929 | 39,477 | 0 | 0 | - | - |
Funding of other assets | |||||||||
0 | 0 | 1,379 | 1,640 | 8 | 1,258 | 0 | 0 | - | - |
Payments on settlements of derivative instruments | |||||||||
0 | 0 | 201 | - | 327 | 0 | 0 | - | - | - |
Proceeds (payments) on settlements of derivative instruments | |||||||||
- | - | - | -28,552 | -5,169 | 0 | 0 | - | - | - |
Increase (Decrease) in collateral held related to derivative contracts, net | |||||||||
-34,160 | 24,930 | -4,952 | 2,480 | 0 | 0 | - | - | - | - |
Payments and proceeds received on securities | |||||||||
0 | 0 | 468,171 | 140,228 | 23,629 | 0 | 0 | 121,338 | 0 | 12,188 |
Decrease in restricted cash | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Funding of securities available-for-sale | |||||||||
- | - | - | - | - | - | - | - | - | 229,499 |
Proceeds from sale of securities at estimated fair value | |||||||||
- | - | - | - | - | 0 | 0 | 16,918 | 0 | - |
Principal payments received on repurchase agreements | |||||||||
- | - | - | - | - | - | 6,598 | 40,841 | 0 | - |
Proceeds from sale of commercial mortgage loans | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Proceeds from sale of subordinate loans | |||||||||
- | - | - | - | - | 4,950 | 0 | - | - | - |
Proceeds from sale of investments in unconsolidated joint venture | |||||||||
0 | 0 | 24,498 | 0 | 20,794 | 0 | 0 | - | - | - |
Funding of repurchase agreements | |||||||||
- | - | - | - | - | - | - | - | 47,439 | - |
Funding of commercial mortgage loans | |||||||||
- | - | - | - | - | - | - | - | - | 109,622 |
Principal payments received on securities available-for-sale | |||||||||
- | - | - | - | - | 16,053 | 186,138 | 113,216 | 52,555 | 10,801 |
Payments received on securities | |||||||||
- | - | - | - | 8,735 | 15,500 | 32,344 | 98,401 | 23,138 | - |
Payments received on securities, held-to-maturity | |||||||||
- | - | - | - | 1,750 | 0 | 0 | - | - | - |
Payments received on other assets | |||||||||
- | - | - | 132 | 189 | 145 | 0 | 0 | - | - |
Repayment of contractual deposits | |||||||||
- | - | - | - | - | - | - | - | - | -90 |
Net cash (used in) provided by investing activities | |||||||||
-1,435,112 | -998,922 | -720,714 | 1,066,529 | -790,876 | -886,688 | -165,819 | 192,933 | -60,878 | -607,591 |
Cash flows from financing activities: | |||||||||
Proceeds from issuance of common stock | |||||||||
315,158 | 275,879 | 279,816 | 178,185 | 343,430 | 158,693 | 148,804 | 124,472 | 49,980 | 110,400 |
Proceeds from issuance of preferred stock | |||||||||
- | - | - | - | 197,680 | 0 | 0 | 86,250 | 0 | - |
Repurchase of common stock | |||||||||
- | - | - | - | 1,741 | 0 | 0 | - | - | - |
Redemption of preferred stock | |||||||||
172,500 | 0 | 116,990 | 0 | 0 | - | - | - | - | - |
Payment of offering costs | |||||||||
333 | 484 | 924 | 406 | 987 | 389 | 824 | 3,324 | 2,257 | 6,212 |
Proceeds from secured debt arrangements | |||||||||
3,451,172 | 2,153,846 | 1,239,515 | 721,992 | 778,675 | 567,192 | 182,218 | 313,860 | -21,042 | -140,407 |
Repayments of secured debt arrangements | |||||||||
2,273,750 | 1,580,343 | 1,045,614 | 501,200 | 475,094 | 147,032 | 205,343 | 379,401 | -69,014 | -383,135 |
Repayments of Secured Debt | |||||||||
2,500 | 0 | 0 | - | - | - | - | 251,327 | 46,007 | 9,241 |
Payment of deferred underwriting fee | |||||||||
- | - | - | - | - | - | - | - | 10,000 | - |
Proceeds from issuance of senior secured term loan | |||||||||
497,500 | 0 | 0 | - | - | - | - | - | - | 178,469 |
Proceeds from Convertible Debt | |||||||||
0 | 226,550 | 343,275 | 0 | 0 | 256,970 | 0 | 0 | - | - |
Repayments of Convertible Debt | |||||||||
704 | 40,461 | 0 | 0 | - | - | - | - | - | - |
Proceeds from participations sold | |||||||||
- | - | - | - | - | 89,012 | 0 | 0 | - | - |
Repayments of participations sold | |||||||||
0 | 0 | 85,081 | 4,372 | 1,246 | 0 | 0 | - | - | - |
Increase in restricted cash related to financing activities | |||||||||
- | - | - | - | - | - | -30,127 | 0 | 0 | - |
Payment of deferred financing costs | |||||||||
13,688 | 15,337 | 14,254 | 4,017 | 2,900 | 0 | 504 | 1,097 | 1,180 | 2,736 |
Other financing activities | |||||||||
-4,996 | 0 | 0 | - | - | - | - | - | - | - |
Dividends on common stock | |||||||||
269,232 | 227,217 | 183,877 | 132,213 | 100,849 | 67,804 | 55,471 | 33,890 | 29,412 | 14,486 |
Dividends on preferred stock | |||||||||
21,974 | 27,340 | 35,807 | 27,956 | 7,440 | 7,440 | 7,440 | 1,529 | 0 | - |
Net cash (used in) provided by financing activities | |||||||||
1,504,153 | 765,093 | 380,059 | -1,024,504 | 729,528 | 840,196 | 31,313 | -145,986 | 9,096 | 498,922 |
Net increase in cash and cash equivalents | |||||||||
342,476 | 32,135 | -185,782 | 165,911 | 26,774 | 20,545 | -88,523 | 87,051 | -16,326 | -92,075 |
Supplemental disclosure of cash flow information: | |||||||||
Interest paid | |||||||||
133,469 | 97,880 | 55,835 | 52,708 | 43,209 | 18,132 | 2,809 | 6,926 | 14,772 | 9,525 |
Supplemental disclosure of non-cash financing activities: | |||||||||
Exchange of convertible senior notes for common stock | |||||||||
33,778 | 180,016 | 0 | 0 | - | - | - | - | - | - |
Loan proceeds held by servicer | |||||||||
7,775 | 1,000 | 302,756 | 0 | 0 | - | - | - | - | - |
Deferred financing costs, not yet paid | |||||||||
5,193 | 0 | 0 | - | 0 | 33 | 312 | 0 | 500 | 1,000 |
Participations sold | |||||||||
- | - | - | - | - | 0 | 0 | - | - | - |
Supplemental disclosure of non-cash investing activities: | |||||||||
Securities, held-to-maturity | |||||||||
- | - | - | - | - | 154,283 | 0 | 0 | - | - |
Funding of subordinate loans | |||||||||
- | - | - | - | - | 0 | 0 | - | - | - |
Repayment of subordinate loans | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Deferred underwriting fee | |||||||||
- | - | - | - | - | - | - | - | - | 10,000 |
AMTG [Member] | |||||||||
Proceeds from sale of AMTG assets, net | |||||||||
- | - | - | 1,508,198 | - | - | - | - | - | - |
ARI Investment in AMTG, net of cash acquired | |||||||||
- | - | - | 189,795 | - | - | - | - | - | - |
Repayments of secured debt arrangements | |||||||||
- | - | - | 1,254,517 | - | - | - | - | - | - |
Fair value of assets acquired from AMTG | |||||||||
- | - | - | 1,936,260 | - | - | - | - | - | - |
Fair value of liabilities assumed from AMTG | |||||||||
- | - | - | 1,285,183 | - | - | - | - | - | - |
Fair value of common stock issued to AMTG | |||||||||
- | - | - | 218,397 | - | - | - | - | - | - |
Fair value of preferred stock issued to AMTG | |||||||||
- | - | - | 172,500 | - | - | - | - | - | - |